Even if someone is opposed to NGDP level targeting, these four steps would be quite useful (Scott Sumner) The Second Step
"...sluggish growth, very low inflation, and especially near-zero interest rates." Was it sensible to expect "this" back in 2009?
Where will productivity come from? Yes, the Great Stagnation is here
4.3% could be Australia's new normal: Australia's Great Stagnation
When tight regulations lead to tight monetary policy: Are Aussie housing regulations the dumbest rules on Earth? Also, Lorenzo has a more comprehensive post on this subject: Fancy maths and data series are not reason to ignore supply and demand
Scott at Econlog
A question re inflation with an NGDP target, via Twitter: Reply to Austin Goolsbee
Subtract finance, and the model becomes comprehensible: The world's three smallest macro models
"...impotence is not inherent; it is self imposed" (David Glasner) http://uneasymoney.com/2015/06/04/repeat-after-me-inflations-the-cure-not-the-disease/
In an IT regime, supply shocks of all kinds can unnecessarily put people out of work (Bonnie Carr) https://dajeeps.wordpress.com/2015/06/03/bird-flu-epidemic-in-laying-hens-driving-inflation-in-the-price-of-eggs/
Something about this liquidity isn't quite right...https://dajeeps.wordpress.com/2015/06/09/w-t-h-cnbc-equates-qe-with-lack-of-liquidity/
Inflation targeting does not take a long-run Omega point into consideration (Nick Rowe) http://worthwhile.typepad.com/worthwhile_canadian_initi/2015/06/back-propagation-induction-does-not-work-under-inflation-targeting.html
A one period, three good model, in response to Krugman: http://worthwhile.typepad.com/worthwhile_canadian_initi/2015/06/i-need-a-3d-symmetric-edgeworth-box.html
Nick continues from the previous post and works with a model from Nick Edmond http://worthwhile.typepad.com/worthwhile_canadian_initi/2015/06/a-second-tiny-macro-model-for-microeconomists.html
Plenty of useful information in this post from George Selgin: http://www.alt-m.org/2015/06/04/ten-things-every-economist-should-know-about-the-gold-standard-2/
...but does Summers envision a level target? (Marcus Nunes) https://thefaintofheart.wordpress.com/2015/06/02/a-solution-to-delongs-back-propagation-induction-unraveling-problem/
Recovery? It's all "relative"...https://thefaintofheart.wordpress.com/2015/06/03/krugmans-answer-to-delong-were-in-a-postmodern-economy/
His message: Don't let doubt set in https://thefaintofheart.wordpress.com/2015/06/03/kuroda-nails-it/
Where is the destination? https://thefaintofheart.wordpress.com/2015/06/06/even-a-great-stagnation-requires-planning/
Too much talk of housing "bubbles" https://thefaintofheart.wordpress.com/2015/06/09/revisionist-thoughts-was-australia-just-luckier-than-most/
Who still believes in growth? (Benjamin Cole) https://thefaintofheart.wordpress.com/2015/06/04/the-fed-can-suffocate-the-economy-under-ngdplt-too/
Limits on supply are a fact of life in high rent cities (Kevin Erdmann) http://idiosyncraticwhisk.blogspot.com/2015/06/housing-tax-policy-series-part-37-our.html
Perhaps a temporary hiring lull: http://idiosyncraticwhisk.blogspot.com/2015/06/may-2014-employment.html
An article from Scott Sumner and Kevin Erdmann at the National Review: http://www.nationalreview.com/article/419442/heres-whats-driving-inequality-scott-sumner-kevin-erdmann
"...the petro-monetary transmission mechanism at work" (Lars Christensen) http://marketmonetarist.com/2015/06/06/kwanza-devaluation-is-the-right-decision-but-fundamental-regime-change-is-needed/
The monetary-real causality is not stable: http://marketmonetarist.com/2015/06/07/does-y-determine-mv-or-is-it-mv-that-determines-p/
U.S. stock prices as a reality check: http://marketmonetarist.com/2015/06/10/the-stock-market-remains-at-a-permanently-high-plateau/
Also of interest:
The rural poor in the Irish potato famine lacked access to capital markets...one cannot help but consider the skills/time based parallels of the present (A guest post from Tyler Beck Goodspeed) http://antonhowes.tumblr.com/post/121035507254/guest-post-how-microfinance-helped-farmers-adjust
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