Practical analysis for investment professionals

fiscal policy


Demand Destruction? Two Reasons to Be Skeptical

Demand destruction does not guarantee disinflation.

Cochrane and Coleman: How Do You Solve Inflation?

"The economic problem now is to control inflation and get to work on the supply side of the economy."

Cochrane and Coleman: The Fiscal Theory of the Price Level and Inflation Episodes

John H. Cochrane and Thomas S. Coleman discuss how the fiscal theory of the price level explains inflation.

Progress in Economics

How has the consensus among economists on such issues as deficit spending and population growth shifted over the decades?

Monetary and Fiscal Policy Post-COVID-19: Four Themes

Rob Arnott, Joyce Chang, and Louis-Vincent Gave offer their perspectives on the policy landscape and its implications for investment strategy.

Post–COVID-19 Europe: Three Scenarios

Austerity, mutualization, monetization, or some combination thereof? What path will Europe take?

Eurozone Recovery Falters — What’s Next?

Powerful new instruments have to be created to revive a flagging eurozone economy.

Waiter, Can We Have the Bill Please? Republican Tax Reform in One Chart

For everyone who has not read the Republican tax legislation in full, Joachim Klement, CFA, provides a concise summary of its costs and benefits in one chart.

Recommended Reading: Understanding the Fiscal Cliff

Last week Fed Chairman Ben Bernanke once again warned Congress about the impending fiscal cliff. To be sure, there are a lot of perspectives on this issue and many players weighing in. We've rounded up highlights from the multitude of opinions on Capital Hill and Wall Street.

Fiscal and Monetary Policy: Both Moving in the Wrong Direction?

Operation twist is scheduled to end, and the Fed seems intent on replacing it with a program of buying longer-term U.S. Treasuries. Now more than ever, there seems to be a dramatic divergence between the paths of monetary and fiscal policies.



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