Cochrane – ricardian ambivalence

Fiscal v. Monetary Policy

Cochrane has posted his ‘hard debt’ WSJ op ed on his blog. The op-ed deals with three related questions: 1/

Read John Cochrane’s post on the consequences of quasi-fiscal monetary policy for central bank independence. He nails the ECB’s dilemma:

Regular readers will know i have a soft spot for John Cochrane – and while he over-eggs it a little

Cochrane points out the inconsistency between the US administration’s growth forecasts for a strong recovery and those who defend them

Cochrane says you cannot repeal the laws of arithmetic. If the real value of your debt is too high, you

The resilience of the AUD has come as a surprise to many in the market, particularly as the foreign exchange