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Monthly Archives: January 2017

Rajan on what “New Rule for Monetary Game” actually means

Raghuram Rajan at AFF 2017
Raghuram Rajan, former Governer of Reserve Bank of India and now Professor of Finance at Chicago Booth, visited Hong Kong and gave a keynote speech in Asian Financial Forum last week. I am lucky enough to have a chance to attend a small group...

ECB’s Praet on Eurozone’s Secular Stagnation

Peter Praet, Executive Board Member of the ECB:Central to this debate is whether the slow growth can be attributed to cyclical – and hence ultimately transitory – factors related to the financial crisis, longer-term structural factors, or a combination of both, whereby cyclical...

Blanchard’s “Policy Model” v “Theory Model”

Back in November last year, Professor Olivier Blanchard discussed with me about his view that there should be four types of macroeconomics, and "theory models" like DSGEs is just one of them. Here is the conservation:Q: In your paper “Do DSGE Models Have a...

Bernanke on Trump’s Fiscal Policy 

Ben Bernanke has a new blog post on Brookings. The focus of the post is to explain "the large difference between the reactions of the Fed and the markets to the change in fiscal prospects since the election"

Economy