Monday, May 13th, 2019

In a recent report, the Government Accountability Office recommends altering the metal content of the nickel and casts doubt on the benefits of suspending production of the penny.

Tuesday, April 2nd, 2019

MMT in the colonial period often led to periods of ruinous inflation and, less well-understood, revolution-inducing deflation.

Thursday, March 28th, 2019

Can governments run large fiscal deficits financed with new money without generating significant inflation? The experience of Argentina calls this view into doubt.

Thursday, August 9th, 2018

Replacing a country’s failed currency with a reserve currency such as the dollar – so called “dollarization” – is not as easy as it sounds.  

Thursday, July 12th, 2018

Always ask yourself: when using the term “inflation,” what are you seeking to explain? If it is monetary policy, you are best off looking at monetary statistics. If it is prices, follow the Everyday Price Index. If it is the relationship between monetary policy and prices, follow good economic theory.

Friday, June 8th, 2018

A new NBER working paper quantifies the relationship between post-WWI policy uncertainty in Europe and hyperinflation.

Friday, June 1st, 2018

Some Keynesians argue that today’s combination of low inflation and unemployment contradicts the natural-rate hypothesis. But is the labor market really as robust as they claim?

Wednesday, May 30th, 2018

If the central bank should keep inflation in check, what sense does it make to ignore changes in food and energy prices?

Saturday, May 26th, 2018

Keeping the consumer price level stable in the presence of productivity gains does not mean inflation disappears.

Sunday, May 6th, 2018

A distinction between theoretical and empirical price levels is useful for articulating why one might prefer a nominal-GDP-level target to a price-level target. 

Monday, February 26th, 2018

The available evidence suggests that it is painful to lower inflation rates—and that pre-commitments do little to mitigate those costs.

Saturday, February 10th, 2018

The news has been packed with fake economics for the weeks since the correction in stocks began. Story after story has claimed that rising wages could translate into higher inflation, setting off fear and trembling on Wall Street. These claims have caused anyone with contemporary economics knowledge to slap their heads with exasperation. This is precisely how fallacy lives on and on: it keeps being reported by journalists who don’t know better.

Friday, September 22nd, 2017

Just how much will peoples’ attitudes have to change to allow widespread adoption of a private cryptocurrency like Bitcoin or Ethereum?

Thursday, September 7th, 2017

Nothing raises Americans’ ire more than tax increases, but most of us don’t know that we face a hidden income-tax hike almost every year that the economy grows.

Thursday, July 20th, 2017
Can you name an official at a major central bank who expresses worries that inflation is now, or soon will be, too high?  Can you identify any financial publication--even the Wall Street Journal--that does not report that recent inflation data have been "disappointing?" To paraphrase former Presiden
Wednesday, July 12th, 2017

The Fed will try to reduce its balance sheet very, very slowly.

Wednesday, June 1st, 2016

What is inflation?
What comes to mind when you think of inflation? It might be higher prices, less affordability, and something bad that we want to avoid. Yet more expensive goods, which would be seen as a negative for consumers, can be a plus for sellers, as they can charge higher prices.

Friday, July 18th, 2014
Today’s T.E.A. party adherents have it right. We are Taxed Enough Already! So why is raising the inflation tax gaining popularity with policymakers around the world?
Wednesday, July 10th, 2013
by Alex Chafuen

Central Banks have been tools to destroy rule of law in many countries.