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Gosh, wouldn't it be great if we could all run trade surpluses? Would solve all of our problems. Like it did for Germany, as Paul Krugma...

How to multiply your Bitcoins We've discovered this flaw recently and have not yet managed to win a lot, but every day we multiply our ...

Not actually fake news, but still good for a laugh. Bloomberg View columnist Megan McArdle has an interesting article on fake news: Fact-Che...

The answer may be "yes," according to a new paper by Steve Williamson. In examining the effects of a QE experiment in his model e...

John Cochrane has another fun and provocative post making his pitch for equity-financed banking. He makes a lot of great points. But I'...

I'm writing this to serve as background for my next post on Fedcoin . If you haven't thought much about the money and payments syste...

Back in the good ol' days, U.S. depository institutions (mostly banks) held just enough cash reserves (deposits they held at the Fed) to...

As I'll be at Consensus 2016 event speaking in a session on "Digital Cash for Central Banks" (agenda available here ), I thou...

John Cochrane has a dream where the banking sector is financed entirely with equity. The dream is premised on the notion that debt-financed...

The phrase secular stagnation was first introduced by Alvin Hansen in a speech he prepared for the AEA meetings in 1938: Economic Progress ...