Category Archives: business cycles

Yellen announces 25 basis point rate increase. Will this dampen Trump’s infrastructure stimulus ?

Posted on December 15, 2016 by haroldchorneyeconomist

The chair of the Federal Reserve Janet Yellen has announced a small but policy significant increase in their targeted range for interest rates from 0.25% to 0.50 % to 0.5% to 0.75%. The over night funds rate sits at 0.41% … Continue reading →

Posted in anti austerity, business cycles, Canada, Uncategorized | Tagged , , | Leave a comment

After the Crash:Rediscovering Keynes and the origins of quantitative easing (2nd posting)

Posted on September 9, 2016 by haroldchorneyeconomist

By Harold R.Chorney Professor of Political economy, Concordia University Montréal, Québec Preface: More than twenty five years ago I began to write about problems of public finance.( Chorney, 1984) At the time that I began to do so, I never … Continue reading →

Posted in austerity, business cycles, Canada, China and europe, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, Federal Reserve, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Hayek, Italian debt crisis, J.M.Keynes, Japanese unemployment, Keynesian multiplier, monetary policy, quantitative easing, quantity theory of money, treasury view, U.K. economy, U.S., Uncategorized | Tagged , , | Leave a comment

Keynes, Lerner and Friedman in an Uncertain Age paper presented to Canadian Economics Association meetings , Vancouver May 31, 2014

Posted on May 22, 2014 by haroldchorneyeconomist

Keynes, Lerner and Friedman in an uncertain age by Harold Chorney Professor of Political Economy Graduate Program in Public administration                                  and Public Policy Dept. of Political Science Concordia University, Montréal harold.chorney@concordia.ca haroldchorneyeconomist.com Paper presented to the annual meetings of the … Continue reading →

Posted in business cycles, deficits and debt, fiscal policy | Tagged , , , | 1 Comment

How long will inflation stay low ? Have we entered a new age of low inflation , slower growth and sluggish employment ?

Posted on January 20, 2014 by haroldchorneyeconomist

The question on many people’s minds in the financial and futures markets is all about judging the future inflation rate. Inflation has not been a problem for most of the past decade and certainly not a problem since the crash … Continue reading →

Posted in business cycles, Canada, European unemployment, fiscal policy, J.M.Keynes, Milton Friedman and NAIRU, monetary policy, U.S., Uncategorized, unemployment | Tagged , , , | 2 Comments

Demographic slowdown in U.S. may be one of the causes of the deep recession and slow recovery

Posted on January 2, 2014 by haroldchorneyeconomist

First of all a healthy and happy New Year to everyone. With any luck and some good policies this year should be more prosperous for more people than 2013.  We are beginning the sixth year since the crash and financial … Continue reading →

Posted in business cycles, Canada, fiscal policy, Keynesian multiplier, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment

U.S. government Shutdown Irrationality & higher Unemployment in Europe:A very bad combination

Posted on October 1, 2013 by haroldchorneyeconomist

The long predicted but nevertheless very foolish self inflicted irrational Tea party Inspired shutdown of all but essential U.S. government services has occurred as of midnight last night, Washington time. It is difficult to predict how long it will last … Continue reading →

Posted in austerity, business cycles, European financial stability fund, European unemployment, fiscal policy, France politics+economy, government shut down+debt ceiling U.S., Spain, U.K. economy, U.S., Uncategorized, unemployment | Tagged , , , | Leave a comment

The long hot summer recovery continues

Posted on August 26, 2013 by haroldchorneyeconomist

I have been away from my blog and web site for  an extended period, last posting at the close of June. I will be resuming a more frequent schedule beginning next week. A heck of a lot has transpired both … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, fiscal policy, full employment, monetary policy, U.K. economy, Uncategorized, unemployment, urban culture | Tagged , , | Leave a comment

Markets always overreact to changing expectations: this time was no different

Posted on June 27, 2013 by haroldchorneyeconomist

I have been away working on my research and publishing and nursing a very nasty summer cold these past few weeks . A lot has happened that needs to be noted. First let me pay tribute to the long and … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, European debt crisis, J.M.Keynes, quantitative easing, unemployment | Tagged , , , | Leave a comment

Stock market jitters focus on false fears about end of Quantitative Easing

Posted on May 24, 2013 by haroldchorneyeconomist

A lot of old shibboleths have bit the dust in recent years. Deficits were supposed to destroy the economy by crowding out investment and ushering in inflation. They have not done so. Inflation remains extremely subdued and if there is … Continue reading →

Posted in business cycles, quantitative easing, quantity theory of money, U.S., Uncategorized | Tagged , , | Leave a comment

The Owl of Minerva takes flight at dusk:The anti-Keynesian era is drawing to a close

Posted on May 2, 2013 by haroldchorneyeconomist

The Owl of Minerva takes flight at dusk: The anti-Keynesian era is drawing to a close By Harold R. Chorney, Professor of political economy, Concordia university, Montreal.( I originally submitted this to the New York Times as an op ed … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Italian debt crisis, J.M.Keynes, Keynesian multiplier, monetary policy, Uncategorized | Tagged , , | Leave a comment