Financial Stability: FSOC, Continued Secrecy, Fannie and Freddie
I address this range of issues in an editorial this week published in the Washington Times.
Money & Politics
Missing from the debate on multipliers
Scott Sumner and Paul Krugman have been going back and forth about fiscal multipliers, in a debate with many other participants. (Here are the first post and the latest post by Sumner on the issue.) For those of you who have not followed the debate, the fiscal…
The New York Times versus Ron Paul
December 28, 2011 Editor The New York Times Sir, As you claim that Ron Paul’s belief that the Federal Reserve should be abolished disqualifies him for the presidency (“Mr. Paul’s Discredited Campaign,” December 27), and thereby appear to be convinced that no alternative to the Fed could…
Tom Sargent, 2011 Nobel Laureate
In honor of Tom Sargent's prize, I extract the last section of (forgive the self-promotion) my forthcoming book The Clash of Economic Ideas (due out in April from Cambridge University Press). Unpleasant monetarist arithmetic During the early 1980s a group of economists then at the University of…
Taxation of banks
Banks present a tempting target for taxation because that’s where the money is. As with other forms of corporate taxation, though, who pays the tax to the government and who ultimately pays it can be two different things. This point is both so elementary and so important…