Wednesday, December 18, 2013

Midweek Market Monetarist Links and Summaries - 12/18/13

An interesting email exchange between Miles Kimball and Scott Sumner, who grew up less than a mile from one another:

Scott Sumner provides a post response along with some more memories: Miles from home
Both David Beckworth and Paul Krugman agree with Scott that "helicopter drops" are not a cure-all for AD shortfalls
John Carney misrepresents Scott on QE: Pay attention to the theoretical world
Scott points out a few positives and negatives: Stanley Fischer to the Fed?
More on Fischer, and some thoughts on the Jewish ethnic group: Failure is an option
Scott receives some hopeful links: Is the Eurozone beginning to wake up to reality?
It's the ECB policy that is awesomely destructive: A note on "awesomely destructive" fiscal policies
Never mind foreign countries...what about the bizarre activities closer to home? We are the freak show
Reviewing the editor's proofs of his Depression manuscript, Scott remembers The "Lehman Moment" of 1931
Tight money causes... How to prevent an epidemic of Reckless Lending
Will growth remain low in the years ahead? It's not about inflation
Rationale for inflation has changed in recent decades: Yes, raise interest rates. But how?
And, Income is meaningless, example #388

Lars Christensen is encouraged by Stanley Fischer:
Keynesians agree with Market Monetarists when it comes to weak demand:
UK labor market improves:
Seriously, who would think this is a good graph?
Actually, someone likes this graph just fine...

This post continues "Turgot's land beating Samuelson's money" (Nick Rowe)
Average unemployment of the last few years isn't necessarily the natural rate:
Nick wants to put people back in the model:

Izabella Kaminska contributes to the comments section (David Glasner)
David provides a link for his recent paper:

Where might Steve Williamson's model have an element of truth? (Bill Woolsey)
Does Quantitative Easing Cause Deflation?
"Suppose a single bank in a competitive banking system wanted to expand its lending": Private Money and Quantitative Easing

"You can't judge a monetary policy by nominal interest rates; you can't, you can't, you can't." (Ryan Avent)

Does the deficit come down with growth? It depends (Britmouse):

How safe does government debt need to be? (Andy Harless)

An interesting take (James Pethokoukis): Maybe patriarchal labor unions are to blame for rising inequality

Mark Sadowski notes discussion by both Nick Rowe and Frances Coppola in this lengthy comments section:

Evan Soltas does an interview:

James Hamilton tells the recent story of the Federal Reserve short term interest rate:

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