Wednesday, January 18, 2017
This article is a brief discussion of the relationship between growth and trade deficits in the United States. The previous two decades saw a marked deterioration in the U.S. trade balance, as depicted in the chart above. As a result, trade acted as a counter-cyclical brake on growth. One interesting property of the current cycle is that the trade deficit has been relatively stable when compared to that experience.
Sunday, January 15, 2017
Wednesday, January 11, 2017
This article first discusses some of the academic theoretical issues around the ZLB, and then jumps to the latest economic squabbling based on Paul Krugman's recent comments.
Sunday, January 8, 2017
the Python sfc_models framework for Stock-Flow Consistent (SFC) models. It should be noted that despite the generality of the title, I am only discussing how I attacked the problem (the results of my technique is consistent with the literature that I have studied). The existing literature relies on the derivation of system equations by hand, and so the modelling techniques used by others are less constrained than the algorithmic equation generation I use.