MacroMania

The nominal yields on "high-grade" government debt instruments continue to plunge; see here . Real interest rates on U.S. gover...

I have to admit that I never ascribed much importance to the idea of "tax policy shocks" as an important driver of the U.S. pos...

If potential GDP is what the CBO says it is, then the U.S. economy seems to be stuck in a rut. Proponents of NGDP targeting generally belie...

A lot of people, including those who favor NGDP targeting, want the Fed to raise the rate of inflation; at least, temporarily. Three quest...

I want to thank everyone who replied to my previous blog post NGDP Targeting: Some Questions . It will take me some time to digest all of t...

Let me start by saying that the idea of a NGDP target does not sound outlandish to me. But I feel the same way about price-level and inflat...

Mark Perry entertains us with a comparison of the U.S. income tax form that filers were required to fill out in 1913: see all 4 pages here...