Brian Romanchuk's commentary and books on bond market economics.
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SFC & MMT
Wednesday, March 14, 2018
The Curious Profit Accounting Of DSGE Models
One of the more puzzling aspects of neo-classical economic theory is the assertion that profits are zero in equilibrium under the conditions...
Sunday, March 11, 2018
Why Cross-Currency Bond Yield Spreads Do Not Matter
I have been running into cross-market yield comparisons in the news flow in recent weeks. For example, the raw U.S. Treasury/German bun...
Friday, March 9, 2018
U.S. Labour Market Trends Continuing, Pushing Fed In Hawkish Direction
Based on a quick scan of the latest U.S. labour market data, the chart above best encapsulates my reading of the state of the market. I h...
Wednesday, March 7, 2018
Comments On "Skin In The Game"
Skin in the Game: Hidden Asymmetries in Daily Life is the latest instalment of Nassim Nicholas Taleb's Incerto series, which is &qu...
Sunday, March 4, 2018
Back To Gradualism
My reading of the consensus view is that the change in personnel at the Federal Reserve has coincided with a more hawkish outlook, althou...
Saturday, March 3, 2018
The Easy Way To Deal With Factionalism In Economics
Professor Simon Wren-Lewis recently wrote: " The dangers of pluralism in economics: the case of MMT ." (I believe that he later ...
Wednesday, February 28, 2018
The Chimera Of Generational Fairness In Fiscal Policy
Although mainstream economics prides itself on being highly precise and mathematical, this is not apparent when looking at the discussion ...
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