Long-Term TIPS: A Good Deal

Michael Ashton - 03/24/10

The Hedonic Adjustment Also Rises

Michael Ashton - 03/09/10

Cognitive Errors And The CPI

Michael Ashton - 02/17/10

Inflation Models Suggest Bottom In 2010Q3

Michael Ashton - 01/29/10

Hayek versus Keynes...In Verse

Michael Ashton - 01/28/10

Central Bank Dilemma: Choosing The Stable Parameter

Michael Ashton - 01/05/10

 

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Long-Term TIPS: A Good Deal

by Michael Ashton on March 24, 2010

A bottom-up approach to long-run expected equity returns suggests that long-term TIPS are priced to return a similar rate with less volatility, even if stocks are only fair value rather than expensive. Read more »

The Hedonic Adjustment Also Rises

by Michael Ashton on March 9, 2010

Although many people believe that when the BLS hedonically adjusts price indices to reflect changes in quality it systematically dampens recorded inflation, there is at least one significant example of hedonic adjustment being used to increase recorded inflation for a large part of the index. Read more »

Cognitive Errors And The CPI

by Michael Ashton on February 17, 2010

The Government is not beaming secret messages into our brains, and it isn't manipulating CPI to hold down transfer payments, either. Here are the main reasons people perceive more inflation than there actually is. Read more »

Inflation Models Suggest Bottom In 2010Q3

by Michael Ashton on January 29, 2010

With the latest data plugged in, our models are calling for core inflation to bottom in late Q3 and accelerate in Q4. Read more »

Hayek versus Keynes...In Verse

by Michael Ashton on January 28, 2010

We rarely post anything with no additional comment, but this link to a terrific video comparing Keynes' theories to Hayek's is terrific. Read more »

Central Bank Dilemma: Choosing The Stable Parameter

by Michael Ashton on January 5, 2010

A recent opinion paper out of the St. Louis Fed argues that the Fed ought to "hierarchically" stabilize inflation first and then turn to growth. But the author's argument is incompletely formed, and in fact is probably a better argument for an ad hoc approach, or alternately a laissez faire approach! Read more »