Money and Finance
- Links
Robert Shiller article: The Mystery of Lofty Stock Market Elevations (LINK) Robert Shiller on CNBC (video) (LINK) Andrew Smithers: Long-term investing (LINK) Preventing Another Corinthian (LINK) John Kay: No universal law predicts the outcome...
- Hoisington Q4 2013 Letter
In The Theory of Interest, Irving Fisher, who Nobel Laureate Milton Friedman called America’s greatest economist, created the Fisher equation, which states the nominal bond yield is equal to the real yield plus expected inflation. It serves as the pillar...
- Richard Fisher On Cnbc
Links to videos: Fed's Fisher: We've 'Flooded the Market With Liquidity' Fed's Fisher: 'This is a Judgmental Business' Fed's Fisher: Dodd Frank Law 'Horribly Complex' Fed's Fisher: We Are Having a 'Massive'...
- Jeff Glor Interviews Richard Duncan (video)
Jeff Glor talks to Richard Duncan about, "The New Depression: The Breakdown of the Paper Money Economy Jeff Glor: What inspired you to write the book? Richard Duncan: I was inspired when I read Irving Fisher's "The Purchasing Power of Money" (1912)...
- Hoisington Q2 Letter
The three competing theories for economic contractions are: 1) the Keynesian, 2) the Friedmanite, and 3) the Fisherian. The Keynesian view is that normal economic contractions are caused by an insufficiency of aggregate demand (or total spending). This...
Money and Finance
Garett Jones on Fisher, Debt, and Deflation
Garett Jones of George Mason University talks with EconTalk host Russ Roberts about the ideas of Irving Fisher on debt and deflation. In a book, Booms and Depressions and in a 1933 Econometrica article, Fisher argued that debt-fueled investment booms lead to liquidation of assets at unexpectedly low prices followed by a contraction in the money supply which leads to deflation and a contraction in the real side of the economy--a recession or a depression. Jones then discusses the relevance of Fisher's theory for the current state of the economy in the aftermath of the financial crisis.
- Links
Robert Shiller article: The Mystery of Lofty Stock Market Elevations (LINK) Robert Shiller on CNBC (video) (LINK) Andrew Smithers: Long-term investing (LINK) Preventing Another Corinthian (LINK) John Kay: No universal law predicts the outcome...
- Hoisington Q4 2013 Letter
In The Theory of Interest, Irving Fisher, who Nobel Laureate Milton Friedman called America’s greatest economist, created the Fisher equation, which states the nominal bond yield is equal to the real yield plus expected inflation. It serves as the pillar...
- Richard Fisher On Cnbc
Links to videos: Fed's Fisher: We've 'Flooded the Market With Liquidity' Fed's Fisher: 'This is a Judgmental Business' Fed's Fisher: Dodd Frank Law 'Horribly Complex' Fed's Fisher: We Are Having a 'Massive'...
- Jeff Glor Interviews Richard Duncan (video)
Jeff Glor talks to Richard Duncan about, "The New Depression: The Breakdown of the Paper Money Economy Jeff Glor: What inspired you to write the book? Richard Duncan: I was inspired when I read Irving Fisher's "The Purchasing Power of Money" (1912)...
- Hoisington Q2 Letter
The three competing theories for economic contractions are: 1) the Keynesian, 2) the Friedmanite, and 3) the Fisherian. The Keynesian view is that normal economic contractions are caused by an insufficiency of aggregate demand (or total spending). This...