Midweek Market Monetarist Links and Summaries - 4/2/14

The latest round in a friendly feud (David Glasner):
http://uneasymoney.com/2014/03/27/the-uselessness-of-the-money-multiplier-as-brilliantly-elucidated-by-nick-rowe/ (Also here)
Nick Rowe's response to David Glasner:
http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/03/there-can-be-an-excess-supply-of-commercial-bank-money.html
Scott Sumner follows up (at his "home" site): The real problem with the money multiplier
Poor Nick..."alone" again! http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/03/two-first-year-multipliers-their-truth-beauty-and-usefulness.html
At Econlog, Scott reassures Nick that he's not completely alone...
One multiplier to rule them all! (apologies to Nick Rowe)
Another Econlog followup: http://econlog.econlib.org/archives/2014/04/marshalls_sciss.html

Something about the model is hard to pin down (Nick Rowe)
http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/03/liquidity-pile-ups-on-the-wicksellian-roundabout.html

Scott Sumner and David Beckworth on BoomBust, March 27
https://www.youtube.com/watch?v=kWC1h8jNo8U
David has two posts which provide further detail for his segment:
http://macromarketmusings.blogspot.com/2014/03/ad-hoc-monetary-policy.html
http://macromarketmusings.blogspot.com/2014/03/market-monetarism-and-endogenous-money.html
How to think about the last FOMC meeting? David contrasts some opinions and offers his own: http://macromarketmusings.blogspot.com/2014/03/should-we-be-worried.html

Lars Christensen continues his forecasting series:
http://marketmonetarist.com/2014/03/27/a-framework-for-applied-macroeconomic-forecasting-part-2/

At least some nominal targeting has occurred (Scott Sumner)
Could we have had a severe recession without the 2008 financial crisis?
There's plenty of contradiction: What do the VSP think about the current economy?
"Even though MM is winning we aren't given credit. But that's always the way things work. What matters is that ideas get adopted." Academics are rapidly catching up to market monetarists

Econlog posts from Scott Sumner this week:
http://econlog.econlib.org/archives/2014/03/central_banks_d.html
http://econlog.econlib.org/archives/2014/03/fracking_boom_w.html

Marcus Nunes: http://thefaintofheart.wordpress.com/2014/03/27/57-months-into-the-recovery-and-the-economy-is-still-depressed-why/
Charles Evans has the causality reversed: http://thefaintofheart.wordpress.com/2014/03/28/ho-ho-ho/
Among other things, a price level target is not the same thing as a nominal target:  http://thefaintofheart.wordpress.com/2014/03/29/more-debate-with-mian-and-sufis-house-of-debt/
Too bad the public isn't more aware of these graphs. Maybe then her remarks would not be taken so seriously: http://thefaintofheart.wordpress.com/2014/03/30/esther-george-needs-a-new-lens-prescription/
Catherine Johnson explains What Jeremy Stein Really Meant
Can Abe and Kuroda "keep the flame burning"? http://thefaintofheart.wordpress.com/2014/03/31/will-the-increase-in-the-consumption-tax-derail-abenomics/ 
The Fed is still "navigating without instruments" http://thefaintofheart.wordpress.com/2014/04/01/what-does-extraordinary-commitment-mean/

Ryan Avent wants to know, What's wrong with the Fed?

Heh. (James Pethokoukis) Is the US economy unable to grow as fast as it used to? If so, maybe this is why

Also of interest:

From the Tax Policy Center: You Could Owe Capital Gains When You Spend Bitcoin

Noteworthy also, when lower incomes eventually coalesce for economic design in domestic summits:
http://blogs.wsj.com/economics/2014/03/28/home-builders-bidding-up-best-lots-ignoring-outskirts/?mod=WSJBlog

I'd like to see this particular participation in graphs:
http://www.economicthought.net/blog/?p=5928