Tag Archives: Great Moderation
Why The CBO’s ‘Mr. Smith’ Has More Work To Do
From budget projections released by the Congressional Budget Office (CBO) last week: CBO now expects that output will fall slightly short of its potential, on average, even after the economy has largely recovered from the recent economic downturn. Translation: We’ve … Continue reading
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Tagged automatic stabilizers, budget projections, business cycle, CBO, CBO baseline scenario, Congressional Budget Office, Ford House, Great Moderation, Jefferson Smith, potential growth, potential output
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“Pot Calling the Kettle Black” Classic: Fed Researchers Slam Dishonest Economists
An economist recently recommended that I read a paper by three Fed researchers titled: “Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis.” It was presented at a major conference last … Continue reading
Yellin’ for Yellen: I Must Have Fallen Asleep and Woken Up in 2006
After reading the coverage of Janet Yellen’s Fed Chair nomination yesterday, it feels as though it’s 2006 all over again. Confidence in our central bankers seems to be approaching all-time highs, little more than five years after it collapsed alongside … Continue reading
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Tagged Alan Greenspan, asset inflation, Ben Bernanke, forward guidance, Friedman's forecasting, Galbraith, Great Moderation, Huffington Post, Janet Yellen, John Kenneth Galbraith, Justin Wolfers, Milton Friedman, Paul Volcker, QE, Ryan Grimm, the majority is always wrong, Yellen nomination, ZIRP
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Preparing for Bernanke’s Speech with a Short “Who Said It?” Quiz
In case you missed the late announcement, Ben Bernanke is scheduled to deliver a speech on Wednesday afternoon, covering the Federal Reserve Bank’s track record through its 100 year history. Presumably, he’ll also spend time defending current policies, in both prepared remarks and … Continue reading
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Tagged Ben Bernanke, Federal Reserve, Great Moderation, Great Moderation speech, National Bureau of Economic Research, Paul Volcker, William McChesney Martin
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