Why the TC Rule (and Nearly All Fiscal Rules) are Less Political than Monetary Policy

Hey, we’re making some progress over here at MR. Steve Waldman had a great post up a few days ago about fiscal rules. Down in the comments about the TC rule, I got some intelligent push back from people about how this blog was supposed to be less political and more descriptive. People were rightly […]

Why Include Population Growth in Fiscal Policy?

Hey everyone, the comments section was excellent from the last post. So much there I can’t even come close to responding to everything. Here was a good question about population growth from Noam, and it’s inclusion in the TC rule. “I don’t understand including population growth. Say a nation has 10% population growth. Should it […]