Wednesday, December 11, 2013

Midweek Market Monetarist Links and Summaries - 12/11/13

Lars Christensen has done a fair amount of blogging this week. Might Market Monetarists be hawkish or dovish in three to five years?
Irving Fisher and Clark Warburton had different views on prohibition
Lars looks at some of the arguments for a Basic Income Guarantee
A good post on divisia, with plenty of links:
Lars explains why there is no bubble in the U.S. stock market

In spite of slow growth, it's good not to be in recession (David Beckworth)

Australia has kept NGDP growth close to trend (Marcus Nunes)
Something's not quite right about the AS/AD model...
No surprise that Richard Koo is worried about the Bank of Japan
Two oil shocks, two different reactions:
Real growth? We're not there yet:
Draghi also has a ways to go:
Growth levels matter:
A visual take or recent business cycles
A conservative uncle frequently said WWII got us out of the Great Depression. Turns out he was in agreement with Paul Krugman:
Marcus compares two Mark Carney speeches

David Glasner and Josh Hendrickson contribute to the Steve Williamson discussion:

(Scott Sumner) In a "helicopter drop" the price of money falls - Excess money: Lower rental cost or lower price
Of course Scott has considered many...No, You are not titled to an opinion
Tight money at the ECB is the problem: Bloomberg's Editors miss the point
Where are we in the business cycle? Thoughts on the recent economic data
FDIC is moral hazard on steroids: Big Banks Bad, Small Banks Worse
Macro issues as "bigger" than us: Izabella Kaminska and the problem of communication in macro
It's not hard to get life in prison these days: More casualties in the war on drug-using Americans
Someday, a bit of healing. But not yet. Advice to young bloggers
One more time - good post: Further thoughts on miscommunication
Making sense of a recent Krugman post: Friedman on Keynes (and Krugman too?)

Nick Rowe debates how micro and macro are introduced:
How do we think of equilibrium:
Do people expect QE to be temporary or permanent:
What kind of recovery is this, anyway?

Who complains about the "wrong" growth? A sado-Keynesian (Britmouse)
Supply side rationale? Hmm:
Output is still connected to productivity:
More divisia, please:

Evan Soltas looks at The argument for the Volcker rule

James Pethokoukis: the slow recovery is not because of obamanomics

Also of interest:

Justin Fox: Who's hiring and who isn't in five charts

Don Boudreaux offers Three Non-Economic Ways of Thinking

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