Nick Rowe explains how the fiscal theory of the price level can be problematic for the quantity theory of money: http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/12/the-degeneracy-of-ftpl.html
Everything about bonds depends on what is already happening with money supply: http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/12/currency-is-alpha-bonds-are-beta.html
FTPL is "a theory that cannot be universally true" http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/12/who-would-ever-lend-to-an-ftpler.html
One more "throttle", before Nick gives FTPL a break! http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/12/ftpl-a-federal-or-provincial-issue.html
Bill Woolsey takes another look at IOR, with some math: Interest on reserves again
No, money is not just like government bonds...Beckworth on the fiscal theory of the price level
George Selgin defends a steady NGDP target...or perhaps Domestic Final Demand: http://www.freebanking.org/2014/12/12/free-banking-and-the-dollar/
"The hawks ignored the wisdom of Milton Friedman" (Scott Sumner) A distant echo of the big bang
Why has it gone under reported, that industrial production has been rising faster than RGDP in recent years? America's industrial boom (what is it telling us?)
The Gabe Newell funded Hypermind NGDP Market is up and running
"in his pessimistic mood" Krugman on the limits of monetary policy
Scott at Econlog:
What is the point of Fed meetings...really? John Cochrane on modern macro
The fact that Draghi may resign, certainly isn't helping. The ECB: is it a hopeless case?
(David Glasner) More on complexity, equilibrium and coordination failures: http://uneasymoney.com/2014/12/12/traffic-jams-and-multipliers/
Hard to believe this FOMC transcript was from a decade earlier...(Marcus Nunes): http://thefaintofheart.wordpress.com/2014/12/12/the-feds-motto-mistakes-must-be-repeated/
When central bankers don't actually believe in QE...(Benjamin Cole) http://thefaintofheart.wordpress.com/2014/12/16/the-fed-will-almost-certainly-fail-the-next-qe-test/
How to think about the supply side issues of 2002-2004? (Bonnie Carr) https://dajeeps.wordpress.com/2014/12/13/canned-astonishment/
Sam Bowman highlights an Ambrose Evans-Pritchard article: A miracle cure for central bank impotence
Supply side circumstance are one of the bigger problems for an inflation targeting regime (David Beckworth) http://macromarketmusings.blogspot.com/2014/12/inflation-targetings-big-wrinkle.html
How is a tax state different from a fiscal state? (Lorenzo) http://skepticlawyer.com.au/2014/12/11/domain-states-tax-states-and-fiscal-states/
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