Subject: EconVue Spotlight October 2, 2016
From: "Lyric Hughes Hale" <[email-masked]>
To: "R. Hunter Biden" <[email-masked]>
Date: Sun, 2 Oct 2016 19:57:28 -0700 (PDT)

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EconVue Spotlight

Dear R. Hunter,

This week we bring you some of the best discussions of the evolution of 
macroeconomic theories post-2008. What seemed so certain before is now 
being questioned at a fundamental level by leading economists. Negative 
interest rates, which alter rational expectations of inflation, have 
also provoked some of this soul searching. But will new models and new 
theories be any better at predicting the next crisis?

STORIES IN OUR SPOTLIGHT 1. Rethinking Macroeconomic Theory Before the 
Next Crisis

https://www.ineteconomics.org/ideas-papers/blog/rethinking-macro-theory

Marc Lavoie 9/23/16 Institute for Economic New Thinking Some economists 
have claimed that mainstream macroeconomic theory actually caused the 
Global Financial Crisis. Others say that in a slow growth, low 
inflation, negative interest rate world, old theories based upon the 
dynamic stochastic general equilibrium model (DSGE) just don ' t apply. 
Is the real key to all the distortions unprecedented income inequality? 
Terrific thought piece. 2. Cheshire Cats and New Keynesian Central Banks

http://worthwhile.typepad.com/worthwhile_canadian_initi/2016/09/cheshire-cats-and-new-keynesian-central-banks.html

Nick Rowe 9/25/16 Worthwhile Canadian Initiative Commentary on&nbsp;Nick 
Rowe's explanation on the New Keynesian DSGE model

http://www.bradford-delong.com/2016/09/must-read-nick-rowe-continues-his-long-twilight-struggle-to-try-to-explain-what-is-really-going-on-in-the-new-keynesian.html

J. Bradford DeLong 9/25/16 bradford-delong .com Another attempt at 
understanding a New Keynesian DSGE model. A world without bonds? 3. EU 
Banking Mayhem, One Bank at a Time, Then All At Once

http://wolfstreet.com/2016/09/28/eu-banking-mayhem-one-bank-at-a-time-then-all-at-once/

Wolf Richter 9/28/16 Wolf Street Although Deutsche Bank had some good 
news in terms of the size of its DOJ settlement on Friday, doubts about 
European banks continue. 4. Modifying the Fed's policy framework: Does a 
higher inflation target beat negative interest rates?

https://www.brookings.edu/blog/ben-bernanke/2016/09/13/modifying-the-feds-policy-framework-does-a-higher-inflation-target-beat-negative-interest-rates/

Ben S. Bernanke 9/13/16 Brookings

It's premature for the Fed to favor the option of raising the inflation 
target over the use of negative rates. (Retweeted Ben Bernanke 
@benbernanke) Lael Brainard also made similar remarks at a speech in 
Chicago. Charles Evans at the Chicago Federal Reserve Bank thinks 
differently, and will be speaking soon in Australia.

5. How Does Your GDP Grow?

https://www.ft.com/content/f5a959a6-7ac6-11e6-b837-eb4b4333ee43

Gillian Tett 9/16/16 FT Is GDP a true measure of growth in an economy 
that is experiencing a population decline? GDP per capita would mean 
that Japan's economy for example, is doing better than it seems. This 
has also been mentioned in a new study by the BOJ that says the Japanese 
economy is really growing by 2.4%. But perhaps not-overall GDP growth is 
an indicator of a nation's ability to repay debt. 6. Great Github List 
of Public Data Sets

http://www.datasciencecentral.com/profiles/blogs/great-github-list-of-public-data-sets

Mirko Krivanek 4/19/15 Data Science Central Looking for some good public 
data sets? @DataScienceCtrl has a great list. (Retweeted Holly Nielsen 
@HollyNielsen) 7. Mongolia: Living from Loan to Loan

https://www.ft.com/content/4055d944-78cd-11e6-a0c6-39e2633162d5

Lucy Hornby 9/12/16 FT In the 1930's a debt crisis in Newfoundland 
caused the dominion to lose its self governing status to Canada. Deja 
vu.

ECONVUE RESEARCH AND INSIGHTS Real Consumption on Track for Near +3% 
Gain in 16Q3

https://econvue.com/reports/michael-lewis/data-round-real-consumption-track-near-3-gain-16q3

Michael Lewis

https://econvue.com/experts/michael-lewis

09/30/16 Though results coasted in August after July's strong start, 
real consumption is on track for just shy of a +3% annualized gain in 
16Q3. Payments Milestones

http://econvue.com/pulse/payments-milestones

Collin Canright

https://econvue.com/experts/collin-canright

09/26/16 Same-day ACH payments rolled out in the United States last 
Friday. All U.S. bank now settle payments during the business day using 
the 40-year-old electronic payment system. TOE Alert: BOJ Throws in the 
Towel

https://econvue.com/reports/richard-katz/toe-alert-boj-throws-towel

Richard Katz

https://econvue.com/experts/richard-katz

09/21/16 It is time for the BOJ to admit that monetary policy is 
absolutely necessary, but not sufficient, to bring back lasting 
inflation. 

https://www.foreignaffairs.com/articles/americas/2016-09-21/trading-down

The Trump and Clinton Foundations Are Character Tests that Hillary 
Clinton Passes and Donald Trump Fails

http://econvue.com/pulse/trump-and-clinton-foundations-are-character-tests-hillary-clinton-passes-and-donald-trump

Robert Shapiro

https://econvue.com/experts/robert-shapiro

09/16/16 The questions raised about the Trump and Clinton foundations go 
to the character of Hillary Clinton and Donald Trump. (EconVue is 
non-partisan.) What Would Einstein Do? Embedded Dilemmas in Disrupting 
Markets

http://econvue.com/pulse/what-would-einstein-do-embedded-dilemmas-disrupting-markets

David W. Johnson

https://econvue.com/experts/david-w-johnson

09/28/16 It's time for health systems "to play the new game" and "strive 
for value." The "new game" requires true alignment with patients – 
meeting their health needs on their terms.

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Spotlight are posted on our website.

With all best wishes,

Lyric Hughes Hale

Editor-in-Chief

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