Tag Archives: Chuck Norris Effect

Check your expectations (3) Milton Friedman not going far enough

Milton Friedman’s 1967 Presidential Address (pdf) is something monetary economists regularly say anyone interested in monetary economics should read. Having recently read it, I have come to the conclusion that it is something anyone interested in monetary economics should read. As is normal with Friedman, it is beautifully clear, one of his great attributes. His analysis […]

Goals, rules and time-horizons

A perennial discussion in monetary policy is rules versus discretion. Should the central bank be constrained to follow a policy rule or should it have policy discretion? I find this debate generally muddled both in the means-versus-ends question and what is the proper underlying concern. Is the concern bad policy or unclear policy? With constraining […]