The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Saturday, July 24, 2010

Krugman on the Fedfail Index and dual mandates

The Fed is semi-unique like the RBA in having a legislated dual mandate. The RBA has more or less dropped its unemployment objective, preferring to focus on price stability, as I outlined the other day. But Paul has kindly obliged with his own version of a "Fedfail Index" based on the Fed's dual mandate.