Casey Joe Pender
@casey_joe
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PPE Postdoc at Mount Allison University || Hobby Woodworker || Curling Enthusiast
Sackville, New Brunswick
Joined November 2020
(1/6) New Working Paper: How do communities exploit specialization and the division of labour—and thus become wealthy—without using a medium of exchange or formal credit? They create and maintain gift-giving networks!
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Very nice cross-country update on the "2 faces" of deflation. Under the gold standard, there was little avg relationship between deflation & lower real output, interest rates, or financial intermediation. Bc good (supply) deflation & bad (demand) deflation were about as common.
New episode! Bryan Cutsinger on the What the History of Growth Driven Deflation Can Teach us about a Potential AI Boom @BryanPCutsinger and @DavidBeckworth respond to Ben Bernanke’s 2002 speech titled, Deflation: Making Sure IT Doesn’t Happen Here.
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This is demonstrably false for those interested in examining their views. @casey_joe has a great paper showing pre-state indigenous communities used a potlatch as a bank and consumption ceremonies as money/ IOU’s. The only thing the state did was destroy it.
No, David Graeber wasn’t an expert in banking. But he was absolutely correct on what money is and his it originated. Austrians are 100% wrong in that score.
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Very cool episode where my co-author @BryanPCutsinger discusses a recent working paper of ours on deflation, and deflation more generally. Furthermore, @BryanPCutsinger's mustache is on point!
New episode! Bryan Cutsinger on the What the History of Growth Driven Deflation Can Teach us about a Potential AI Boom @BryanPCutsinger and @DavidBeckworth respond to Ben Bernanke’s 2002 speech titled, Deflation: Making Sure IT Doesn’t Happen Here.
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No team, maybe any sport, does these moments better than Montreal.
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Ken Dryden has died. A Hockey Hall of Famer with the Montreal Canadiens, he won six Stanley Cups, the Conn Smythe, Calder and five Vezinas. A best-selling author, he also served in Parliament from 2004 to 2011.
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Who knew? "Economists Can Solve the Fed's Tariff Problem" @PIrelandEcon @cwcalomiris
realclearmarkets.com
Higher tariffs are often thought to present a problem to monetary policymakers at the Federal Reserve (Fed). Tariff shocks raise prices and reduce output and employment, which seems to push in o
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Tagging some who might find this interesting: @VincentGeloso @GeorgeSelgin @Cory_Langlais @DavidBeckworth @LouisROUANET @Pat_Horan92 @JiriNohejl @S_Surprenant
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Demand-driven deflation, on the other hand, does reduce nominal rates and cause financial disintermediation. https://t.co/SFWMq6HFZf
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Q: Is Deflation Bad? A: It depends. In our new working paper, @BryanPCutsinger and I use data from 12 countries between 1880-1900 (a rare period when deflation was common) to suggest that supply-driven deflation doesn't reduce nominal rates or cause financial disintermediation.
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New working paper (with @VincentGeloso): Canada’s “Wheat” Boom (1896–1913) was actually more of an investment boom, largely driven by the free flow of foreign capital and labour. Lessons for today: lower barriers to capital, competition, and skilled migration. SSRN Link Below
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Obviously I'm biased, but this is a very cool piece!
Casey Pender (@casey_joe ) just sent in a chapter on Canadian economic policy with economic history lessons. We point out that removing barriers to foreign capital investment in Canada would have the dual effect of boosting TFP and boosting the positive effects of immigration.
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This is absolutely the right take on the Cowichan decision that is actually grounded in an economic, legal, and historical understanding of the case, Aboriginal right and title, and property rights more broadly.
My latest, on the Cowichan Tribes decision: This is not "the end of property rights." It is, arguably, a new beginning. https://t.co/PXXW2RVOoT
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The Robustness Properties of Nominal GDP Targeting https://t.co/XagLRXXBav This short paper enumerates NGDP targeting's advantages and highlights what the recent behavior of NGDP tells us about the appropriate path for monetary policy going forward.
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🧵Now available: Typhoid Contamination and Self-Regulation of London's Shellfish Industry (with Nicky Tynan).
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Reigning NBA Finals MVP Shai Gilgeous-Alexander 🇨🇦 Reigning Conn Smythe Trophy Winner Sam Bennett 🇨🇦 Reigning World Series MVP Freddie Freeman 🇨🇦
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(5/6) Together, we aim to provide a unique economic interpretation of Indigenous institutions, caution against paternalism, and advocate for Indigenous self-determination. Still a working paper, so feedback and comments are very welcome!
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(4/6) I’m so excited to share this paper finally—it’s been years in the making! Along the way, I gained a great coauthor, Till Gross.
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