Peter StellaOct 26, 20215 minMoney Velocity: Much Ado About NothingIn a paper soon to be published in the Journal of Applied Corporate Finance I do a back of the envelope calculation of the velocity of...
Peter StellaSep 30, 20213 minSome Incredible Monetarist ArithmeticDuring the last 13 years, the U.S. monetary aggregate known as M1 has grown at an average annual rate of 22.3 %, while inflation has...
Peter StellaSep 30, 20213 minOnly the Few Will Use BitcoinNeither intuition nor economic theory well explain the fact that modern economies require transfers of monetary value on the order of 50...
Peter StellaMar 2, 20213 minLiving Macro Policy in the Fast Lane with J n JIn several ways Janet Yellen and Jay Powell are a macro policy duo unique in American history, owing both to their relative aversion to...