2008 Nobel Prize winner Paul Krugman comments on Nick Rowe
2008 Nobel Prize winner Paul Krugman comments on Nick Rowe
Paul Krugman, 2008 Nobel Prize winner and Op-Ed columnist for the New York Times, recently posted the following piece citing Nick Rowe from the Department of Economics, on his NY Times blog.
Hey, who you callin’ neo-Wicksellian? (wonkish)
Nick Rowe argues that the neo-Wicksellian approach of much modern macroeconomics — by which he means the tendency to define monetary policy in terms of the choice of a short-term interest rate — leaves economists ill-equipped to think about monetary policy once interest rates have hit the zero bound….