Brian Romanchuk | TalkMarkets | Page 1

Brian Romanchuk

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 in ...more
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Comments On Asset Prices And Inflation Targeting
Friday, March 29, 2024 3:25 PM EDT
Central banks can easily target asset prices comes from an extremely dubious analogy to the Gold Standard – where the gold price was pegged. However, the reasons why the Gold Standard functioned no longer apply to any financial asset.
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"The Debt Crisis Is Here": The Conference Board Is At It Again
Thursday, March 7, 2024 4:14 PM EDT
The discussion of interest costs also underlines the incoherence of conventional thinking: interest costs are rising because the central bank is raising rates because it wants lower inflation.
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What Is Neoclassical Economics?
Sunday, February 11, 2024 8:20 PM EDT
I use "neoclassical economics" as a synonym for “modern mainstream academic macroeconomic theory,” which may not coincide with other definitions.
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Should Central Banks Lend Unsecured To The Private Sector?
Tuesday, December 12, 2023 4:32 PM EDT
Unsecured lending by the central bank to the private sector is just a means of handing control of the public purse to unelected bureaucrats.
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Using Fed Projections To Infer The Term Premium?
Wednesday, December 6, 2023 6:14 PM EDT
Although we could test theories about a six-month term premium, we do not have data to confirm or deny any theory about the 10-year yield. 
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The Central Bank And Government Finance
Thursday, November 30, 2023 10:20 AM EDT
Central banks were not set up as a charity to employ economists with delusions of grandeur, they are there to ensure the smooth functioning of government finance.
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Central Bank Balance Sheets
Tuesday, November 28, 2023 8:44 AM EDT
Central bank balance sheets are relatively simple. There is a split between banks with a currency peg and those without.
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Central Bank Banking Basics
Thursday, November 23, 2023 7:00 PM EDT
Central banks are at the centre of the banking system. The objective of a well-run banking system is that you do not have to worry about how it works.
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Central Banks As Banks
Tuesday, November 21, 2023 6:29 PM EDT
If we put aside the debatable effect of interest rate policy, central banking is mainly about ensuring cash flows flow where they are supposed to.
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"So How Did You Lose Money Buying Risk-Free Bonds?"
Wednesday, November 15, 2023 5:55 PM EDT
Although government bonds are often described as “risk free,” that really refers to credit risk free — floating currency sovereigns are effectively immune to involuntary default for financial reasons. 
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Employment-Population Ratio Revisited
Wednesday, November 8, 2023 8:52 AM EDT
From an inflation theory point of view, the breakdown of various capacity metrics in response to structural changes in the economy makes it difficult to test quantitative models.
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No, QE Is Not Costless
Friday, November 3, 2023 5:56 PM EDT
The United States has put itself into an awkward macro stabilisation situation with respect to interest rate expenditures, it is the result of the brain trust at the Federal Reserve.
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Inflation Theories
Friday, October 27, 2023 5:43 PM EDT
If we were to approach economics like the physical sciences, we would simply evaluate the quantitative outputs of the models on a quantitative basis.
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"Paying For Two Wars"
Thursday, October 19, 2023 1:42 PM EDT
People who approach politics with a strong economic theory bias are doomed to disappointment.
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Slopes And Recession Probabilities
Tuesday, October 17, 2023 9:51 AM EDT
Since bond prices move in the opposite direction of yields, a bear market is yields going up, while a bull market is yields going down.
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The "Economists Monkeying With The CPI" Debate
Friday, September 8, 2023 2:06 AM EDT
The changes made to the CPI only appear to have lowered reported CPI inflation by much less than 1% per year,.
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