Category Archives: Macroeconomics
Can someone direct me to a good Hayekian explanation of the inverted yield curve phenomena: Click to enlarge. ht Mish.
Scott Sumner thinks we are, but Bob Murphy gently explains that this bus won’t arrive until the Keynesians and Chicago economists acknowledge the signal fact that interest rates are prices and capital production has a price sensitive time structure: the … Continue reading
In his recent Hayek vs Keynes article, when Mario Rizzo says, “Hayek probably should have emphasized more that his theory implied the need to avoid a “secondary deflation” during the bust period. Increases in the demand to hold money should … Continue reading
New York University’s Mario Rizzo: Robert Skidelsky wrote in the Financial Times that recent debates among economists are a rerun of the disagreements between John Maynard Keynes and the U.K. Treasury in the early 1930s. To a certain extent this … Continue reading
Roger Garrison has an excellent little article out comparing the monetary economics of Friedrich Hayek and Milton Friedman — “Hayek and Friedman: Head to Head” (pdf).