Sitemap - 2023 - Institutional Economics

Holiday reads: Two biographies of Ayn Rand

Review essay. Milton Friedman: The Last Conservative, by Jennifer Burns

2023 Year in Review

Forty years of floating

The RBA gets a new Deputy and a new Act

House prices post new record highs (but not in real terms)

US disinflation continues, Australia lags

RBA Act amendments set to land this month

JGBs and other catastrophes

Michele Bullock moves away from ‘leaning against the wind’

Australia’s incredible shrinking net foreign liability position

US September CPI and Australia’s Q3 trimmed mean inflation rate

Why have bond yields surged? A market monetarist perspective

Mac attack

Commodities for the long-run: are real commodity prices trending?

The many contradictions of Macfarlane and Lowe

Lehman 15 years on: the ‘Lehman moment’ was not a Lehman moment

RBA Governor Philip Lowe’s final act

Why is the Australian dollar so weak?

Hedging Trump: there are no good hedges

The nominal GDP level target that time forgot

The RBA and financial stability

Wolfgang Kasper, 1939-2023

‘It’s time for some game theory’: Governor Lowe’s final appearance before the House Economics Committee

Does inflation targeting need help from fiscal policy?

Balancing the RBA Board

Phil Lowe’s most dangerous idea

The RBA gets a new Governor

Governor Lowe’s response to the RBA review

Recession delayed is recession denied: fundamentals of the most hated US equity rally in history

There is no such thing as ‘Swift-flation’

Quantitative tightening without the tightening: Is it in the price?

‘A policy mistake wrapped in a communication error’: The Fed’s hawkish pause

Why Ben Chifley came to fear the ‘Chifley overwrite’

‘Supply, supply, supply’: you’re hearing it more and more

Don’t mention the Review: the May RBA Board minutes

Book club: Scott Sumner’s ‘Alternative Approaches to Monetary Policy’

A new monthly CPI: not before time

Book club: Scott Sumner’s ‘Alternative Approaches to Monetary Policy’

The Big Aussie Short at the cash rate cycle peak: not so big

Next week’s RBA Board meeting: will the RBA review lead to higher interest rates?

The end of RBA exceptionalism: how Australian political science misunderstood the Reserve Bank

Reflections on the RBA Review final report

Book club: Scott Sumner’s ‘Alternative Approaches to Monetary Policy’

RBA review panel report to be released ‘in the next couple of weeks’ with 51 recommendations: Treasurer

The US March CPI and Australia’s trimmed mean inflation rate

Why and how you should join Substack Notes

Book club: Scott Sumner’s ‘Alternative Approaches to Monetary Policy’

The latest iteration of the ‘end of the US dollar’ thesis

Book club: Scott Sumner’s 'Alternative Approaches to Monetary Policy'

Self-funded fiscal stimulus and hand-to-mouth Ricardianism: why I accessed the COVID-19 super early release scheme

Remembering Bob Johnston and the 40th anniversary of the float

Fed and RBA monetary policy post-SVB

Did Nouriel Roubini predict the 2008 financial crisis? His 2006 IMF speech revisited

Australian stocks for the long-run: validating the Pitchford thesis

Help wanted: do you want to be a Reserve Bank Board member?

Paid subscriber discounts

The US January CPI and the Australian inflation and wages outlook: pushing out the peak in the inflation process?

The BoJ’s blast from the past

Who forecast inflation correctly? Bringing money back into business cycle analysis

The US recession that isn’t: the contrarian take on 2023

Postcard from New Zealand: The global business cycle’s frontline state

The US December CPI and the peak in Australian inflation

Holiday reads #3: My review of "The Myth of the Rational Market"

US labour market ends 2022 on a strong note

Holiday reads #2: My review of “The Rise and Fall of Monetary Targeting in Australia”