Wednesday, November 12, 2014

Midweek Market Monetarist Links and Summaries - 11/12/14

Divisia M3 for the US and EZ in charts (Marcus Nunes) http://thefaintofheart.wordpress.com/2014/11/06/money-money-money/
No significant wage pressure since 2009: http://thefaintofheart.wordpress.com/2014/11/07/looking-for-excuses-to-tighten/
Money supply needs to reflect what is actually occurring: http://thefaintofheart.wordpress.com/2014/11/08/just-as-mental-depressions-economic-depressions-require-treatment-and-better-can-be-avoided/
Janet, the Fed bailed the water out of the ship this time, but neglected to repair the hull... http://thefaintofheart.wordpress.com/2014/11/08/oh-janet-that-was-a-pretty-awful-and-self-serving-speech/
A meaningful debate? http://thefaintofheart.wordpress.com/2014/11/09/price-shocks-and-central-bank-mistakes/
The English language could use a colorful word like this! http://thefaintofheart.wordpress.com/2014/11/09/the-incredible-army-of-brancaleone/
Why did Arizona and Ireland diverge after 2010? http://thefaintofheart.wordpress.com/2014/11/11/everybodys-talking-except-about-money/

Deciphering a paper with the Neo-Fisherite result (Nick Rowe) http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/11/neo-fisherites-again-schmitt-grohe-and-uribe.html
"Ask what happens to inflation and nominal interest rates if the central bank permanently increases the money growth rate" http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/11/black-holes-and-neo-fisherites-are-a-monetary-phenomenon.html
"Neo-Fisherite fun. Plus concrete steps fun."  http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/11/the-collective-speed-limit-game.html

Crowding out aggregate demand really isn't the point (Scott Sumner) : Did the monetary environment change in 2011?
Perhaps there's a reason these students are so good...The Bentley Fed Challenge team wins the Northeast Regional
Determination to complete the "prescription": Haruhiko Kuroda = Franklin Delano Roosevelt
Interest rates are also a price - the price of credit: In economics, price changes don't have any effect, they are effects

Scott Sumner at Econlog:

Too many "repeats" in this story: How Europe did a "1937"
Is the monetary policy expansionary, or contractionary? Low interest rates do not cause low inflation, or high inflation
"QE is marginally better than not QE" Is George Selgin defending Keynes on liquidity traps?

One wonders what is actually behind this (David Glasner) http://uneasymoney.com/2014/11/06/is-insanity-breaking-out-in-switzerland/

The question on a lot of minds (Benjamin Cole) http://thefaintofheart.wordpress.com/2014/11/06/gop-wins-bad-monetary-policy-will-get-worse/
Tim Duy "proves a point" for Benjamin: http://thefaintofheart.wordpress.com/2014/11/08/upstaged-but-happily-so-by-tim-duy-the-u-s-economy-is-not-inflation-prone/

A day for celebration (Lars Christensen): http://marketmonetarist.com/2014/11/09/the-fall-of-the-berlin-wall-and-the-end-of-global-extreme-poverty/
Lars provides quotes from the recent Zsolt Darvas paper: http://marketmonetarist.com/2014/11/08/the-massively-negative-euro-zone-divisia-money-gap/
Fortunately, Russia won't be bound by the price of oil: http://marketmonetarist.com/2014/11/10/turning-the-russian-petro-monetary-transmission-mechanism-upside-down/

Also of interest:

Cass Sunstein provides some thought provoking advice for the Republicans
http://www.bloombergview.com/articles/2014-11-03/hayek-s-message-for-victorious-republicans

And...Republicans tend to shoot themselves in the foot (regulating each other) as long as they can. http://www.nytimes.com/2014/11/09/upshot/republicans-are-only-sometimes-the-party-of-uber.html?rref=upshot&smid=tw-upshotnyt&abt=0002&abg=0

Tim Harford looks at inequality:
http://timharford.com/2014/11/a-passport-to-privilege/

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