Rates or quantitites or both

Rates or quantitites or both

| Bank of Canada, convenience yield, Federal Reserve, hot potato effect, Nick Rowe, open market operations, Steve Waldman

Roaming around the econ blogosphere, I often come across what seems to be a sharp divide between those who think monetary policy is all abou...

The fed funds rate was never the Fed's actual policy lever

The fed funds rate was never the Fed's actual policy lever

| convenience yield, federal funds rate, Federal Reserve, market monetarism, moneyness, Nick Rowe, nominal interest rates

The lever on which a central bank pushes or pulls in order to keep its target variable (say inflation) on track is commonly referred to as t...

Give Bernanke a long enough lever and a fulcrum on which to place it, and he'll move NGDP

Give Bernanke a long enough lever and a fulcrum on which to place it, and he'll move NGDP

| inflation, market monetarism, Mike Sproul, Miles Kimball, Nick Rowe, open market operations, Paul Krugman, quantitative easing, Scott Sumner, zero lower bound

I'm running into a lot of central bank doubt lately. Mike Sax and Unlearning Economics , for instance, both question the ability of the...

Transporting the macroblogosphere back to 1809: Usury Laws and the 5% upper bound

Transporting the macroblogosphere back to 1809: Usury Laws and the 5% upper bound

| Bank of England, forward guidance, Henry Thornton, history of thought, inflation, Miles Kimball, Nick Rowe, nominal interest rates, Paul Krugman, real interest rate, usury, zero lower bound

The zero-lower bound is the well-known 0% floor that a note-issuing bank hits whenever it attempts to reduce the interest rate it offers on ...