Pinned
It's now official.
The #WallStreetConsensus will soon be a book - about the return of the transformative state.
There may be some Taylor Swift/Travis Kelce macrofinancial jokes (she inflation targeting, he Big Finance) in it.
Daniela Gabor
@DanielaGabor
Professor of Economics/MacroFinance. Critical macrofinance, central banks, repos, shadow banking, WallStreetConsensus goo.gl/Gqbtll criticalfinance.org
Joined February 2010
- Numerous white professors have been caught faking data or plagiarizing over the years. In every single case they resigned in disgrace, and their papers were retracted. "If Arday were white", that is what would have happened to him, and not a single leftist would be writing
- in 2017, Andy Haldane's speech on Productivity Puzzles did not mention fiscal or public debt once. today, in his arch fiscal conservative turn, he implies there is causality, to push for a derisking state (only spend if it crowds in private capital). ft.com/content/117e3a…
- some of us with memory going back to Lagarde's 2020 'here to target spreads' could think, oh Reinhart-Rogoff but with random dots, or, more cyclically, with election looming, a centrist scaremongering in response to @JLMelenchonUseful to summarize the discussion about debt and spreads in a graph (based on work with @pmbruera and @GonHuertas. Working paper out soon). The blue line shows the “good equilibrium” if investors are rationally optimistic. At very low debt, no risk of default, no spread, then
- Missed this - a model of class struggle!I don't know why The Economist has suddenly turned on Daron but I will say I recently enjoyed looking over this working paper from him which does not seem entirely unrelated. nber.org/papers/w35336
