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Saturday, July 19, 2008
Simulations of inflation expectations and oil prices
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I have run some Monte Carlo simulations of hypothetical oil prices implied by long-term inflation expectations. Based on the Hotelling mode...
Too big to fail
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Besides the extraordinary rises in commodity prices and near-tripling of the U.S. federal government's default risk , another important...
3 comments:
Thursday, July 17, 2008
So much for the "risk-free investment"
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Last week the default risk on U.S. Treasury bonds doubled. This week it has increased still more. This risk is measured by credit default ...
4 comments:
Monday, July 14, 2008
Hampton Sides sheds light on Mancur Olson and Ronald Coase
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Hampton Sides' book Blood and Thunder is a detailed and colorful account of the Western frontier in the United States around the mid-19...
2 comments:
Tuesday, June 24, 2008
Commodity hysteria -- an overview
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Congress is going crazy over commodities, and especially over oil. They are convinced that we have a commodities bubble, so that all they ...
6 comments:
Monday, June 23, 2008
State vs. anarchy -- the false dichotomy
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The false dichotomy between "state" (or "goverment") and "anarchy" can be highlighted every time someone tries...
3 comments:
Friday, June 20, 2008
Green beards and master genes
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There is a sense in which gene expression can be hierarchical: some genes are "master genes" that control the expression of many ...
Monday, June 09, 2008
Commodities, currencies, and the St. Petersburg paradox
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Hal Finney describes the surprising results of the Hotelling model of nonrenewable commodities: prices become much higher than the costs to...
2 comments:
U.S. Supreme Court breathes new life into first sale rule
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The United States Court of Appeals for the Federal Circuit, which usually has the final say on most U.S. patent appeals, and thus the most i...
1 comment:
Wednesday, June 04, 2008
The war against retirees
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I am quite chagrined that a number of influential folks have almost reached the same conclusion as I, namely they've concluded that ...
7 comments:
Thursday, May 29, 2008
The Coase Theorem is false: contracts depend on tort law
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In the Rothbardian ideology of anarcho-capitalism, all law can supposedly be derived from contract, the entry into which is supposed to be v...
37 comments:
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