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On Federal Reserve policy: The “taper” and its shadow: Central-Bank policymakers need to better explain what they see as the risks of further Federal Reserve bond purchases

Brad DeLong, professor of economics | September 28, 2013

We are live at Project Syndicate. The central banks of the North Atlantic have promised that they will not raise the short-term safe nominal interest rates they control until the economies under their stewardship show substantial economic recovery. So far the economies have not done so: they continue to be battered by the destructive fiscal … Continue reading »

The Sword of Greenspan

Carola Conces Binder, Ph.D. candidate, economics | June 23, 2013

According to an ancient Greek parable, Dionysius, the tyrant of Syracuse, had a courtier named Damocles who complemented Dionysius on his wealth and power. Dionysius asked Damocles if he would like to experience the kingly lifestyle. Damocles accepted the offer, and was enjoying the great luxury, until he noticed, hanging above him by a single … Continue reading »