Publications for Download
I have started two new publications, which I provide free of charge. These are Common Sense Economics and CSE Perspective. The titles come from my first course in economics: On the first day of class, the professor described economics as “common sense made difficult.” I have never forgotten this, and my career as a professional economist has shown me that there is considerable truth in this statement. Common Sense Economics focuses on economic ideas that are misleading, ill-conceived, or much simpler than they appear. CSE Perspective presents my perspective on a wide range of topics. I hope my readers find these publications interesting, thought provoking, and useful.
Common Sense Economics
Evaluating the Effectiveness of Monetary Policy
Does Aggregate Supply Exist? Should We Care?
Money Demand in Financially Sophisticated Economies
Common Sense Economics, Perspectives
Untangling Causes from Effects of the Financial Crisis
Structure Matters in Government
What Will Happen if Greece Exits the Euro?
The Fed's Lack of Confidence in the Economy's Healing Powers
Why Has Economic Growth Slowed In China?
The Rain Man and the Fed's Ability to Control Interest Rates
The Link Between Monetary Policy and Exchange Rates or Inflation
Is the Fed Monetizing the Debt?
What's Positive About Negative Interest Rates?
Why the Fed's Zero Interest Rate Policy Failed
The Fed's Monetary Policy: Excess Reserves, and Excessive Risk Taking
Will the Fed Raise Rates Before the Election?
Why Larry Summers is Wrong About Slow Growth
Is the Fed Waking Up to Reality?
Economic Theory and the BREXIT Question
Another Unintended Consequence of QE
The Fed Needs to Normalize Now
Dissecting Yellen’s Jackson Hole Speech
Dissecting Yellen’s Speech A Clarification
The Feds Impending Inflation Disaster?
The Feds Impending Inflation Disaster?: A Clairification
Economic Growth: Does the Party of the President Matter?
First page 2017.06 Here's The Only Way to Prevent Too Big To Fail
First page 2017.07 Here's The Only Way to Prevent Too Big To Fail
Why We Need to End Too Big to Fail
Policymakers Don't Understand the Money Supply Process
Its Time to Change the Monetary Policy Debate
The Limits of Monetary Policy Why Interest Rates Don't Matter
The Limits of Monetary Policy Can the Fed Affect Interest Rates?
The Limits of Monetary Policy Can the Fed Affect Output Growth?
The Limits of Monetary Policy Things the Fed Cannot or Should Not Do
What's All The Fuss about Bitcoin?
Markets Needn't Panic About Normalization
QE Was Effective: Show Me Your Evidence
How and Why the Fed Stumbled into QE
The Myth of Potential Output Revisited
Congress Needs to Order the Fed to Stop Interest Rate Targeting
The Folly of Negative Nominal Interest Rates
Common Sense Reasons Interest Rates Don't Matter For Policy
The Usefulness of Models for Economic Policy
The Fed's 3.9% Unemployment Rate
r-Star The Unnatural Natural Rate of Interest
The Effect of the Fed's Policy on Output and Employment
Congress Need to End the Charade and Fix Social Security
Will the FOMC Adopt Nominal GDP Targeting?
Understanding the Accelerating Deficit Debt Problem
The Insanity of Government-Fianced Mortgages
In Defense of Stephen Moores Nomination
Pulling Back the Curtain on the Feds Mystique
The Feds Monetary Policy Metamorphoses Past and Present
A Question Policymakers Need to Answer
The Fed's Rate Cut was a Mistake
The Politicalization of the Fed and How to DePoliticalize It
Protecting the Feds Independence Dudleys Way
The Politicalization of the Fed Revisited
What Really Fuels Economic Growth
Alan Blinder's Odd Monetary Policy Recommendation
The Fed Has Surrendered Its Independence
Economic Growth 2.3% I Told You So!
Again, Its Important to Get It Right
On the Feds Ability to Affect Interest Rates
The Feds Monetary Policy Reaches a New Low
The Government Bailout What It Did and What It Should Have Done
Hoarding TP Is More Rational Than You Think
Monetary Policy What I Believe and Why I Believe It
Requiem for Fed Independence A Clarification
Modern Monetary Theory and the Impending Financial Crisis
Alan S. Blinder's Scarlett O'Hara Approach to the National Debt Problem
The Feds Complicity in the Debt Problem
WSJ - If Inflation Starts, It will Be Hard to Corral, June 8, 2020
The Economics of Making Wearing a Mask a Requirement
Reasons to Question the Effectiveness of the Feds Interest Rate Policies
Three Monetary Policy Questions My Answers
OpEd Letter Financial Times, August 6, 2020
Economic Growth Whats Politics Got to Do with It
The Feds Bizarre New Longer-Run Monetary Strategy
The Mystique of the All-Powerful Fed
Trumps Economic Policies Unsuccessful When Evaluated Correctly
Why Were the Pollsters So Wrong?
WSJ Letter re Republican Party
Requiem for Fed Independence No. 25
Can The Fed Control Long Term Rates What the Facts and Theory Tell Us
The US Deficit History - Just the Facts
The US Deficit History - Just the Facts Revisited
The Minimum Wage Don't Ignore the Science
QEs Effect on Long Term Rates Its Not Working and Never Has
The Feds Long Term Bond Buying Playing with Fire
The Fed Has the Tools to Prevent Inflation. What Tools?
The Problem With the Fed: Too Much Groupthink
Will the Fed Create a Digital Dollar?
Economic Growth Monetary and Fiscal Policy Can't Help
The Effectiveness of the Feds QE Policy
Hanke and Hanlon's Nonsense Explanation for Inflation
Some Thoughts About Inflation and the Feds Ability to Control It
Its Time the Fed Stops Using Core Inflation
Core Versus Headline Inflation Again
My Favorite Chart Revisited A Pyschics Dream
The Effect of the Feds Interest Rate Hikes on Mortgage Rates
What Does the Current Inflation Tell Us About Inflation Targeting
More Evidence the Fed Doesn't Affect Mortgage Rates
A Litmus Test of Fed Independence
Core versus Headline Inflation Revisited
The Feds Financial Stability Report Card
Debt Fact That Everyone Should Know
President Biden's Deficit Reduction Plan Won't Work
The Effect of Changes in the Fed's Target on Interest Rates
The Effect of the Fed's Target on Interest Rates A Clarification
Will the Inflation Rate Increase?
A Higher Inflation Target Is a Tired Old Idea
Monetary Policy Makers and Advisors Need to Get Real
Its Time the Fed Stopped Paying Banks Interest to Hold Reserves
A Graph that Mimics the Governments Disastrous Policies Since 1990
When Will the Fed Start Reducing its Rate?
Higher Capital Requirements Wont Prevent a Financial Crisis
Government Economists and Central Bankers Slept Through Econ 101
The Feds Response to Inflation Was Anything But Aggressive
The Reason the Fed Follows the Market
More Monetary Policy Insanity Price Fixing Consultation Services
I provide economic consulting services in the areas of economics, finance, and data analysis. My approach to data analysis is somewhat unique: I provide an up-to-date statistical analysis of your data, but I also offer a perspective that statistical analyses alone cannot provide. I will take the time to understand your problem or concern so I can recommend appropriate steps to take to reach your goals.
To discuss your needs and to get a quote call me at 314-348-9900 or contact me at dan@dlthornton.com.
Guest Speaker
I am available to speak at a variety of functions on a variety of topics, such as the economic outlook, monetary policy, fiscal policy, the financial crisis, the federal deficit, U.S. and global debt, and leadership. I can tailor the content and delivery of speeches and presentations to your specific audience and topic. Unlike many speakers who often generalize and speak in overly broad terms, I will provide an analysis that is supported by facts and well-founded economic theory, not speculation. My speaking fees depend on the type of organization (non-profit, economic education, or other) and the specific function.
To discuss your needs and to get a quote call me at 314-348-9900 or contact me at dan@dlthornton.com.