In response to this Miles Kimball post, Bill Woolsey reminds us that no one needs Wallace Neutrality to get that temporary changes in the quantity of money have little effect on anything: http://monetaryfreedom-billwoolsey.blogspot.com/2013/10/wallace-neutrality.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MonetaryFreedom+%28Monetary+Freedom%29
Scott Sumner, in this post adds that one should not think of QE as a lever to move NGDP.
Bill highlights a featured article by Jeffrey Hummel (from the library at Econlog), "The Myth of Federal Reserve Control Over Interest Rates" and provides further discussion:
Hummel on Money and Interest
Is it a default if the government doesn't pay all of its bills?
Default on the National Debt
Scott Sumner provides some further clarification on an Yglesias post re the Federal Reserve:
Matt Yglesias explains the Fed
Sometimes, the ways people speak of poverty make little sense. In this helpful post, Scott notes, "After tax and transfer data is better than income, and consumption data is still better".
The amazing decline in American poverty
Lars Christensen highlights a new paper on capital flows and reversals in Europe from 1919 to 1932:
http://marketmonetarist.com/2013/10/10/the-mother-of-all-suddens-stops-lessons-from-the-1930s/
Also, Laos has a balance of payments problem:
http://marketmonetarist.com/2013/10/09/laos-is-facing-an-old-fashioned-balance-of-payment-crisis/
Marcus Nunes provides highlights from Lars Svensson's latest Vox column:
http://thefaintofheart.wordpress.com/2013/10/11/lars-svenssons-analysis-bolsters-the-case-for-ngdp-targeting/
Maybe - just maybe - Janet Yellen will listen to Christy Romer:
http://thefaintofheart.wordpress.com/2013/10/10/janet-yellen-is-branded/
Some addictions are really hard to lose:
http://thefaintofheart.wordpress.com/2013/10/10/downgrading-monetary-policy-the-interest-rate-addiction/
Marcus remembers some special moments, with post 1500:
http://thefaintofheart.wordpress.com/2013/10/13/1500/
Lots of posts from David Glasner this week: http://uneasymoney.com/2013/10/10/a-new-paper-shows-just-how-right-hawtrey-and-cassel-were/
http://uneasymoney.com/2013/10/13/richard-lipsey-and-the-phillips-curve/
http://uneasymoney.com/2013/10/15/hawtreys-good-and-bad-trade-part-vi-monetary-equilibrium-under-the-gold-standard/
Britmouse highlights the Hansard archives from the 30s and I agree, "facilitating the exchange of goods and services" is a great way to talk about monetary policy:
http://uneconomical.wordpress.com/2013/10/14/paper-money-men-and-bullion-men/
In "Burying The Economy to Save It", Ryan Avent wonders whether Matthew Klein might be "confused over the sources of the confusion".
Evan Soltas continues working on his monetary policy project:
http://esoltas.blogspot.com/2013/10/towards-better-fed.html
JP Koning "toys" with the monetary transmission mechanism:
http://jpkoning.blogspot.com/2013/10/toying-with-monetary-transmission.html
What was once of interest mostly to nerdy economists is now a major cause of political tension, according to Luigi Zingales:
http://www.project-syndicate.org/commentary/on-how-political-independence-has-harmed-central-banks-by-luigi-zingales
Some of my readers may enjoy these posts as well -
Uwe Reinhardt provides some great Milton Friedman quotes, regarding U.S licensing boards in "The Dubious Case for Professional Licensing": http://economix.blogs.nytimes.com/2013/10/11/the-dubious-case-for-professional-licensing/?_r=0
And from The Week: http://theweek.com/article/index/250794/the-7-worst-things-to-say-to-an-unemployed-friend
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