The Grumpy Economist

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November 2025

Trump and monetary policy: Full Oped
This is a WSJ oped that I can now publish in its entirety.
 • John H. Cochrane
Brazilian Inflation and Disinflation
Last week I read a nice capsule history of Brazilian inflation, by Pedro Carvalho.
 • John H. Cochrane
Price Control Apologia
My colleague and friend Neale Mahoney writes in favor of price and rent controls in the Sunday New York Times, with Bharat Ramamurti.
 • John H. Cochrane
Causation Does not Imply Variation
Tyler Muir suggested this lovely catchphrase, which should stand next to “Correlation does not imply causation” in our menagerie of econometric sayings.
 • John H. Cochrane
NBER Asset Pricing Lessons
I had the great pleasure of attending the morning session of the NBER Asset Pricing Program at Stanford last Friday.
 • John H. Cochrane

October 2025

Central bank independence talk.
This is the 10 minute version of my longer post on central bank independence, for the Peterson Institute Conference on Central Bank Independence Oct 31
 • John H. Cochrane
Central Bank Independence
This is a draft essay behind my presentation at the Peterson Institute conference “Central Bank Independence in Practice” Oct 31 2025.
 • John H. Cochrane
A tale of regulation
Holman Jenkins writes in Saturday’s Wall Street Journal
 • John H. Cochrane
A note on tariffs from the real world
I had an interesting correspondence with the CEO of a fairly large retailer, in response to the latest Goodfellows.
 • John H. Cochrane
Trump's monetary policy desires aren't crazy
This is a WSJ OpEd that I will publish in full in 30 days.
 • John H. Cochrane
Knowledge, Decisions, and Incentives
(This is an essay about Tom Sowell’s Knowledge and Decisions. I prepared it for a panel discussion at the Hoover Tom Sowell celebration, which will…
 • John H. Cochrane
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