Scott Sumner asks for MOAR! Heh, love the title. He reminds us that we've been falling short of the policy goal since 2008, let alone still falling short of that. In a similar vein, Nick Rowe, after becoming annoyed with a Bank of Canada MP report, posts this.
I especially enjoyed this insightful post from Nick:
And here, Scott responds to Nick, with Those Elusive Transmission Mechanisms
Elements of this post from JP Koning made me think of Nick's post, and JP also cites an article on Gresham's Law which George Selgin wrote.
More from Scott Sumner - is it a simple test?
How to tell if you understand monetary economics
And then, there are lifestyle illusions: Liberalism and inequality
Will wealth distribution ever make sense? On becoming reactionary
I don't always link to the more politically oriented posts but everything about this one was spot on: Pants on Fire
Marcus Nunes takes a closer look at those "pesky bubbles":
Marcus also links to this Ambrose Evans-Pritchard article, which points out that Europe is replacing Japan as world epicenter of policy error: http://thefaintofheart.wordpress.com/2013/10/24/screw-your-courage-to-the-sticking-plate/
Who would have imagined the same mistakes as 1938? Marcus provides illustrations as to why "animal spirits" went wild: http://thefaintofheart.wordpress.com/2013/10/24/animal-spirits-react-to-monetary-policy/
Because inflation is no longer a workable measure, those who continue to use it, find themselves trapped. http://thefaintofheart.wordpress.com/2013/10/27/trapped/
Scott Sumner also gives us More reasons to ignore inflation and Statements that make no sense
Both Bill Woolsey and Marcus comment on a recent lecture by Christy Romer:
Bill Woolsey explains that while the interest rate could rise on government bonds, the problem isn't significant compared to what happens when the Fed increases interest rates by restricting growth in the quantity of money: Government Default and Financial Crisis
Café Hayek responds to an earlier David Henderson post re monopsony, the minimum wage and unskilled labor markets, and Bill Woolsey responds to Don Boudreaux in Monopsonistic Competition
This Nick Rowe post from earlier in the week (re house prices) includes lots of thoughtful commentary: http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/10/random-thoughts-on-house-prices.html
Why aren't mutual funds or pension plans considered depository institutions? http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/10/depository-vs-non-depository-financial-institutions.html
"Bubble" is just another word for...Ponzi schemes? And will it be robots, or retirement?
Interesting perspective from Yichuan Wang, (Quartz article) as to moving children and elderly into the cities:
Just as Marcus Nunes told David, I'm not sure this even qualifies as a post! David Glasner spent nearly a week putting it together, well worth the read: http://uneasymoney.com/2013/10/25/microfoundations-aka-macroeconomic-reductionism-redux/
James Pethokoukis provides video of the recent Alan Greenspan interview on The Kudlow Report, where Greenspan "forgot" the role of NGDP. Other quite useful links in this post as well.
Also of interest:
From the Economist - A Natural Long Term Rate
A good article from Maria Konnikova about online commenting. (She is the author of Mastermind: How to Think Like Sherlock Holmes) http://www.newyorker.com/online/blogs/elements/2013/10/the-psychology-of-online-comments.html