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Cloud Y

Cloud Y
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The independent journalist who set up this website after realizing he is not smart enough to become a real economist.

The problem with monetarist’s view of inflation

Long-run stability of the velocity, or the filpside of it, money demand, however, is not a empirically founded assumption.

The repo spike is not liquidity crisis; it is a crisis for Fed’s floor...

The floor system needs a cap on top of it. The sooner the Fed realizes it, the better they will be prepared for the coming financial turmoil.

Is there a Zero Lower Bound?

In a recent research, four European Central Bank economists found that negative interest rate policy in the eurozone can encourage banks to increase lending and encourage cooperations to increase investments. That is, contrary to what macroeconomics models usually predict, interest rate policy can still has stimulative effect even the zero lower bound is reached.

When will Hong Kong’s Interest Rates Align With the US?

If you think the interest rate gap between Hong Kong and US is a market phenomenon, think again. HK Monetary Authority has a much bigger role than you think

Signs of Eurozone Recession is More Apparent

The latest Purchasing Manager Index (PMI) for the two largest economies, Germany and France, is showing a clear sign of looming recession.

Japan’s Inflation Rate is still Far From BOJ’s 2 Percent Target

Japan's core inflation rate was on 0.7 percent in February, remaining distant from the Bank of Japan's 2 percent target.

Phillips Curve is Not a Straight Line…

A story about three economists agree with the prevailing consensus that the Phillips Curve of the US is flattened in the last few decades on the one hand; and dispute the idea that the Phillips Curve is dead on the other.

FedSpeak Might Not Have Much Effects on Public’s Inflation Expectation

In a recent NBER working paper "Monetary Policy Communications and their Effects on Household Inflation Expectations", economists Olivier Coibion, Yuriy Gorodnichenko and Michael Weber tried to find out how the household's expectation for inflation change with regard to the information they received.

Americans have not been this optimistic about their financial situation — for the last...

69% of American is financially optimistic, reaching the highest level for the last 16 years.

Germany’s GDP Data might have been Distorted by Questionable Data

Germany's GDP data for 2018 might have been distorted by some questionable data provided by the pharmaceutical manufacturing industry.

Global Economy

Interviews

How to use Interest on Reserve for Inflation Targeting? | Q&A with Ricardo Reis...

This is the eighth installment of our interview series “Where is the General Theory of the 21st Century?” In this installment, we continue our talk...
Cochrane Cover Photo

What is Neo-Fisherian and FTPL? | Q&A with John Cochrane |

Cochrane discusses with us his view on the development in Macroeconomics since the Great Depression. He also explains what Neo-Fisherian and Fiscal Theory of Price Level are, and why they are important for understanding the current economic situation around the world.

Performance of Macroeconomics is not that bad! | Q&A with Ricardo Reis |

In the interview, Ricardo Reis discuss with us his latest research project - "Reservism", the study of the role of reserves on central bank balance sheets and their implications for central bank solvency, quantitative easing, and the ability to control inflation.

US needs large-scale Covid testing urgently: Nobel winning economist Paul Romer

In an exclusive interview with EconReporter on Tuesday, Romer, co-recipient of the 2018 Nobel Prize in Economics Science, urged the US to adopt large-scale testing immediately to halt this most detrimental economic slump ever since the Great Depression in the 1930s.