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Thoughts From The Divide - Archive

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Posts tagged Monetary Policy
Talk, Beliefs, and Feelings - October 8, 2019

Though the NFIB data “shows no sign of a recession”, “mumblings about a coming recession… are becoming more prevalent, and this is contagious”. Robert Shiller shares the NFIB’s concerns and believes there is a “risk” that we “talk ourselves into a recession”. A BIS report on unconventional monetary policy further highlights the importance of beliefs, arguing that the effectiveness of policies depends on “the public’s belief about their effectiveness”.

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Monetary Policy Pushback - July 30, 2019

Ruchir Sharma, Chief Global Strategist at Morgan Stanley reminds us that central banks can’t dictate where the money they print goes, and warns that easy money could set the stage for a market collapse. D.L. Thornton, ex-Vice President of the St. Louis Fed argues that low rates have failed to spur economic growth and have harmed sectors of the population

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Central Bank Scorecard - June 18, 2019

Leika Kihara chronicles the path of Haruhiko Kuroda and finds that the monetary experiments implemented by the BoJ has failed. Also, Eric Sims and Jing Cynthia Wu develop a model that draws conclusions from unconventional monetary policy tools.

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Interest Rates Re-Examined - June 12, 2019

A number of commentators, including Warren Mosler and Jim Chanos, found fault with the monetary policy framework espoused by Ken Rogoff. They explain why central bankers have “got it backward” and why “the Fed itself” is behind some of the dynamics they are fighting.

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Unconstrained Negative Interest Rates - June 4, 2019

In “The Case for Implementing Negative Interest Rate Policy” Kenneth Rogoff & Andrew Lilley probe the limitations of monetary policy tools and examine the steps necessary to implement deeply negative interest rate policy.

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