Volume and Information

This is a little essay on the puzzle of volume , disguised as comments on a paper by Fernando Alvarez and Andy Atkeson , presented at the  ...

A Behavioral new-Keynesian Model

Here are comments on Xavier Gabaix' " A Behavioral new-Keynesian model ." Xavier presented at the October 21 NBER Economic Fl...

Yellen Questions

Fed chair Janet Yellen gave a remarkable speech at a Fed conference in Boston. I have long wanted to ask her , "what are the questions...

New Paper

A draft of a new paper is up on my webpage , " Michelson-Morley , Occam and Fisher: The Radical Implications of Stable Inflation at Nea...

Good Review

Frank Diebold , on Mostly Harmless Econometrics : All told , Mostly Harmless Econometrics: An Empiricist's Companion is neither ...

Target the spread

What should the Federal Reserve do , to control inflation , given that nominal interest rate = real interest rate + expected inflation , ...

Covered Interest Parity

Here's how covered interest parity works. Think of two ways to invest money , risklessly , for a year. Option 1: buy a one-year CD (conc...

More good finance articles

The February Issue of the Journal of Finance made it to the top of my stack , and it has a lot of good articles. The first two especially c...