Wednesday, October 2, 2013

Midweek Market Monetarist Links and Summaries - 10/2/13

Bennett McCallum, an early proponent of NGDP targeting, prefers a growth rate to a level rate. Here is a pdf link for his presentation to the shadow open market committee:
Marcus Nunes includes a quote from the presentation in this post:
Bill Woolsey has a well thought out response to McCallum's paper:
Scott Sumner links to Bill's post and notes that when central bankers are incompetent, growth rate targeting can really miss the mark:
Bill Woolsey on Bennett McCallum

Ryan Avent had two good articles earlier in the week, and Marcus Nunes links to both:

David Beckworth, on how little good the present inflation target actually provides:
David, along with other Market Monetarists noted that Justin Wolfers wanted to know what happened to the PCE deflator this past quarter:

Evan Soltas has been working on a project for monetary policy:
Scott Sumner links to Evan's post and adds some thoughts:

Scott Sumner asks, what if I were on the FOMC?
Scott also questions recent developments regarding unemployment:
Why no layoffs and Is unemployment overdetermined
Some responses, one from Kevin Erdmann (HT Ryan Long)
Marcus Nunes:
and also Bonnie Carr:

Nick Rowe provides more "food for thought" on the banking school:
The indeterminacy that concerns Nick is output:
Scott Sumner responds to Nick's "if banks bought houses" post:

Bill Woolsey agrees with Robert Hall's solution for IOR:

Lars Christensen tackles two "unknowables". Will the U.S. government shutdown be problematic? Is Denmark really freer than the U.S.?
Also, in recent years, some economists are trying to bring money into DSGE models:

Britmouse on Lars Svensson - the Riksbank's loss is the blogosphere's gain:

David Glasner:

Peter Ireland of E21 has a post on William Barnett's divisia approach to monetary policy:

Also, from Matthew O'Brien of the Atlantic, earlier in the week:
Lenin's Plot to Destroy Capitalism

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