American financial economist — Rose-Marie and Jack Anderson Senior Fellow at Hoover Institution — former University of Chicago Booth School professor — author of The Fiscal Theory of the Price Level — who blogs as The Grumpy Economist.
Creates the Fiscal Theory of the Price Level as an alternative to monetary theory — Cochrane's argument (that inflation is ultimately determined by fiscal policy and the government's commitment to repay its debt, not just by monetary policy) is the most significant heterodox macro framework in recent academic economics.
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