The Slack Wire

There is no long run.  This  short note from the Fed  suggests that the failure of output to return to its earlier trend following the Great...

Paul Krugman wonders  why no one listens to academic economists. Almost all the economists in the IGM Survey agree that the 2009 stimulus b...

On the first day of my trade class, we read Paul Krugman's article  "What Do Undergrads Need to Know About Trade?" In an admi...

In the previous post , I argued that the term "interest rate" is used to refer to two basically unrelated prices: The exchange rat...

It's the topic of the moment. Our starting point is this Paul Krugman post , occasioned by this talk by Lawrence Summers. There are ...

There's a common shorthand that makes "debt" and "borrowing" interchangeable. The question of why an economic unit h...

Most days, I'm a big fan of Paul Krugman's columns. Unlike his economics, which makes a few too many curtsies to orthodoxy, his po...

In comments to yesterday's post on exchange rates and European trade imbalances, paine (the e. e. cummings of the econosphere) says, ...