by John H. Cochrane via Wall Street Journal
Bank of America
interview with Stephen Habervia Wall Street Journal Live
Euro with a life saver
by Michael J. Boskinvia Project Syndicate
Economic Crisis
by John B. Taylorvia Wall Street Journal
Tax cuts and reforms
interview with Edward Paul Lazearvia Bloomberg Television
Marriner S. Eccles Federal Reserve Board Building
by John B. Taylorvia Economics One

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Featured Commentary

Across the Great Divide: New Perspectives on the Financial Crisis

by John B. Taylorvia Economics One
Wednesday, October 1, 2014

A year ago today, the Hoover Institution and the Brookings Institution held an unusual joint conference on the financial crisis, where twenty-four economists and legal scholars reexamined the crisis, its effect on the US economy, and possible policy reforms. The participants were spread between two venues: Hoover at Stanford and Brookings in Washington.


Time Inconsistency in Tax Policy: A Colombian Case Study

by David R. Hendersonvia EconLog
Tuesday, September 30, 2014

This discussion is related to the time inconsistency of optimal policy, which occurs when the government cannot implement an optimal tax policy because the stated policy is inconsistent with the government's incentives over time. Consider a proposal made by the government of Colombia in 2002.

Featured Commentary

Letter to the Editor: Economics Books are Quite the Opposite of What the FT Thinks it Teaches

by Mark Harrisonvia Financial Times
Tuesday, September 30, 2014

Sir, You write (editorial, September 26) that economics courses too often begin with “how rational agents interact in frictionless markets”, and only later proceed to “anti-competitive practices or unstable financial markets”. This is not so: the problem is quite the opposite. All introductory textbooks quickly cover imperfect markets and the government interventions required to correct them.

Other Media

Lloyds Dismisses Eight Staff Over Libor

quoting Lee Ohanianvia BBC News
Monday, September 29, 2014

The move follows the bank's £218m fine in July for "serious misconduct" over the setting of Libor.


Why and How We Care About Inequality

by John H. Cochrane via Grumpy Economist
Monday, September 29, 2014

Note: These are remarks I gave in a concluding panel at the Conference on Inequality in Memory of Gary Becker, Hoover Institution, September 26 2014. The conference program here, and John Taylor's summary here, where you can see the great papers I allude to. I'll probably rework this to a more general essay, so I reserve the right to recycle some points later.

Featured Commentary

Martha Nussbaum on Creating Capabilities and GDP

by Russell Robertsvia EconTalk
Monday, September 29, 2014

Martha Nussbaum of the University of Chicago and author of Creating Capabilities talks with EconTalk host Russ Roberts about an alternative to GDP for measuring economic performance at the national level. She is a proponent of the capabilities approach that emphasizes how easily individuals can acquire skills and use them, as well as the capability to live long and enjoy life. Nussbaum argues that government policy should focus on creating capabilities rather than allowing them to emerge through individual choices and civil society.

Featured Commentary

Inequality Conference in Memory of Gary Becker at Stanford’s Hoover Institution

by John B. Taylorvia Economics One
Monday, September 29, 2014

Last Thursday and Friday the Hoover Institution at Stanford hosted a wonderful Conference on Inequality in Memory of Gary Becker. John Raisian and I opened the conference commenting on the appropriateness of both the venue and the topic: Gary spent a great deal of time doing research at Hoover over the years, and he began diagnosing and recommending policy solutions to inequality problems decades ago, long before the current explosion of popular interest.

Featured Commentary

Richard Epstein on the John Batchelor Show (19:32)

interview with Richard A. Epsteinvia John Batchelor Show
Thursday, September 25, 2014

Senior Fellow Richard Epstein discusses corporate responsibility on the John Batchelor Show.

Poverty in the US

Spot the Problem

by David R. Hendersonvia EconLog
Thursday, September 25, 2014

In a July post, Matt Bruenig estimates that in the absence of government programs to alleviate poverty, the percent of Americans who would be officially classified as poor would be a whopping 23.8% versus what it actually is: 15%.

Federal Reserve

John Cochrane on WSJ Live

interview with John H. Cochrane via Opinion Journal (WSJ Live)
Wednesday, September 24, 2014

Senior Fellow John Cochrane discusses the internal politics of the Federal Reserve on WSJ Live.


Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple

Policy Seminar on the economic situation in Europe