Saturday, January 28, 2017

Why currency devaluations are losing their punch

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Typically a currency devaluation will help domestic firms and harm domestic consumers because it makes exports cheaper in the foreign countr...
1 comment:
Friday, January 13, 2017

RIP, Dewey

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Colleague former Fed Governor Dewey Daane, died last week at 98.   Nice obit in WSJ .  He was one of the first to welcome me to Vanderbilt,...
Monday, January 9, 2017

REPOST: Stossel on Greed

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Wednesday, January 4, 2017

Short-termism is inefficient

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The Knicks basketball team have only a three-year contract with their best young player.  As a result, they have less incentive to worry ab...
3 comments:
Friday, December 30, 2016

How to prevent the next housing crisis

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New research  suggests that lax lending standards caused all borrowers (prime and subprime) to increase leverage.  When house prices decline...
5 comments:
Friday, December 16, 2016

What can Nashville learn from Gurgaon, India?

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2 comments:
Thursday, December 15, 2016

Higher US rates ==> Stronger dollar

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1 comment:
Wednesday, December 14, 2016

Which discount rate should pensions use?

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We have blogged (frequently/excessively) about our unfunded pension liabilities .  Now the largest pension fund Calpers is trying to decide ...
Monday, December 12, 2016

Strategy is simple: "become a monopolist"

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It looks as if Peter Theil has read Chapter 10 : The problem with a competitive business goes beyond lack of profits. Imagine you're r...
6 comments:
Tuesday, December 6, 2016

Falling euro driven by low interest rates and political risks.

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Why has the euro fallen so much against the dollar?   The WSJ has this take : The U.S. Federal Reserve is moving away from monetary easi...