Wednesday, April 9, 2014

Midweek Market Monetarist Links and Summaries - 4/9/14

I'm glad that when Lars Christensen was cleaning up his old computer, he came across this list:
A clearly written and telling example:

"Management" could mean lots of things but not necessarily helpful (Nick Rowe):
The present punchbowl isn't much of a party: 
The "weird" assumption: currency and deposits as complements, rather than substitutes

It's always good to remember that advocacy for a nominal target is not new (Marcus Nunes):
The Eurozone already has a high risk of deflation:
Inflation seems to be going extinct:
Still using the wrong tool:
And yet likely a size that few will "wear":
Marcus responds to a recent NYT article by Tyler Cowen: if there weren't enough re the economy, to worry about already!

Scott Sumner also highlights a recent post from Marcus Nunes, in  Let's Play 1960s-era Fed
Unfortunately, Obama thinks monetary policy is credit policy: Fed hawk who helped implement Obama's tight money policy announces resignation
Nominal wages are the correct measure of inflation for monetary policy purposes: The March jobs report
Scott clarifies some misconceptions in a Joe Gagnon post: Joe Gagnon on what the Fed got wrong
Why wasn't it good enough for Obamacare to eliminate voluntary uninsuredness?

Michael Darda makes his case (David Beckworth)

James Pethokoukis isn't thrilled with the "new normal" - The March Jobs Report: Is The Great Recession Finally Over?

Non-mortgage debt is insignificant compared to mortgage debt (Kevin Erdmann)

JP Koning takes a look at the Rowe/Glasner debate:

It's a war between professional traders (David Glasner):

Also of interest:

Josh Hendrickson reviews Piketty:

Long term unemployment was at 45% during the depths of the recession (Tim Harford)

"If people advocate intervention, it's to strengthen markets, not replace them." (Jonathan Finegold)
The Capitalist Mentality

Mark Thoma explains deflation:

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