Some comments on a recent paper by Robert E. Hall and Ricardo Reis (Maintaining Central-Bank Solvency under New-Style Central Banking).
This morning I am giving a talk to a meeting in Dublin of the chairpersons of the 27 EU finance committees. It’s my understanding that the meeting is being is being webcasted live at this site beginning at 8.15 Irish time. The text of my talk is available here.
A post about the disappearance of IBRC’s equity that occurred via the promissory note bond swap.
Some thoughts on Olli Rehn’s recent letter to European finance ministers on the “unhelpful” IMF research on fiscal multipliers.
A bit slower than I had intended but here is a detailed post on Ireland’s new arrangements for dealing with the IBRC debt.
Update: Here is a new post that I wrote containing an alternative set of calculations that assume a faster pace of bond sales by the Central Bank of Ireland.
I’ve been very busy because of personal and professional commitments over the past few weeks and haven’t had any time for blogging. I’m planning to post some stuff soon (starting with comments on the promissory note deal). Here‘s a post that discusses a talk I gave on Friday at a Chicago Booth workshop called “How Costly Would a Euro Exit Be?”