Wednesday, May 20, 2020
Update: The World's Simplest Bond Model
I ran across a comment to the effect that Modern Monetary Theory (MMT) somehow is missing a theory of interest rates. Given that the MMT description of interest rates is that it is driven by expectations, and that my view is that this is the most solid way to understand interest rates, I was slightly annoyed.
This triggered me to update "The World's Simplest Bond Model." After viewing the results, I decided that I could just go back to working on the index of Recessions: Volume I. I want to underline that I do not give investment advice, and anyone curious about the model is directed to my article describing it (one of my earliest articles on this website).
(c) Brian Romanchuk 2020