Brian Romanchuk Blog | Talkmarkets | Page 1
Consultant & Author
Contributor's Links: Bond Econonmics

I have 15 years of experience as a senior quantitative analyst in fixed income. I specialized in the development of research systems and analytics. Currently a consultant and blogger. I have a B.Eng. in electrical engineering from McGill University, and a Ph.D. from the University of Cambridge ... more

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Yet Another Strawman Attack On MMT
The number of bad takes on MMT has slowed down, but they are still arriving.
The New Gold
The recent rise of Bitcoin (BTC) has brought a new wave of triumphalist propaganda across the internet, along with annoying responses by critics.
The Great Vacation: Recessions In DSGE Models (Part II)
We can simplify matters if we realize that what matters within the model are relative prices. This means that we can look at real wages (nominal wages divided by the goods price index) as well as the real stock of financial assets. 
The Great Vacation: Recessions In DSGE Models (Part I)
Neoclassical models are built around optimizing behavior. The logic for this is somewhat reasonable: one should expect the private sector to look out after its own interests, and not be tricked by policymakers into self-defeating behavior.
Primer: Labor Markets In Neoclassical Models
Within standard economic models where production is mainly a function of capital and labor, given that productivity is normally fairly stable, we can only generate a recession via a drop in employment.
Capital Complexities
The definition and treatment of capital is an important issue that arises quickly when discussing neoclassical approaches to the business cycle.
Academic Finance Destroys Yet More Capital
The recent equity market shenanigans has confirmed one of my biases: modern academic finance has been very good at destroying capital.
Yield Curve Slope Correlations
When looking at bond yields, one should keep in mind that the entire yield curve is a mathematical object.
Minimum Wage Effect At The National Level
The possibility of an increase in the minimum wage at the Federal level of the United States is an extremely interesting reform.
Political Posturing: Prospects For Inflation?
There has always been hyperbole about elections - "the most important election since 1920." From the perspective of economic institutions, it is hard to see any fundamental changes since the 1990's. Yet, one can see a story where things have changed.
Treasury Sell-Off Following Past Patterns
The sell-off in the Treasury market is following the footsteps of other mini-bear markets that have happened at the tail end of recessions.
Fiscal Dominance As Obfuscation
Fiscal dominance is going to be an extremely common buzzword in the coming years, mainly because its use provides a mechanism for discussing the relationship between monetary and fiscal policy in plain English.
Recovery In U.S. Inflation Breakevens Not Surprising
The rise in breakeven inflation in the United States is not particularly surprising, as it is just a return to projecting previous conditions forward.
Comments On Recent Fiscal Policy Articles: What Are The Limits?
With the vaccine roll-out starting, people are turning back to discussing fiscal policy. There has been some signs of shifting in "mainstream" views, but it is unclear how much the free-market wing will change their views.
Rajan Accuses MMT Of Making Errors Made By Mainstream
Modern Monetary Theory theorists say that central bank purchases of central government bonds does not do much if interest rate policy is not changed. The question is: why do mainstream central bankers follow the policy?
Side Effects Of Stability Of DSGE Models
The stability of the solutions of workhorse dynamic stochastic general equilibrium (DGSE) models is a major drawback of these models when trying to explain recessions.
1 to 16 of 40 Posts
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