MacroMania

David Andolfatto is the Vice President of Economic Research Federal Reserve Bank of St. Louis. He has a PhD in Economics from University of Western Ontario and his areas of interest are Dynamic General Equilibrium Theory, Macroeconomics, Labor Markets, Monetary Theory.

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Awards & Publications

“Optimal Disclosure Policy and Undue Diligence” with Aleksander Berentsen, David Andolfatto and Christopher J. Waller. Journal of Economic Theory, 149, pp. 128-152, January 2014. (https://research.stlouisfed.org/wp/more/2012-001) “Scarcity of Safe Assets, Inflation, and the Policy Trap,” with David

Latest Articles

The Chicago Booth Survey on MMT

I want to say a few things about Chicago Booth's recent survey questions posed to a set of economists; see here. The survey asked how strongly one believes in the following two statements:Question A: Countries that borrow in their own currency should...

Sustainable deficits

There's been much welcome discussion of late concerning the sustainability of government budget deficits and whether the size of the public debt is anything to worry about. I'm not going to answer this question for you here today. But what I would li...

Is Neo-Fisherism Nuts?

According to my friend and former colleague Steve Williamson, inflation is low in Japan because of the Bank of Japan's policy of keeping its policy rate low. Accordingly, if the BOJ wants to hit its 2% inflation target, it should raise its policy rat...

When is more competition bad?

Contrary to popular belief, standard economic theory does not provide a theoretical foundation for the notion that "competition is everywhere and always good." It turns out that legislation that promotes competition among producers may improve consum...

Racial Diversity in the Supply of U.S. Econ PhDs

This post is motivated by Eshe Nelson's column "The Dismal Cost of Economics' Lack of Racial Diversity." I was especially struck by this data -- out of the 539 economics doctorates awarded to U.S. citizens and permanent residents (by U.S. institution...