Wednesday, August 28, 2013

Midweek Market Monetarist Links and Summaries - 8/28/13

David Glasner is doing a series of posts which will help him prepare a paper for the Southern Economics Association, re the 100th anniversary of Ralph Hawtrey's "Good and Bad Trade". This is the first:http://uneasymoney.com/2013/08/21/why-hawtrey-and-cassel-trump-friedman-and-schwartz/

Lars Christensen also co-wrote a paper with several colleagues re who would be best suited for the position of Fed chair - Yellen or Summers: (looks like Obama has already made up his mind)
http://marketmonetarist.com/2013/08/22/the-bird-fight-yellen-vs-summers/

Nick Rowe asks, is money exogenous or endogenous?
http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/08/is-money-exogenous-or-endogenous.html

Bill Woolsey, in this post on the Pigou effect, also gives consideration to exogenous or endogenous money:
http://monetaryfreedom-billwoolsey.blogspot.com/2013/08/the-pigou-effect.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MonetaryFreedom+%28Monetary+Freedom%29

Britmouse explains how the Riksbank are deliberately missing their targets:
http://uneconomical.wordpress.com/2013/08/22/the-riksbanks-catch-22/
and posts the nominal GDP numbers for Q2:
http://uneconomical.wordpress.com/2013/08/23/uk-2013-q2-nominal-gdp/

Evan Soltas posts on a "natural experiment" in North Carolina, where unemployment benefits are being reduced from 80 weeks to 19 weeks:
http://esoltas.blogspot.com.au/2013/08/unemployment-among-tarheels.html

Marcus Nunes highlights the first "farewell" speech for Bernanke, by Binyamin Appelbaum:
http://thefaintofheart.wordpress.com/2013/08/23/the-first-farewell-speech-has-been-drafted/
Marcus also provides a link for the Robert Hall paper which got the Jackson Hole conference off to a not so good start:http://thefaintofheart.wordpress.com/2013/08/23/jackson-hole-conference-off-to-a-bad-start/
Sometimes The Economist is convinced I've read my "monthly quota" of articles already, so I'm always glad when Marcus catches a good Ryan Avent post which I might otherwise miss!
http://thefaintofheart.wordpress.com/2013/08/27/bob-hall-defended-the-absentees-colors-very-effectively/

How much does the Fed tapering actually affect other countries? Scott Sumner asks why it would be a concern in particular, for Indonesia:
http://www.themoneyillusion.com/?p=23135&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Themoneyillusion+%28TheMoneyIllusion%29

Surprisingly, I'm in agreement with John Cochrane for once, and so is Lars Christensen. However in my case I should clarify that people need better life choices than the current crop of banking options! Or...make banks irrelevant instead of heavy handed Fed regulation, which also would not work out as intended.http://marketmonetarist.com/2013/08/27/the-danger-of-an-all-powerful-central-banks-against-macroprudential-policies/
Lars also has an oped on prediction markets, linked in this post:
http://marketmonetarist.com/2013/08/28/prediction-markets-and-uk-monetary-policy/

Also, an essay from Deirdre McCloskey which I thought some of my readers would enjoy:
http://www.deirdremccloskey.com/editorials/boulding.php

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