Brian Romanchuk's commentary and books on bond market economics.
Latest - Abolish Money!
SFC & MMT
Thursday, April 27, 2017
Fun With Central Bank Calvinball
In the comments to "Does the Governmental Budget Constraint Exist?" Nick Edmonds reminded about another piece of mainstream macr...
Wednesday, April 26, 2017
Does The Governmental Budget Constraint Exist?
This article wraps up my discussion of the transversality condition and the governmental budget constraint. In summary, the governmental b...
Tuesday, April 25, 2017
Mathematics Of The Budget Constraint (Again)
This article attempts to give a simpler mathematical discussion of the governmental budget constraint and transversality. After throwing m...
Monday, April 24, 2017
On Being Pelted By Peanuts: Part I
Alexander Douglas (a lecturer in philosophy) wrote an interesting article on two subjects recently: " Macroeconomics -- A view from t...
Sunday, April 23, 2017
SFC Models And Introductory MMT-Style Fiscal Analysis
The usefulness of Stock-Flow Consistent (SFC) models is that they allow us to illustrate concepts in economics without relying solely on v...
Wednesday, April 19, 2017
Weaknesses Of Term Premium Estimates Derived From Yield Curve Models
Term structure models have been a growth industry for researchers in academia and at central banks. These models can be structured in many...
Saturday, April 15, 2017
Book Review: The Road To Ruin
James Rickards recently published The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis. His argument is that ...
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