Midweek Market Monetarist Links and Summaries - 12/ 25/13

(David Beckworth) Meanwhile, the Eurozone staggers on defiantly without monetary crutches:  http://macromarketmusings.blogspot.com/2013/12/the-qe-block-versus-emu-block.html
Broad money growth in Japan is recovering: http://macromarketmusings.blogspot.com/2013/12/how-is-abenomics-doing.html

How many women in the U.S. stay out of the workforce because of the marriage penalty? (James Pethokoukis) http://www.aei-ideas.org/2013/12/why-slowing-us-labor-force-growth-is-bad-for-us-economic-growth/

Of Milton Friedman and the k-percent rule (Josh Hendrickson): http://everydayecon.wordpress.com/2013/12/19/yellen-optimal-control-and-dynamic-inconsistency/
David Glasner responds: http://uneasymoney.com/2013/12/20/milton-friedmans-dumb-rule/

Interest rates still tell us very little about the stance of monetary policy (Marcus Nunes): http://thefaintofheart.wordpress.com/2013/12/19/extended-insurance/
Marcus considers monetary policy reaction to oil shocks in the 70s by the U.S., Japan and Germany: http://thefaintofheart.wordpress.com/2013/12/20/the-great-inflation-is-being-revisited/
The CBO measure of potential NGDP can be misleading: http://thefaintofheart.wordpress.com/2013/12/23/not-so-fast-ed/
Some additional NGDP perspective for important Fed graphs: http://thefaintofheart.wordpress.com/2013/12/23/right-before-christmas-100-years-ago/
Benjamin Cole takes a closer look at QE3
World trade volume is still falling away from trend
Marcus considers six countries in a continuation of the previous post

Britmouse provides recent UK numbers: http://uneconomical.wordpress.com/2013/12/20/uk-2013-q3-quarterly-national-accounts/

Peter Sisko (Money Mischief) provides a brief overview of the work of the Fed, for the past 100 years: http://moneymischief.blogspot.com/2013/12/100-godina-fed-a.html (Just use Google translate)

Lars Christensen asks, how might a nation's resources be privatized? http://marketmonetarist.com/2013/12/18/some-inspiration-for-matt-zwolinski-my-suggestion-for-a-venezuelan-citizen-account/

For someone who indicated he might be too busy to post much during the holidays...(!)
(Scott Sumner)
how important is finance for RGDP or the path of NGDP?
...where we learn that even Google has "institutionalized" confirmation bias! The "stance" of monetary policy
The Fed has "edged" closer to Scott's October recommendations
The Fed wasn't quite happy with QE but didn't want to tighten...
How difficult is monetary economics? Somewhere between rocket science and quantum mechanics
Some clarification for John Carney on the monetary base
Britmouse also responds - "For reasons not clear" Krugman ignores aggregate supply
How is it useful? Krugman on the Phillips Curve
Two quick comments on taxes turned into quite a discussion.
John Cochrane could be confusing "money supply model" with monetarist model
In response to Nick's post, Nick Rowe on Cochrane and Williamson
Good post: How many economists can answer this question

Nick Rowe - "You get barter because the quantity of medium of exchange is too low"
In response to the recent finance/macro theme - Does finance need money/macrofoundations?
Nick in response to John Cochrane
and - Enough with announcing targets for nominal interest rates already
Correlations between nominal interest rates and inflation rates involve Long run, medium run and short run Fisher curves

Some helpful clarification from Bill Woolsey - How Important is Shadow Banking?

Whatever we have to worry about, Evan Soltas suggests U.S. savings rate isn't in that category
Evan wants to know - http://esoltas.blogspot.com/2013/12/how-did-we-miss-swiss.html

(Lorenzo) Central Banks fighting the threat of rising productivity?
http://skepticlawyer.com.au/2013/12/23/what-is-it-about-money/

Also of interest:

Uwe Reinhardt's healthcare viewpoints are always worth taking the time to consider: http://economix.blogs.nytimes.com/2013/12/20/the-economics-of-being-kinder-and-gentler-in-health-care/?_r=0

Bart Wilson's last post for Econlog (for now), A Literary Theoretical Treatment of Prices

Wishing all my readers the Season's Best, whether "young" or "old" - near or far!