Business-Cycle Conditions

Friday, August 13th, 2010
"In a sharply worded dissent to the Federal Reserve’s decision to help ease the supply of credit to the economy, a member of the Fed committee that sets interest rates said Friday that the central bank’s monetary strategy could backfire and touch off a new boom-and-bust cycle. The member, Thomas M.
Thursday, August 12th, 2010
"The Austrian theory is not a theory of recessions per se; it is a theory of the unsustainable boom. As such, it has a much stronger link to the underlying microeconomics than does much of today’s mainstream theorizing.
Wednesday, August 11th, 2010
"This relationship holds, I believe, because low inflation tends to focus people's attention on productive investments at the same time it promotes confidence by delivering stability, while high inflation tends to encourage speculative investments and discourage investment because it increases uncer
Wednesday, August 11th, 2010
"The prevailing view among economists, policy makers and Federal Reserve Board governors is that a zero or near-zero short-term interest rate stimulates the economy—the lower the rate, the better. It is time to re-examine this conventional wisdom.
Wednesday, August 4th, 2010
"One of the most enduring and troublesome mysteries in economics is money: how it is created, what sorts of institutions initiate the process, what kinds of mystique and priestcraft central bankers use in managing monetary systems, and what rules, laws, or customs limit their actions.
Thursday, July 29th, 2010
"The only way fiscal and monetary stimulus could "work" is if the flow of real savings (i.e., real funding) is large enough to support (i.e., fund) government activities and activities that sprang up on the back of loose-monetary policy while still permitting a positive rate of growth in the activit
Wednesday, July 28th, 2010
"In a recent Wall Street Journal column, Princeton economist Alan Blinder wonders why 64 percent of Americans do not believe the $849 billion "fiscal stimulus" bill "saved or created" many jobs.
Wednesday, July 14th, 2010
"Federal Reserve leaders marked down their expectations for growth and inflation last month, concluding that the economic recovery is proceeding more slowly than they had thought in the spring but that the slowdown did not warrant new policy actions.
Wednesday, July 7th, 2010
The debates raging over what policies will pull the U.S. economy out of its Great Recession replicate one that occurred during the Great Depression. Thanks to the efforts of Richard Ebeling, a professor of economics at Northwood University, we have compelling and concise documentary evidence.
Wednesday, June 30th, 2010
"The administration's stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible.
Wednesday, June 16th, 2010
"Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold standard and the founding of Social Security.
Friday, June 11th, 2010
"With a sustainable economic recovery now underway, policy makers will soon have to start thinking about pulling back their monetary stimulus to ensure inflation stays low and inflation expectations remain well-anchored, Philadelphia Federal Reserve President Charles Plosser said Friday.
Friday, June 11th, 2010
"Basic features of business cycle properties under both exogenous and endogenous monetary policy rules are examined in calibrated dynamic stochastic general equilibrium models with nominal rigidities (the nominal wage contract model, the monopolistic competition model with price adjustment costs and
Tuesday, May 18th, 2010
"On January 3rd, US Federal Reserve Chairman Ben S. Bernanke delivered a major speech at the annual meeting of the American Economic Association. In his formal paper, "Monetary Policy and the Housing Bubble," Chairman Bernanke argues that the Fed's monetary policy was not responsible for the U.S.
Monday, May 10th, 2010
Dr. Roger Garrison, Professor of Economics at Auburn University, has constructed a variety of useful slideshow presentations to aid students in understanding the workings of the market system.
Saturday, May 8th, 2010
“Those who wish to preserve freedom should recognize, however, that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who wish to stop t
Thursday, May 6th, 2010
"Nowadays it is usual in economics to talk about the Austrian theory of the trade cycle.
Wednesday, May 5th, 2010
"For the graduate students, my focus is both to communicate the basic idea (and research puzzles) of how to study intertemporal coordination.
Wednesday, April 28th, 2010
The recent financial crisis has called into question several basic tenets of mainstream macroeconomics.