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Matthew C. Klein @M_C_Klein Chicagoan in exile

"Why are you discussing this idiocy? Don't you have better things to do?" -- Martin Wolf | Economics Commentator @barronsonline

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Joined Twitter 11/20/12

The CFR's fellowship in International Economics really is a great fellowship for anyone wanting to get a sense of h…
Retweeted by Matthew C. Klein[New post] Why claims that the 2008 bailout was a success should make you angry
Retweeted by Matthew C. Klein
@RajaKorman @teasri @poiThePoi @modestproposal1 @georgemagnus1 @TheStalwart in Germany I think you can legitimately… @RajaKorman @teasri @poiThePoi @modestproposal1 @georgemagnus1 @TheStalwart although I agree that the ability of Ge… @RajaKorman @teasri @poiThePoi @modestproposal1 @georgemagnus1 @TheStalwart I would have more sympathy with that vi… @teasri @MayankSeksaria @modestproposal1 @poiThePoi @georgemagnus1 @TheStalwart I would argue that Germany very muc… @modestproposal1 @teasri @georgemagnus1 @TheStalwart both financial and real -- suppressing fx, for example, also suppresses consumption @georgemagnus1 @TheStalwart yes, exactly this @HBmacro @TheStalwart fair, and yes I agree long-term real rates being ultra low suggests glut more important than… @TheStalwart nominal interest rates in Europe are roughly zero, how is this nonsense? @odtorson @dsquareddigest @HyunSongShin don't disagree with this narrative but the origination of those assets (and… @odtorson @dsquareddigest @HyunSongShin if you blame a debt crisis exclusively on borrowers rather than dumb lenders then sure @dsquareddigest @HyunSongShin sure, but again, that supports Shin's point that it's wrong to think of the crisis as… @dsquareddigest @HyunSongShin aren't you the one who has said it's a mistake to think the sparkassen can exist inde… @dsquareddigest @HyunSongShin also if your point is that banks in Europe and America behaved the same way that woul… @dsquareddigest @HyunSongShin how can it be unrepresentative when it's the full set?This is the final paragraph in the section titled: "Musk's False and Defamatory Accusations"
Retweeted by Matthew C. Klein"Sending hundreds of thousands of wrongly diagnosed people to the doctor scares me" is a great chart from @HyunSongShin showing that European banks were just as involved in the global financial…"She is so adamant about getting in her training that when she accidentally packed two left sneakers on a business… @interfluidity no, that's totally wrong, jg people say the guaranteed wage is the nominal anchor for the price level
@soncharm also it's a pretty prominent theme in narratives about the euro crisis @soncharm Haldane, Viral Acharya, Admati, basically everyone who thinks leverage ratios are good
@RajaKorman I fully support this @soncharm pretty sure rwa rules are acknowledged as a problem?Interesting thread here cc @RajaKormanThis, from @ddayen, is really good and worth reading @ddayen I am surprised he didn't mention Mian and Sufi in support of his viewThis 2007 essay from Wolfgang Streeck arguing that government debt limits democratic choce is a fascinating window… of us working with proprietary data and wrestling with data-quality and governance challenges, take heart: T…
Retweeted by Matthew C. Klein @conorsen @TheStalwart it also depends on what you think the crisis actually was -- an explanation for the runs in… did the donut go to the dentist? To get a filling. There were 2,011 baked goods stores in Canada in 2017.…
Retweeted by Matthew C. KleinFascinating piece by @TomHale_ on narrow banking the Euro Won’t Replace the Dollar <-- some thoughts on Juncker's last State of the Un…
@GeneralTheorist one minor thought is that maybe instead of exports you use all CA receipts (would improve metric f… @GeneralTheorist The whole thing is worth reading and suggests Argentina is in serious trouble"Were Germany’s fiscal policy to adjust in full to private sector saving, then debt to GDP could reasonably—and qui…
@boes_ just trying to figure how that passage relates to inflation targeting and it seemed to rely on a connection… @boes_ ftpl? @pearkes Australians feeling left out
@esoltas @aarmlovi thanks! it would definitely require additional investment. the problem is that it's tough to jud… @bpritcha thanks!I should note this list only covers books explicitly written in reaction to 2007-9. Other great books on crises wil… 7 Best Books About the Financial Crisis <-- something else I wrote for this week's issueyou know how CEOs always complain about the cost of "regulatory uncertainty"? turns out it's more than an excuse f…
Retweeted by Matthew C. Klein @alexandrascaggs "whinge" @dude313123123 @dagdetter yes @conorsen @boes_ Atlanta Fed, for one @RajaKorman the dad jokes are strong with this one @dagdetter "It is difficult to imagine a strategic reason for the U.S. Army and U.S. Navy to have specialized schoo… @ozmcmalik @dagdetter dang, thanks for catchingAn important sticking point in EU/US trade relations I learned about over the holiday weekend @JimPethokoukis just need to add Barron's @teasri @RajaKorman @DuncanWeldon @tomashirstecon a bit like Russia in the 1990s?The World’s Forgotten Asset Class <-- the public sector's holdings of real estate and inf… @HBmacro @RajaKorman @teasri @DuncanWeldon @tomashirstecon Not sure how much of it was that versus need to import c… @RajaKorman @teasri @DuncanWeldon @tomashirstecon As I said earlier, I think the history of Korea's post-independen… @RajaKorman @teasri @DuncanWeldon @tomashirstecon some have argued that WWII exposed Soviet heavy industry "to the… @RajaKorman @teasri @DuncanWeldon @tomashirstecon yes but his view of combining catchup growth with trade surpluses… @RajaKorman @teasri @DuncanWeldon @tomashirstecon not my fault you explained his rationale @RajaKorman @teasri @DuncanWeldon @tomashirstecon that was Stalin's view @RajaKorman @teasri @DuncanWeldon @tomashirstecon I've said this before but there is a big difference between expor… @teasri @DuncanWeldon @tomashirstecon @RajaKorman also the US in the 19th centuryWell this sounds interesting @DuncanWeldon @tomashirstecon @RajaKorman minor quibble, but you could theoretically have industrial self-sufficien…
@JReade_WGC @jmackin2 right, it's more about recapturing some of the benefits of the old model while keeping some o…"We need to make the right decision based on our analysis of where the economy is ... if that were to require us to…
Retweeted by Matthew C. Klein @ClausVistesen @MESandbu I also think the headline unemployment number in Germany is misleading given the shift to part-time work but yes @ClausVistesen @MESandbu I agree focusing on lagging indicators of real activity is not necessarily good advice for central bankers @boes_ what does he think about The Narrow Bank and the NY Fed's treatment of it thus far?"'I don’t advise you to do long-term rental apartments'...buying flats would require bank loans with an interest ra…"taking our foot off the accelerator just as the most vulnerable start to benefit from growth is both economically…"it is sad to see the Fed handed such an obvious boon to financial stability and efficiency, and to slow walk it to…
@IvanTheK @TheStalwart zeno @ernietedeschi and the ACM term premium @ernietedeschi they should go full NY Fed and make an "underlying" wage growth indicator that includes credit spreads and stock prices @ernietedeschi sounds like a lot of this is just ECI, no?How to Make Bankers Try Harder to Avoid Going Bust <-- my column on the most interesting…"The unpredictability and unevenness of how—and when and why—Beijing decides to act leads people and institutions t…“I frequently hear graduate students and younger scholars—people with academic jobs but pre-tenure—being advised no…
(To be clear, the quote is recent, the speaker was the IMF representative in Athens back in 2010-11)Remarkable statement from the IMF's man in Athens during first program: "Debt forgiveness can lower the incentives…"Chinese displeasure with overseas aid has boiled over in the past, most notably in 2011, when Beijing donated 23 s… case you missed it over the holiday weekend, I wrote about the interplay between financial stability, bank compe… essay from Martin Wolf on how so little has changed since 2008 compared to the 1970s (or the 1930s) @MattZeitlin yes I was just making it fit the latest meme
Wish I'd thought of this one earlier, but the US banking industry already has codeterminationThe leadership of the ECB matters for Europe. I look back at the ECB’s first twenty years @prospect_clark
Retweeted by Matthew C. KleinFascinating column by @YuanfenYang on the decentralized and sometimes inconsisten nature of censorship in China"those fleeing China have found there is a dwindling number of destinations out of Beijing’s reach"…
"To exaggerate a bit, the world may soon only have one borrower" <-- important read from… @niralshah @rortybomb That is a good question. The main issue I would have with it is that it might be a bad use of…
@grodaeu @teasri I would think that's textbook new KeynesianFor context, the number of Germans with full-time jobs is lower than it was in the mid-1990s."Income inequality among Swedes has since the mid-1980s been growing at a faster rate than in any other OECD countr… Chu, the former Blackstone superstar, accused of orchestrating fraud in Constellation Healthcare implosion by…
Retweeted by Matthew C. Klein"Coherent organisation encourages employers to recognise how what may seem like a burden on an individual company b… and epic views at #Wyoming’s Carter Mountain
Retweeted by Matthew C. KleinSecond post in a series on the “Effects, Balance Sheets and new Linkages” ~$3 tn of foreign private inflows into U.…
Retweeted by Matthew C. KleinFlashback to when German political leaders criticized the ECB for keeping monetary policy too tight ht @AshokaMody