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Making sense of the global economy and financial markets
By Matthew C. Klein
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Immaculate Disinflation Hopes Dashed?
The latest data on wages suggest that declining job market churn has not been sufficient to normalize the pace nominal income growth.
Dec 3
19
4
"Slouching Towards Utopia" and "The Long 20th Century"
Brad Delong's new history makes an important point well, and gave me a lot of food for thought. But I have some quibbles.
Nov 30
27
2
Russian Imports Seem to Have Stabilized
The latest data imply that little has changed since August.
Dec 7
13
Trade Wars Are Class Wars, 34 Months Later (Part 2)
What the return of inflation means, and doesn't mean, for our understanding of the link between inequality and underconsumption.
Nov 21
20
3
Most popular
Inequality, Interest Rates, Aging, and the Role of Central Banks
23
2
Wages, Prices, and Taming U.S. Inflation
28
3
The Japanese Government Is Right to Defend the Yen (Part 1)
24
Is the 2022H1 GDP Decline...Fake?
18
5
The Covid Recovery Looks Different Now
29
10
Immaculate Disinflation Hopes Dashed?
19
4
See all popular
New
Community
Patience on Inflation Is Paying Off. Sort of.
Goods prices are falling and input costs have mostly stopped rising. Wage gains associated with labor market churn have slowed, although not enough…
Nov 17
17
2
Russia Sanctions, "Mobilization", and Capital Flight
Total imports have largely recovered thanks to surging exports from China and Turkey. Also: figuring out where the current account surplus has been…
Nov 8
14
The Japanese Government Is Right to Defend the Yen (Part 2)
More details on Japanese financial positions and the state of yield curve control.
Nov 1
20
1
The Japanese Government Is Right to Defend the Yen (Part 1)
Japan's unique balance of payments and inflation dynamics allow the Ministry of Finance to focus on supporting the currency even as the Bank of Japan…
Oct 28
24
Wages, Prices, and Taming U.S. Inflation
Temporary forces that pushed annualized inflation into the double-digits are going into reverse. The remainder is being determined (mostly) by the pace…
Oct 19
28
3
Some Chinese Balance of Payments Puzzles
I just want things to make sense.
Oct 13
18
Looking at Japan with FT Unhedged
What makes the economy different, and why this (might) make Japanese stocks relatively attractive.
Oct 3
30
1
The Covid Recovery Looks Different Now
The BEA has updated its estimates of everything from private sector wages to spending at restaurants and dividend payouts.
Oct 1
29
10
See all
Most popular
Inequality, Interest Rates, Aging, and the Role of Central Banks
23
2
Wages, Prices, and Taming U.S. Inflation
28
3
The Japanese Government Is Right to Defend the Yen (Part 1)
24
Is the 2022H1 GDP Decline...Fake?
18
5
The Covid Recovery Looks Different Now
29
10
Immaculate Disinflation Hopes Dashed?
19
4
See all popular
The Overshoot
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