Deflation Treatment: Stabilize Symptoms, then Address the Cause

Deflation: The Failed Macroeconomic Paradigm Plumbs New Depths of Self-Parody by William K. Black, New Economic Perspectives Patient bleeding out? Don’t treat the bleed; keep the crash cart nearby Imagine you were a doctor in the ER when a patient was brought in presenting symptoms indicating a likely internal bleed. Here are the two critical …

Law of the Jungle

Age of Wisdom, Age of Foolishness (12) Written by Adam Whitehead, KeySignals.com Last week, the American Jury delivered its verdict on the economic recovery and the European Jury was asked to reconsider by the Judge.  Juries on both sides of the Atlantic had been considering the parochial evidence of their own domestic economies in isolation …

Overcoming the Obstacles to International Macro Policy Coordination Is Hard

by Olivier Blanchard, Jonathan D Ostry and Atish R Ghosh, Voxeu.org The world has just been through a period of unprecedented macro policy activism. More is set to come as central banks exit unconventional policies, governments fix their fiscal positions, and financial regulations are reformed. These national policies have undeniable international spillovers. This column argues …