Wednesday, January 7, 2015

Midweek Market Monetarist Links and Summaries - 1/7/15

David Beckworth has a prediction for 2015: Secular stagnation will fade from the national discussion:
The monetary disequilibrium view of the zero lower bound suggests that a negative nominal interest rage can restore monetary equilibrium:

In the summer of 1982, Volcker gave up on money growth targets. However, Krugman was trying to make the explanation a bit too simple (David Glasner)

"I agree with Cochrane that eliminating cash is a really bad idea, for standard libertarian reasons." (Scott Sumner) Cash and the zero lower bound
Why such low 5 year yields in 2020? Yield curve bleg (plus LA real estate)

Scott at Econlog
Thanks to the zinc industry...A penny for our thoughtless society
Sometimes graphs are used for political reasons and don't carry the full information they need: Be skeptical, be very skeptical

Such a simple post and explanation, for Tony Yates to feel the need to respond as he did! (Marcus Nunes)
...And apparently NGDP is "silly"
When Simon Wren-Lewis comes to the defense of NGDP:

(Bill Woolsey) We can all agree with Tony Yates that NGDPLT is not optimal compared to an omniscient central bank. Heh, good luck with that. Tony Yates Slams Nominal GDP level targeting

Might German inflation actually be negative for the next five years? (Lars Christensen)
What could be learned from these pay differences?

What point investment in a deflationary environment? (Benjamin Cole)
Let's not go into a cashless society:

Behind those foreclosure stories were people who deserved better (Bonnie Carr)
I remember too, when Brad Delong's viewpoints were much closer to those of Paul Krugman:

Justin Irving hopes to have the site back up and running after some tech changes:

JP Koning responds to the recent Cochrane post:

Is the ZLB causing distortions in the yield curve? (Kevin Erdmann)

Also of interest:

Arnold Kling reviews the complexity economics of Colander and Keypers in a thoughtful essay:

Frances Woolley had a good post on "stuff" this week. Here's another from Tim Harford:

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