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Michael J. Boskin

Michael J. Boskin

Writing for PS since 2009
80 commentaries

Michael J. Boskin is Professor of Economics at Stanford University and Senior Fellow at the Hoover Institution. He was Chairman of George H.W. Bush’s Council of Economic Advisers from 1989 to 1993, and headed the so-called Boskin Commission, a congressional advisory body that highlighted errors in official US inflation estimates.

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  1. stark8_ Arne Dedertpicture alliance via Getty Images_ecb Arne Dedertpicture alliance via Getty Images

    The ECB's Existential Dilemma

    Jürgen Stark, et al.

    For years, the European Central Bank has been succumbing to political interests and pursuing objectives beyond the scope of its primary mandate: maintaining price stability. But now that inflationary pressures are building, the ECB’s credibility is on the line.

     warns that the European Central Bank’s politicization will catch up to it in the new inflationary environment.
    0
  8. furman5_Getty Images Yuichiro Chino_forecasting Getty Images Yuichiro Chino

    Why Did Almost Nobody See Inflation Coming?

    Jason Furman

    Forecasting inflation is a staple of macroeconomic modeling, yet virtually all economists’ predictions for the United States in 2021 were way off the mark. This dismal performance reflected a collective failure to take economic models seriously enough, as well as other analytical shortcomings.

     ascribes near-universal forecasting errors in 2021 to not taking economic models seriously enough.
    35

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