What an exciting week it has been for Scott Sumner! Out of the Dark Ages: The first step
Scott lists some of the initial donors, and "gets the ball rolling": Thank you
Working out the details...Why is it so expensive to to create an NGDP futures market?
Japan did an incredible amount of fiscal stimulus for 20 years and still got deflation: Men with two feet on the ground
...but how useful is it? A perplexing survey confirms all my priors
Some Econlog posts from Scott
Still no free lunch
Currency and lotteries: is there a free lunch?
Bill Woolsey responds to the "free lunch" posts: Sumner on Currency, Lotteries and Free Banking
(Scott) When does moderate redistribution make sense? Words and meaning (good theft and bad)
Lars Christensen acknowledges Leland Yeager's special day, and also provides links for other tributes from Free Banking: http://marketmonetarist.com/2014/10/04/leland-yeager-at-90-happy-birthday/
also, a great tribute from Bill Woolsey: Happy 90th to Leland Yeager
Why bother with LCMI when an NGDP level target would be so much better? http://marketmonetarist.com/2014/10/06/the-fed-was-targeting-the-labor-market-conditions-index-30-years-before-it-was-invented/
(Marcus Nunes) What were they thinking? http://thefaintofheart.wordpress.com/2014/10/01/a-case-in-which-economists-skepticism-proved-correct/
"In the EZ case, the Hydra is winning!" http://thefaintofheart.wordpress.com/2014/10/01/the-twelfe-labors-of-hercules/
More misplaced inflation fears: http://thefaintofheart.wordpress.com/2014/10/02/a-revival-of-the-cost-push-theory-of-inflation/
Marcus looks at the labor force participation rate over the last three cycles: http://thefaintofheart.wordpress.com/2014/10/04/is-there-an-alternative-less-painful-world/
James Bullard notes that central bankers have been patient with the economy as it prepares for liftoff...??!! http://thefaintofheart.wordpress.com/2014/10/04/11140/
There's too much reductionism (David Glasner) http://uneasymoney.com/2014/09/30/explaining-the-hegemony-of-new-classical-economics/
Walras's Law only goes so far...http://uneasymoney.com/2014/10/02/franklin-fisher-on-the-stability-of-general-equilibrium/
Would we recognize a central bank that was paying for government spending by printing money? (Nick Rowe) http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/10/gali-government-spending-and-goats.html
Nick provides a brief summary of his views: http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/10/g-ngdp-zlb.html
LMI forecasts? One equation is not enough. http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/10/how-to-test-whether-the-lmi-lmci-is-a-good-indicator.html
If only Obama would read this post...(Benjamin Cole) http://thefaintofheart.wordpress.com/2014/10/04/obamas-big-last-chance-the-president-if-clever-could-fill-four-fomc-seats/
Neither of our political parties is presently doing well with monetary policy roles (Bonnie Carr) http://dajeeps.wordpress.com/2014/10/05/paddling-upstream-my-big-dilemma/
"Like gold, credit is subject to laws of supply and demand." (James Caton) http://moneymarketsandmisperceptions.blogspot.com/2014/10/endogeneity-of-credit-expectations-and.html
World savers: from Treasuries...to housing? (Kevin Erdmann) http://idiosyncraticwhisk.blogspot.com/2014/10/the-aggregate-demand-problem-housing.html
Will investment growth mostly come from industry? http://idiosyncraticwhisk.blogspot.com/2014/10/young-adult-male-employment-and-housing.html
A good primer post from Sam Bowman at ASI: Nominal GDP targeting for dummies
Also of interest:
(James Pethokoukis) Why the 'most important chart you'll see this year' has big problems
The causal density relationship is apt: http://www.arnoldkling.com/blog/john-cochrane-on-inequality/
From Bruegel: http://www.bruegel.org/nc/blog/detail/article/1450-the-fed-and-the-secular-stagnation-hypothesis/
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