That is the new book by John H. Cochrane, Luis Garicano, and Klaus Masuch, and the subtitle is Challenges, Evolution, and Future of the Euro. Excerpt: Our main theme is not actions taken in crises, but that member states and EU institutions did not clean up between crises. They did not reestablish a sustainable framework […]
*Crisis Cycle*
*Crisis Cycle*
02 Jun 2025 Leave a comment
in budget deficits, business cycles, currency unions, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, international economic law, international economics, macroeconomics, monetarism, monetary economics, Public Choice Tags: European Union
Forty years of floating
01 Mar 2025 Leave a comment
in budget deficits, business cycles, economic growth, economic history, Euro crisis, global financial crisis (GFC), great recession, history of economic thought, inflation targeting, macroeconomics, monetary economics Tags: floating exchange rates
Last year there was an interesting new book out, made up of 29 collected short papers by (more or less) prominent economists given at a 2023 conference to mark Floating Exchange Rates at Fifty. The fifty years related to the transition back to generalised floating of the major developed world currencies in 1973 (think USD, […]
Forty years of floating
Ireland: Good Corporate Tax Policy vs. Bad Government Spending Policy
11 Feb 2025 Leave a comment
in budget deficits, business cycles, economic growth, economic history, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, labour economics, labour supply, law and economics, macroeconomics, monetary economics, public economics Tags: Ireland, taxation and investment
I’m a big fan of Ireland’s low corporate tax rate for three reasons. First, it shows that good tax policy generates positive economic outcomes as per-capita GDP in Ireland has grown by record amounts. Second, it shows that lower tax rates can in some cases lead to more revenue. Sort of a turbo-charged version of […]
Ireland: Good Corporate Tax Policy vs. Bad Government Spending Policy
The Euro at 25
03 Feb 2024 Leave a comment
in budget deficits, currency unions, economic history, economics of bureaucracy, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, inflation targeting, macroeconomics, monetary economics, Public Choice Tags: Euro
The euro technically started in 1999, when the 11 founding European members of the currency agreed to keep their exchange rates fixed and to hand over monetary policy to the European Central Bank. The euro then became the actual currency that people and firms used in 2002. I confess that, back in the early 1990s,…
The Euro at 25
190308 [Webinar] Consistent Economic Policy and Economic Development
29 Dec 2023 Leave a comment
in applied price theory, budget deficits, business cycles, defence economics, economic growth, economic history, economics of information, Euro crisis, fiscal policy, fisheries economics, global financial crisis (GFC), great recession, growth disasters, growth miracles, history of economic thought, human capital, inflation targeting, labour economics, labour supply, macroeconomics, monetary economics, Public Choice, public economics, unemployment
My Conversation with the excellent Jennifer Burns
17 Nov 2023 Leave a comment
in Austrian economics, business cycles, economics of education, Euro crisis, F.A. Hayek, global financial crisis (GFC), great depression, great recession, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics
Here is the audio, video, and transcript. Here is the episode description: Jennifer Burns is a professor history at Stanford who works at the intersection of intellectual, political, and cultural history. She’s written two biographies Tyler highly recommends: her 2009 book, Goddess of the Market: Ayn Rand and the American Right and her latest, Milton Friedman: The […]
My Conversation with the excellent Jennifer Burns
Book Presentation with John Cochrane: “The Fiscal Theory of the Price Le…
09 Nov 2023 Leave a comment
in budget deficits, business cycles, econometerics, economic growth, economic history, Euro crisis, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, inflation targeting, macroeconomics, Milton Friedman, monetarism, monetary economics, public economics Tags: monetary policy
“Economic Policy and Growth of Nation” – by Prof. Finn Kydland
24 Apr 2022 Leave a comment
in applied price theory, budget deficits, business cycles, economic growth, economic history, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, growth disasters, history of economic thought, labour economics, labour supply, macroeconomics, monetary economics, public economics, unemployment Tags: real business cycles
Webinar: John H. Cochrane on the role of central banks
02 Dec 2021 Leave a comment
in budget deficits, business cycles, economic growth, economic history, Euro crisis, financial economics, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, inflation targeting, macroeconomics, monetary economics
Ed Prescott Says ‘Partial’ Default Is Likely for Greece
22 Nov 2021 Leave a comment
in applied price theory, applied welfare economics, budget deficits, business cycles, comparative institutional analysis, currency unions, economic growth, economic history, Edward Prescott, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, labour economics, labour supply, macroeconomics, monetary economics, unemployment Tags: real business cycles
Edward C Prescott on the EU, business cycles and European economic research
20 Nov 2021 Leave a comment
in applied price theory, applied welfare economics, budget deficits, business cycles, economic history, Edward Prescott, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, industrial organisation, labour economics, labour supply, macroeconomics Tags: real business cycles
The reduced supply of safe assets
07 Nov 2021 Leave a comment
in applied price theory, budget deficits, business cycles, economic growth, economic history, Euro crisis, financial economics, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, international economics, law and economics, macroeconomics, monetarism, monetary economics, public economics Tags: monetary policy
Determining the Value of Money: Next Steps for the Fiscal Theory of the Price Level
07 Nov 2021 Leave a comment
in applied price theory, budget deficits, business cycles, economic growth, economic history, Euro crisis, financial economics, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics, Robert E. Lucas Tags: inflation, monetary policy
Utopia, you are standing in it! 
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