Category Archives: Macroeconomics

inquiry: Yield Curve Inversion

Can someone direct me to a good Hayekian explanation of the inverted yield curve phenomena: Click to enlarge. ht Mish.

Posted in Macroeconomics, Monetary Theory | 2 Comments

macro: Are We All Hayekians Now?

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

Posted in Keynes, Macroeconomics | 1 Comment

macro: Why Does Hayek Advocate Explanding Money to Avoid a “Secondary Depression”

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

Posted in Macroeconomics, Monetary Theory | 2 Comments

macro: Hayek vs Keynes Still Matters

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

Posted in Keynes, Macroeconomics | Comments Off on macro: Hayek vs Keynes Still Matters

macro: Friedrich Hayek vs Milton Friedman

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).

Posted in Friedman, Macroeconomics | 1 Comment

macro: Why is Brad DeLong so Dumb?

Roger Garrison is a gentleman and a scholar, and he’s never title a paper like that, instead he’s sought to account for why Brad DeLong is so dumb in a paper titled, “Mainstream Macro in an Austrian Nutshell.” As a … Continue reading

Posted in Boom & Bust, Brad DeLong, Macroeconomics, Roger Garrison | Comments Off on macro: Why is Brad DeLong so Dumb?