Even two years out, the same prediction from the FOMC: http://macromarketmusings.blogspot.com/2014/07/its-all-but-official-there-is-no-2.html
David provides highlights of his most recent paper:
http://macromarketmusings.blogspot.com/2014/07/its-time-for-fed-to-move-beyond.html
An article in Wonkblog for the Washington Post: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/07/14/heres-why-larry-summers-is-wrong-about-secular-stagnation/
"There is hardly any data on the natural interest rate." http://macromarketmusings.blogspot.com/2014/07/the-data-problem-with-natural-interest.html
David provides some explanation for his Washington Post article: http://macromarketmusings.blogspot.com/2014/07/follow-up-to-my-washington-post-piece.html
Nick Rowe considers the Taylor rule in two posts:
http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/07/a-simple-test-of-simple-rules-against-actual-policy-in-the-actual-economy.html
http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/07/some-simple-arithmetic-for-mistakes-with-taylor-rules.html
"What else" might be causing unemployment?http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/07/unemployment-aggregate-demand-and-searchmatching.html
When "appearances" really matter (Lars Christensen) http://marketmonetarist.com/2014/07/11/hollandes-danish-spectacles-is-france-the-next-trouble-spot-in-the-euro-zone/
A spot on post from Lars, inspired by Robert Hetzel and the quantity theory of money: http://marketmonetarist.com/2014/07/13/the-un-anchoring-of-inflation-expectations-1970s-style-monetary-policy-but-now-with-deflation/
I didn't know an iPhone could be so helpful in a hurry! http://marketmonetarist.com/2014/07/15/never-reason-from-a-price-change-version-436552/
Deflation has a thousand excuses: http://marketmonetarist.com/2014/07/16/stock-picker-janet-yellen/
(Marcus Nunes) The Taylor Rule proved to be an insufficient indicator: http://thefaintofheart.wordpress.com/2014/07/10/instrument-rules-and-target-rules/
Fischer is bogged down with too many goals: http://thefaintofheart.wordpress.com/2014/07/10/overburdening-the-fed/
The battle to "contain" the Fed gets more confusing than ever: http://thefaintofheart.wordpress.com/2014/07/11/beware-of-common-benchmarks/
A contraction in the first half? http://thefaintofheart.wordpress.com/2014/07/11/dont-blame-the-messenger/
Stuck in the same spot: http://thefaintofheart.wordpress.com/2014/07/11/plosser-the-scratched-vinyl-record/
Marcus highlights David Beckworth's paper and provides an alternative story for the 2002-2004 period: http://thefaintofheart.wordpress.com/2014/07/13/history-shows-that-an-explicit-ngdp-level-target-is-much-better-than-it/
When words don't have the money to back them...http://thefaintofheart.wordpress.com/2014/07/14/quite-comical/
It's not easy to pry loose the rusted locks of failed strategies... http://thefaintofheart.wordpress.com/2014/07/15/when-hunger-joins-up-with-eagerness-to-eat-understanding-the-house-price-boom/
Applying the Piketty 5% rule (Scott Sumner) Should the Detroit city government spend $185 million/year on art?
An odd penalty...The one thing you cannot do with cash
Scott responds, point by point: Tony Yates on market monetarism
At Econlog, Scott highlights a post from Phillip Booth regarding Piketty
The nominal, and the real There are two kinds of people
(sarcasm intended) Governments don't create problems, they solve them
(David Glasner) "...there is simply no scientific justification for the highly formalistic manner in which much modern economics is now carried out." http://uneasymoney.com/2014/07/15/another-complaint-about-modern-macroeconomics/
Bonnie Carr considers the recent post from Tony Yates, http://dajeeps.wordpress.com/2014/07/14/tony-yates-punching-the-daylights-out-of-a-market-monetarism-strawman/
"...before we get an NGDP targeting regime the Fed is likely to create another NGDP shock, and just like last time, it will be blamed on a problem that doesn't exist..." (Kevin Erdmann) http://idiosyncraticwhisk.blogspot.com/2014/07/risk-valuations-part-9-greenspan-put.html
"It frustrates me to see economists universally referring to the movement of production to low wage economies when the opposite is true." (Kevin Erdmann) There's a connection between high wage labor and international markets. http://idiosyncraticwhisk.blogspot.com/2014/07/risk-valuations-part-10-risk-aversion.html
Also of interest:
"The message is that governments should do what they need to do to stop the violent conditions that are making these children leave." http://time.com/2984030/honduras-children-deported-us-san-pedro-sula-violence-gangs/ I would add that the U.S. needs to stop its role in perpetuating the drug wars.
(Tyler Cowen) Why the Taylor Rule isn't a rules based approach to monetary policy
An article in Wonkblog for the Washington Post: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/07/14/heres-why-larry-summers-is-wrong-about-secular-stagnation/
"There is hardly any data on the natural interest rate." http://macromarketmusings.blogspot.com/2014/07/the-data-problem-with-natural-interest.html
David provides some explanation for his Washington Post article: http://macromarketmusings.blogspot.com/2014/07/follow-up-to-my-washington-post-piece.html
Nick Rowe considers the Taylor rule in two posts:
http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/07/a-simple-test-of-simple-rules-against-actual-policy-in-the-actual-economy.html
http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/07/some-simple-arithmetic-for-mistakes-with-taylor-rules.html
"What else" might be causing unemployment?http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/07/unemployment-aggregate-demand-and-searchmatching.html
When "appearances" really matter (Lars Christensen) http://marketmonetarist.com/2014/07/11/hollandes-danish-spectacles-is-france-the-next-trouble-spot-in-the-euro-zone/
A spot on post from Lars, inspired by Robert Hetzel and the quantity theory of money: http://marketmonetarist.com/2014/07/13/the-un-anchoring-of-inflation-expectations-1970s-style-monetary-policy-but-now-with-deflation/
I didn't know an iPhone could be so helpful in a hurry! http://marketmonetarist.com/2014/07/15/never-reason-from-a-price-change-version-436552/
Deflation has a thousand excuses: http://marketmonetarist.com/2014/07/16/stock-picker-janet-yellen/
(Marcus Nunes) The Taylor Rule proved to be an insufficient indicator: http://thefaintofheart.wordpress.com/2014/07/10/instrument-rules-and-target-rules/
Fischer is bogged down with too many goals: http://thefaintofheart.wordpress.com/2014/07/10/overburdening-the-fed/
The battle to "contain" the Fed gets more confusing than ever: http://thefaintofheart.wordpress.com/2014/07/11/beware-of-common-benchmarks/
A contraction in the first half? http://thefaintofheart.wordpress.com/2014/07/11/dont-blame-the-messenger/
Stuck in the same spot: http://thefaintofheart.wordpress.com/2014/07/11/plosser-the-scratched-vinyl-record/
Marcus highlights David Beckworth's paper and provides an alternative story for the 2002-2004 period: http://thefaintofheart.wordpress.com/2014/07/13/history-shows-that-an-explicit-ngdp-level-target-is-much-better-than-it/
When words don't have the money to back them...http://thefaintofheart.wordpress.com/2014/07/14/quite-comical/
It's not easy to pry loose the rusted locks of failed strategies... http://thefaintofheart.wordpress.com/2014/07/15/when-hunger-joins-up-with-eagerness-to-eat-understanding-the-house-price-boom/
Applying the Piketty 5% rule (Scott Sumner) Should the Detroit city government spend $185 million/year on art?
An odd penalty...The one thing you cannot do with cash
Scott responds, point by point: Tony Yates on market monetarism
At Econlog, Scott highlights a post from Phillip Booth regarding Piketty
The nominal, and the real There are two kinds of people
(sarcasm intended) Governments don't create problems, they solve them
(David Glasner) "...there is simply no scientific justification for the highly formalistic manner in which much modern economics is now carried out." http://uneasymoney.com/2014/07/15/another-complaint-about-modern-macroeconomics/
Bonnie Carr considers the recent post from Tony Yates, http://dajeeps.wordpress.com/2014/07/14/tony-yates-punching-the-daylights-out-of-a-market-monetarism-strawman/
"...before we get an NGDP targeting regime the Fed is likely to create another NGDP shock, and just like last time, it will be blamed on a problem that doesn't exist..." (Kevin Erdmann) http://idiosyncraticwhisk.blogspot.com/2014/07/risk-valuations-part-9-greenspan-put.html
"It frustrates me to see economists universally referring to the movement of production to low wage economies when the opposite is true." (Kevin Erdmann) There's a connection between high wage labor and international markets. http://idiosyncraticwhisk.blogspot.com/2014/07/risk-valuations-part-10-risk-aversion.html
Also of interest:
"The message is that governments should do what they need to do to stop the violent conditions that are making these children leave." http://time.com/2984030/honduras-children-deported-us-san-pedro-sula-violence-gangs/ I would add that the U.S. needs to stop its role in perpetuating the drug wars.
(Tyler Cowen) Why the Taylor Rule isn't a rules based approach to monetary policy
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