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John H. Cochrane

John H. Cochrane

9 commentaries

John H. Cochrane is a senior fellow of the Hoover Institution, an adjunct scholar at the CATO Institute, and the author of The Fiscal Theory of the Price Level (Princeton University Press 2023). He maintains the Grumpy Economist blog.

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  1. John H. Cochrane on fiscal theory, bank failures, central-bank independence, and more
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    John H. Cochrane on fiscal theory, bank failures, central-bank independence, and more

    Apr 4, 2023 John H. Cochrane predicts a period of stubborn inflation, explains why more regulation will not end financial crises, considers factors that may diminish faith in government-debt repayment, and more.

  2. The Liz Truss Tragedy
    cochrane7_ Jeff J MitchellGetty Images_truss Jeff J Mitchell/Getty Images

    The Liz Truss Tragedy

    Oct 25, 2022 John H. Cochrane & Jon Hartley thinks Britain’s short-lived prime minister had the right idea, but failed on execution.

  3. The End of an Economic Illusion
    cochrane6EVA HAMBACHAFP via Getty Images_inflation printing money EVA HAMBACH/AFP via Getty Images

    The End of an Economic Illusion

    Apr 15, 2022 John H. Cochrane shows how the return of inflation is forcing pundits and policymakers to abandon wishful thinking.

  4. Time for Supply
    GettyImages-1291931091 Getty Images

    Time for Supply

    Mar 3, 2022 John H. Cochrane & Jon Hartley explain the reforms needed to fix the US economy's long-ignored but single biggest problem.

  5. Why Isn't the Fed Doing its Job?
    cochrane4_Brooks Kraft Getty Images_fed reserve Brooks Kraft Getty Images

    Why Isn't the Fed Doing its Job?

    Jan 19, 2022 John H. Cochrane thinks the world’s most important central bank has lost its way and should get back to basics.

  1. gbrowne1_Thomas SamsonGettyImages_fossil_fuel_non_proliferation_treaty Thomas Samson/Getty Images
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    A Defining Moment for Energy Security and Economic Prosperity

    Gaston Browne points out that the energy transition is vital not only to protect the planet, but also to enhance resilience.
  2. norrlof10_Picture AllianceGettyImages_lng_terminal_baltic_sea Picture Alliance/Getty Images
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    How Much “Weaponization” Can the Global Economy Take?

    Carla Norrlöf

    While leveraging global economic choke points to advance one’s own interests is certainly preferable to deploying tanks or launching missiles, such leveraging of interdependence is not without costs. Eventually, the dependencies that it exploits will collapse, leaving everyone worse off.

     worries that major powers’ understandable reliance on economic coercion will go too far.
  3. op_detter1_utah778Getty Images_balancesheet utah778/Getty Images
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    Fixing Public Finances Without a Chainsaw

    Dag Detter

    Governments are the most important wealth managers in their respective jurisdictions, but they rarely behave like it. To boost revenue and ensure economic stability, policymakers must modernize their accounting practices and establish public wealth funds.

     urges cash-strapped countries to adopt a commercial approach to management of government-owned assets.
  4. delong268_Drew AngererGetty Images_trump Drew Angerer/Getty Images
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    Rescuing America’s Economy from Trump

    J. Bradford DeLong thinks the US president needs a regent, similar to the role Howard Baker played under Ronald Reagan.
  5. bildt133_Tobias SchwarzGettyImages_rutte_vance Tobias Schwarz/Getty Images
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    The Transatlantic World Will Never Be the Same

    Carl Bildt urges Europeans to prepare for the worst from Donald Trump’s America, which is behaving like an adversary.
  6. goldberg34_Mario TamaGetty Images_USshippingcontainers Mario Tama/Getty Images
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    Making Sense of the Tariff Chaos

    Pinelopi Koujianou Goldberg considers whether the zero-sum logic behind the new US policy will spread.
  7. frankel170_Anna MoneymakerGettyImages_trump_bessent Anna Moneymaker/Getty Images
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    Is Trump Engineering the Decline and Fall of the Dollar?

    Jeffrey Frankel exposes fundamental flaws in the US administration’s vision for weakening the greenback.
  8. simons2_Fadel SennaGettyImages_uae_foreign_aid Fadel Senna/Getty Images
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    Trump’s War on Foreign Aid and the Rise of Transactional Diplomacy

    Bright Simons highlights the global implications of the administration’s decision to shut down USAID.
  9. iyahen1_RANDY BROOKSAFP via Getty Images_barbadoshurricane Randy Brooks/AFP via Getty Images
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    Insuring Coastal and Ocean Resilience

    Ekhosuehi Iyahen explains how the insurance industry can mobilize private capital toward nature-based solutions.

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