Wednesday, May 20, 2015

Midweek Market Monetarist Links and Summaries - 5/20/15

David Glasner examines a working paper regarding inflation expectations in the Great Depression:

Lamfalussy knew that fiscal union would be problematic, early on...(Marcus Nunes)
Where exactly is wage growth going to come from?
So far, not so good:
Still a contained depression:
There's a reason this long business cycle doesn't get a lot of respect:
What might the rationale be this week?
A "self correcting" economy?
Not a good sign!

The markets still need more confidence in the ECB (Lars Christensen)
Lars provides highlights:
As he prepares for upcoming speeches...

Beijing is changing very quickly (Scott Sumner) Report from China
Recent news on the new Greek government The view from Vilnius
Scott's recent interview with Timothy Lee:
Some quick work took place on this paper which also has an MM feel: Jonathan Pedde on the UK election and fiscal policy
"Central bankers are grossly underpaid." The most underpaid profession on earth
How much truth lies in the Neo-Fisherian claim? Neo-Fisherism, missing markets, and the identification problem

Scott at Econlog:
What about policy changes to reduce inequality? Low hanging fruit and the inequality question
It takes time for output to adjust during reallocation: Reallocation and growth
Data doesn't tell us whether income is sufficient for consumption needs Shocking new data on wealth inequality
Many arguments against consumption taxes are arguments in favor of progressive taxes: A consumption tax is a wealth tax

What counts as capital investment for the self employed? (Britmouse)
Britmouse contrasts two periods:

The human capital problem: no "guarantees" in this regard (Kevin Erdmann)

Is the idea of zero unemployment just a crazy dream? (Benjamin Cole)

Also of interest:

Jeremie Cohen-Setton provides some summaries:

Tim Worstall offers some good reasons re why not: No, let's not try to abolish cash

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