Current Blog
Bernanke v. Kindleberger: Which Credit Channel?
In the 1983 paper cited as the basis for Bernanke’s Nobel award, the first footnote states: “I have received useful Read more
New Lombard Street, Ten Years On
What follows is a Foreword I wrote for the Japanese translation of New Lombard Street, coming out later this year: Read more
Corona Crisis: Lessons of the Stress Test
Watch Perry Mehrling's Zoom talk to the Boston Economics Club on June 3, 2020 https://mymedia.bu.edu/media/Corona+CrisisA++Lessons+of+the+Stress+Test/1_pk5wohqm Read more
Imagining the AC Economy
April 3, 2020 AC is of course After-Coronavirus, and we need to distinguish short run from long run. In the Read more
A Money View of the Pandemic
March 26, 2020 If your cash inflows disappear but your cash outflows remain, what do you do? Dash for cash. Read more
Liquidity Changes Everything
Much has changed in the institutional organization of money markets since Fall 2012 when INET filmed my course “Economics of Read more
Where is politics in the money view?
The following was inspired by my attendance at a recent conference, Money as a Democratic Medium, where I gave a Read more
Making Finance Visible, a review of Brine and Poovey
Brine, Kevin R. and Mary Poovey. Finance in America, an unfinished story. University of Chicago Press, 2017. The authors of Read more
Secular Stagnation: Natural Rate or Structural Change?
December 15 I attended INET’s day-long workshop on Secular Stagnation, and I meant to write about it at the time. Read more
The year in money
A 2017-end post with this title might be thought to focus on bitcoin, and I will indeed have something to Read more