The Phillips curve is flat. We will be burning rubber, leaving skid marks on the road as we enter traffic at speed. We will not boil over and melt our economic engine
Why in the world would anyone but a consol which was not indexed to inflation? Passively watching the value of your "perpetual" security eroded too nothing by even moderate inflation is a mug's game.
It is the gap in price between the inflation-adjusted consol and the non-inflation-adjusted consol that tells us very interesting things about market expectations—or would...
Why in the world would anyone but a consol which was not indexed to inflation? Passively watching the value of your "perpetual" security eroded too nothing by even moderate inflation is a mug's game.
It is the gap in price between the inflation-adjusted consol and the non-inflation-adjusted consol that tells us very interesting things about market expectations—or would...