Category Archives: Economics

September in Paris

In a previous post, I described a paper on sovereign debt by Mattia Landoni (Cox School of Business – Southern Methodist University), Christopher Cameron (US Treasury), and me.  Our paper gives a simple way to relate debt management policies and … Continue reading

Posted in Bonds, Economics, Math | Tagged , , | Leave a comment

Bond Talk on May 23

‏If you’re in Denver on May 23 and you’re interested in the bond market, join us for a QWAFAFEW* talk: Predicting the Supply of Long-Term Bonds.  The talk will be based on a new paper by Mattia Landoni, Chris Cameron, … Continue reading

Posted in Bonds, Economics, Math | Tagged , , , , | Leave a comment

New Paper on Bond Portfolio Dynamics

  Mattia Landoni (SMU Cox School of Business) and I recently completed a paper on bond portfolio dynamics (now under review at an academic journal). We offer a new theory on the evolution of the maturity structures for rolling bond … Continue reading

Posted in Bonds, Economics, Math, Optimization | Tagged , , , | 2 Comments

The Invisible Run-Off

Today, the Alphaville section of the Financial Times published The invisible run-off, in which I discuss a new source of “quantitative tightening” that almost no one seems to have noticed.  I estimate that $350 billion of private funds will be … Continue reading

Posted in Bonds, Economics | Tagged , , , | Leave a comment

My Letter to the Wall Street Journal

The Wall Street Journal just published a letter of mine, Debt Bomb has Shorter Fuse Than Many Citizens Think (credit to them for the snappy title, and to my wife Corrina for invaluable editing).  I respond to the Journal’s recent editorial Obama’s … Continue reading

Posted in Bonds, Economics | Tagged , , | Leave a comment

Fifth Annual Municipal Finance Conference

On July 12, this year’s Municipal Finance Conference will be held for the first time at the Brookings Institution in Washington, D.C.   The other sponsors are the Brandeis International Business School and the Olin Business School at Washington University in … Continue reading

Posted in Bonds, Economics | Tagged , , , | Leave a comment

The Money We Live With

My friend Matt Hergott has just published The Money We Live With: Understanding the World Through the Prism of Modern Money, an Amazon eBook. From the Introduction: This book is about contemporary money, how it is used by policymakers to … Continue reading

Posted in Economics | Tagged , , , | Leave a comment