Midweek Market Monetarist Links and Summaries - 10/29/14

"The notion that exchange-rate depreciation to avoid deflation is a beggar thy neighbor policy or a warlike act could not be more wrong." (David Glasner) http://uneasymoney.com/2014/10/22/currency-wars-the-next-generation/
The letter viewed inflation as the problem, at the moment when inflation could be the solution: http://uneasymoney.com/2014/10/28/just-how-infamous-was-that-infamous-open-letter-to-bernanke/

Marcus Nunes responds to a post from Brad Delong: http://thefaintofheart.wordpress.com/2014/10/23/theres-no-proper-inflation-target-just-a-proper-nominal-spending-level-target/
Inflation just doesn't tell the story: http://thefaintofheart.wordpress.com/2014/10/25/with-incredible-headlines-like-these-who-can-believe-inflation-is-the-proper-target/
And this story has a sad ending...http://thefaintofheart.wordpress.com/2014/10/25/while-they-bicker-the-zone-flounders/
Both Cato and Brookings are taking action: http://thefaintofheart.wordpress.com/2014/10/25/responding-to-circumstances/
...only they didn't wonder why demand was weak! http://thefaintofheart.wordpress.com/2014/10/26/the-riksbank-thinks-inflation-is-a-price-phenomenon/
Some thoughts from a local resident: http://thefaintofheart.wordpress.com/2014/10/27/what-the-election-result-in-brazil-means/
Marcus highlights a good Forbes article and illustrates with divisia M3 charts: http://thefaintofheart.wordpress.com/2014/10/27/some-are-having-second-thoughts-about-the-stance-of-monetary-policy/

Use the model that is "less wrong" (Nick Rowe) http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/10/stability-and-robustness.html
An appearance on Boom Bust: https://www.youtube.com/watch?v=fRoW-NrSgYQ&feature=youtu.be

"It's not coherent" (Scott Sumner) Did QE worsen inequality? That's not even a question.
Good news? Hmm...Layoffs reach the lowest level EVER
What are recessions "good" for? Turning up inflation a bit. The problem with procyclical inflation
South Dakota? Wow. I can't even imagine a state with no income tax or personal property tax. What's the matter with Kansas? (big government)

Econlog posts from Scott Sumner:

Monetary economics is not like everyday morality.
The great sin, the even greater sin, and the enlightened path
The Fed got lucky. My naivete about government officials
I like this closing line: "You may not care about monetary policy, but monetary policy most certainly cares about you." The ECB has an inflation target. How do the Germans propose they hit it?

(Britmouse) New data for low level breakdown of GDP http://uneconomical.wordpress.com/2014/10/24/uk-2014-q3-nominal-gva-early-estimate/

Musings on inflation (Bonnie Carr) http://dajeeps.wordpress.com/2014/10/24/does-fiat-money-equal-socialism/
NGDP and the "little trees" at the forest floor in need of sunlight:
http://dajeeps.wordpress.com/2014/10/25/somebody-save-me-from-the-price-level-discussions/

Does QE "steal" brain cells? (Benjamin Cole) http://thefaintofheart.wordpress.com/2014/10/24/professor-john-cochrane-and-money-manager-peter-schiff-agree-zero-percent-hyperinflation-ahead/
Unemployment does not correlate well with inflation: http://thefaintofheart.wordpress.com/2014/10/29/central-bankers-are-blind-to-new-phillips-curve-or-just-sadists/

Also of interest:

Arnold Kling provides a good list for staying true to one's principles: http://www.arnoldkling.com/blog/luigi-zingales-on-economists-capture/