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The Revenge Of Supply

by John H. Cochranevia Project Syndicate
Friday, October 22, 2021

Policymakers should not have been caught off guard by surging prices and shortages of goods and labor. Practically the entire post-pandemic agenda is built around policies that stoke demand and discourage work, making supply-side constraints entirely predictable.

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GoodFellows: Big Three Summit

interview with John H. Cochrane, Niall Ferguson, H. R. McMaster, Bill Whalenvia Fellow Talks
Friday, October 15, 2021

The 60th episode of the series includes a first: the three “Good Fellows” mixing it up in person, in the same room, on the grounds of the Hoover Institution. Hoover senior fellows Niall Ferguson, H. R. McMaster, and John Cochrane discuss Congress’s handling of the Afghanistan debacle, pushback against COVID vaccine mandates, the present supply-chain “crisis,” and Facebook’s uncertain future—plus one fellow’s deep disdain for the music of Pink Floyd.

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GoodFellows: Economists Rule?

interview with John H. Cochrane, Niall Ferguson, Tyler Goodspeedvia Fellow Talks
Wednesday, October 6, 2021

As Washington mulls trillions in “human infrastructure” spending and remains at an impasse over raising the federal debt ceiling, what are the economic consequences? Hoover senior fellows Niall Ferguson and John Cochrane are joined by economic historian Tyler Goodspeed, Hoover’s Kleinheinz Fellow and a former acting chair of the White House’s Council of Economic Advisers, to discuss the latest DC drama, the present supply-chain crisis and cryptocurrency’s future.

Analysis and Commentary

Policy Seminar With Nicolas Caramp

Wednesday, October 6, 2021
Virtual Meeting

Nicolas Caramp, associate professor of economics at the University of California, Davis, discusses “ Fiscal Policy and the Monetary Transmission Mechanism,” a paper with Dejanir Silva.

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Economists Rule?

interview with John H. Cochrane, Niall Ferguson, Tyler Goodspeed, Bill Whalenvia GoodFellows: Conversations From The Hoover Institution
Wednesday, October 6, 2021

As Washington mulls trillions in “human infrastructure” spending and remains at an impasse over raising the federal debt ceiling, what are the economic consequences? Hoover senior fellows Niall Ferguson and John Cochrane are joined by economic historian Tyler Goodspeed, Hoover’s Kleinheinz Fellow and a former acting chair of the White House’s Council of Economic Advisers, to discuss the latest DC drama, the present supply-chain crisis and cryptocurrency’s future.

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Grumpy Economist: What’s In The Reconciliation Bill? A Conversation With Casey Mulligan

interview with Casey B. Mulliganvia The Grumpy Economist | A Podcast with John H. Cochrane
Tuesday, October 5, 2021

The  incentives and disincentives in the reconciliation bill.

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The Libertarian Podcast: It’s Not Our Default: Massive Spending And The National Debt

interview with Richard A. Epsteinvia The Libertarian
Friday, October 1, 2021

As Congress debates spending bills that total trillions of dollars, the debt ceiling looms in just a few weeks.

Policy Seminar with Mickey Levy and Peter Ireland

Wednesday, September 29, 2021
Virtual Meeting

Policy Seminar with Mickey Levy, Chief Economist, Americas and Asia at Berenberg Capital Markets, and Peter Ireland, the Murray and Monti Professor in the Economics Department at the Morrissey College of Arts & Science at Boston College.

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The Origin Of The Crisis In The Lebanese Banking Sector

by Alain Bifanivia The Caravan Notebook
Tuesday, September 28, 2021

Lebanon offers a case study in financial collapse. Never had an economy fallen so brutally, nor had a banking crisis been left so unmanaged, with predatory and irresponsible elites denying evidence of deterioration as depositors’ money evaporated. The failure was abrupt but originated from an illness that started long ago. This paper follows the crisis through its various stages to its lowest depths and warns that it risks changing Lebanon forever.

Analysis and Commentary

Treasury Holdings

by John H. Cochranevia The Grumpy Economist
Monday, September 27, 2021

Another great graph from Torsten Slok at Apollo. Foreigners hold less, Fed holds more. However, the Fed doesn't really hold Treasurys. The Fed turns Treasurys into interest-paying reserves, which banks hold. And banks turn reserves into bank deposits and other assets which we hold. 

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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