Wednesday, December 4, 2013

Midweek Market Monetarist Links and Summaries - 12/4/13

James Pethokoukis provides an apt reply for Pope Francis re the free market, via Deirdre McCloskey
Mankiw's response to the Pope:
Ryan Avent takes Mankiw to task:
Scott Sumner reflects on the Pope's statement: The Pope on "evil incarnate"
Pethokoukis - looks like there may have been a translation problem:

Britmouse has some fun with headlines:
Whoops...too late!
What do progressives really want?

David Glasner responds to George Selgin's deja vu post:
Bonnie Carr responds to Glasner's post: The Fed was focused on employment in the 60s:
Bonnie considers problems with price targeting which were also noted by Milton Friedman

(Evan Soltas) Labor markets are improving for the most employable much more quickly, than for marginalized workers:

Scott Sumner does not see the rationale in any connection between scientific prestige and bubble theories: Bubbles, cognitive illusions and the peso problem
New "empty spots" in China don't stay empty very long: No one goes there anymore, it's too crowded
The title says it best: A crude attempt to translate Rowe/Krugman/Delong into monetarism
Scott takes on Rowe's response to Andolfatto: Nick Rowe explains how to avoid reasoning from a price change
Continuing the Williamson saga in Two types of "wheelbarrows  full of currency"
This is what happens when economists abandon the AS/AD model - I'm puzzled as to why economists are puzzled
Aahh, finally! Mark Sadowski finds the smoking gun Also, the post from Marcus

Marcus Nunes looks at some of the problems with price level targeting"
Central banks have fallen into an expectations trap"
Marcus highlights a Mike Konczal post:
"Swap" images...ouch!
Marcus links to Ambrose Evans-Pritchard article re Netherlands downgrade:
Benjamin Cole in a guest post, wonders whether it is possible for the Federal Reserve to even be a part of the real world
In graphs - what really strengthens an economy?

The Bank of Canada, and a car's speed (and umbrella update - apologies for some out of order links):
Nick Rowe is trying to make sense of  Steve Williamson post re "lowered inflation" QE:
Nick responds to a recent post by David Andolfatto:
Noah Smith covers the Steve Williamson debate with appropriate links, here:
David Beckworth also takes a look with the larger debate, with links:
Karl Smith chimes in:
Continuing here with Nicks post on 12/4:
Yichuan Wang's reply to Williamson:

Lars Christensen has an op-ed in the Danish Business daily Borsen:
Why did central bankers think it was a good idea to tell people that controlling the monetary base is unconventional?
Lars has some fun with the "reactionary" graphs from Marcus:
East Africa currency union - would this be problematic?
Encouraging news from the Bank of Japan
Lars recommends the book Fragile by Design

James Caton highlights Hawtrey's narrative of the classical gold standard:

Also of interest:

Yet another (historical) reason why rural economies should not be forgotten or otherwise ignored:
In a "Save the World" post, Lars Christensen's "Beating the Iron Law of Public Choice" begins his list:

Some good news: crackdown on patent trolls:

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