Wolfgang Münchau

Wow. Wolfgang Münchau on macro:

"The mainstream invested a life’s work in developing their DSGE models. They will not let go easily.... My hunch is that, unlike in mathematics, the successful challenge will come from outside the discipline, and that it will be brutal."

Bernanke on term premiums and wage hikes

German wage hikes: A small step in the right direction by Ben Bernanke

Why are interest rates so low, part 4: Term premiums by Ben Bernanke