The Language of Bank Capital Management

An interesting post about finance semantics from John Cochrane (short and easy to read): http://johnhcochrane.blogspot.ca/2017/05/93-words-most-of-them-wrong.html In this post, he takes aim at some language used in the current legislative proposal to replace Dodd-Frank. The irony is that the language he criticizes is in fact quite standard in banking. And more than being standard, it isRead More

Helicopter Money Policy Formulation

An important aspect of helicopter money is just how a central bank would obtain the authority to undertake such a policy. Eric Lonergan is a leading proponent of HM. As he points out, the resolution of this issue could depend on the institutional regime for the central bank in question. For example, it may beRead More

MMT Again

I thought we’d made peace on this topic a long time ago, but I guess not according to these comments….Against my better judgment I am going to respond to some of them…. I don’t really align myself with any particular school of economics because I believe there is enough gray area in economics that it’s dangerousRead More