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George Akerlof on the Response to the Financial Crisis and Great Recession

posted to Econbrowser on Thu 16th May 13

In a blogpost taking stock of the IMF conference on lessons from the crisis, the Nobel laureate distills the lessons learned.He makes the following observations: Not only are financial recessions deeper and slower in recovery than in normal recessions. They
Crowding Out Watch, Heritage Edition

posted to Econbrowser on Mon 13th May 13

The Heritage Foundation's Salim Furth writes:If interest rates are responsive to news, most macroeconomic models agree that government stimulus spending crowds out private investment. In usual times, with responsive interest rates, New Keynesian models[4] typically
How Fannie Mae made its profit

posted to Econbrowser on Sun 12th May 13

Mortgage buyer and insurer Fannie Mae was in the news again this week.First, let me review a little of the history of how we got here. Fannie Mae (otherwise known as the Federal National Mortgage Association) was created by an act of the United States Congress

Consequences of the Oil Shock of 2007-08

posted to Econbrowser on Thu 2nd Apr 09

In a follow-up on my earlier post, I'd now like to discuss the second part of my paper, Causes and Consequences of the Oil Shock of 2007-08, which I presented today at a conference at the Brookings Institution. Here I'll review the role that the oil price shock
The Fed's new balance sheet

posted to Econbrowser on Sun 29th Mar 09

My previous post reviewed the profound changes in the balance sheet of the U.S. Federal Reserve over the last 18 months. Here I comment on some of the concerns that the new Fed balance sheet raises for the conduct of monetary policy.I would suggest first that
Federal Reserve balance sheet

posted to Econbrowser on Sun 21st Dec 08

Here I survey how we got here, where things currently stand, and what it all means.Let me begin by reviewing some first principles of what the Fed is all about. How did the cash currently in your wallet get there? You withdrew it from an ATM, perhaps. But these

Sunday Night Futures

posted to Calculated Risk on Sun 19th May 13

Monday: At 8:30 AM ET, the Chicago Fed National Activity Index for April will be released. This is a composite index of other data. Weekend:Schedule for Week of May 19th The Asian markets are green tonight with the Nikkei up 1.0%, and Shanghai Composite up
Links 5/17/13

posted to naked capitalism on Fri 17th May 13

Do you like my mane? Cat owners transform their pets into lions in latest internet craze Daily Mail (SW)Cells as living calculators MIT NewsTony Hayward becomes Glencore Xstrata interim chairman FTWhite House scandalsWhy Washington scandal-mania may save Medicare
David Dayen: Hedgies Bet on Fannie/Freddie Status Quo

posted to naked capitalism on Fri 17th May 13

By David Dayen, a lapsed blogger, now a freelance writer based in Los Angeles, CA. Follow him on Twitter @ddayenThe new CBO budget projections showing debt stabilization over the next decade and a reduction of the expected FY 2013 deficit to $642 billion hasn’t