Midweek Market Monetarist Links and Summaries - 1/1/14

Happy New Year!

This has been a light week for blogging in general, although Nick Rowe has been quite busy...
Those who hire - do they "gain" in a recession?http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/12/efficiency-wages-and-recessions.html#more
There is a taboo against buyers of labor switching to a competing seller who offers a better deal. There is no taboo against sellers of labor switching to a competing buyer who offers a better deal.
"Never reason from an increase in inequality...Inequality is an endogenous variable": http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/12/two-compulsory-lotteries.html
Why can't all banks be as safe as the Bank of Canada? http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/12/banks-with-100-capital-ratios.html
What happens when two currencies are identical, but only one is backed by assets? http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/12/backedcoin-vs-unbackedcoin.html

My thoughts on reading this post: Remember Monopoly games as a kid? Imagine that - for a couple of turns - the banker gets cold feet and refuses to follow, back up or otherwise honor the role of the dice, that is our "moves". (Marcus Nunes)
http://thefaintofheart.wordpress.com/2013/12/25/in-5-takeaways-on-how-bernanke-will-be-remembered-pro-or-con-they-all-get-it-wrong/
In 2010, something happened: http://thefaintofheart.wordpress.com/2013/12/26/swedens-loss-of-faith/
1960's all over again? Except this time, finance doesn't have the "teeth" to back the fiscal bet:
http://thefaintofheart.wordpress.com/2013/12/27/monetary-policy-trumps-fiscal-policy/
Output alone does not tell us participation levels: http://thefaintofheart.wordpress.com/2013/12/29/never-reason-from-the-previous-peak/
Remember this bet? (Which Krugman "lost")  http://thefaintofheart.wordpress.com/2013/12/30/nobel-wager/

Some interesting aspects of currency demand at Christmas, from Scott Sumner's dissertation.
When tapering is done, that doesn't mean the work of (most) Market Monetarists is done, by any means: Brace yourself for the taper
Scott will be guest blogging at Econlog this year Yes he will still continue his main blog as well.

Remember Dustin's question in one of Scott Sumner's posts, last week? Some more "untangling" in these two responses. First one is from David Glasner: http://uneasymoney.com/2013/12/26/never-mistake-a-change-in-quantity-demanded-for-a-change-in-demand/
And the second post is from Bill Woolsey: Interest Rates and Investment

Lars Christensen covers lots of territory in this post, and also thoughts on family life:
http://marketmonetarist.com/2013/12/26/christmas-muslings-on-life-money-and-blogging/

Kevin Erdmann understands the degree to which Obamacare affects very real scarcities - An important post:
 http://idiosyncraticwhisk.blogspot.com/2013/12/abundance-requires-real-time-knowledge.html