Alan Greenspan, asset bubbles, inflation targeting, NGDP targeting, Sebastian Mallaby

Sebastian Mallaby's biography of Alan Greenspan¬†does just about everything right. Despite its length, it's eminently readable. Yet there's nothing superficial about it: Mallaby seems no less comfortable with economics than he is with English, allowing expert monetary and macro-economists to join non-expert readers in both enjoying and…

India, Demonetization, Narendra Moti, seigniorage, wealth transfer

News accounts and analyses on other blogs have usefully described and critically assessed the "demonetization" shock that Prime Minister Narendra Modi gave the Indian economy on November 8. Here we emphasize two features of Modi's initiative that have been little noticed. First, the combination of demonetization followed…