Christopher Sims and Thomas Sargent won the Nobel Prize in Economics for research on measurement in macroeconomics. While some intellects might not follow The Dismal Science this year, this research has particular relevance for students today.
I feel strongly that the global community is beginning to respond to our shared plight. Why? Three reasons: a shared sense of urgency, a shared diagnosis of the problems, and a shared sense that the steps needed in the period ahead are now coming into focus.
Never before in American history have leaders of any party attacked the Federal Reserve Board for trying to use monetary policy to strengthen the economy during a recession or depression. It has never happened before, not once in American history.
We've had financial bubbles before. This one's got a twist though. It's fraught with complexity, scope, depth, widespread fraud and bad underwriting practices making coming out of it, all the more difficult.
Things got a little weird this week for enthusiasts of monetary policy when Hollywood ankle monitoring bracelet model and sometime actress Lindsay Lohan got all up in the Federal Reserve's grill on Twitter.
Surging international food prices have become a major cause for concern. This is especially so in the Arab world, which is home to some of the largest food importers and where rising food prices have been one of the factors in recent political unrest.
The linkage between monetary policy and oil prices raises questions for how a consistent domestic energy policy can be implemented if critical energy market price signals are distorted by linkages with monetary policy.
The classic safe-haven investment has seen a strong uptrend in value since the autumn of 2008. Various factors have been credited as drivers of this move, but what is the risk gold could lose its luster?