Wednesday, June 17, 2015

Midweek Market Monetarist Links and Summaries - 6/17/15

Is a competitive equilibrium possible, with price taking behavior and partially excludable nonrival goods? (Nick Rowe)
Ideas have their work cut out for them:

Oddly enough, plenty of austerity was involved (Mark Sadowski)

David Glasner considers several aspects of long term unemployment:

Retail sales have only followed the lead of aggregate nominal spending (Marcus Nunes)
Inflation continues to dive, right along with unemployment...
Even without reference to the previous level, the growth level continues to trend downward:
Any month now...
Whatever hopes for recovery any presidential candidate holds, the Fed likely holds other plans:

Stephen Williamson still has a lot of faith in the models (Scott Sumner) AD shocks aren't so mysterious
Dubai has bounced back Please, do buy. You won't regret it
The supply side argument for lower top rates will probably weaken over time What's wrong with Louisiana?
Lower tax rates does not mean supply side miracles Sioux Falls rises, as Sioux City falls
InfoAmerica and CommodityAmerica - Where taxes matter and where they don't
Digital gains are fine, but they have little if anything to do with aggregate spending capacity: Digital deflation? Not an attractive idea

Scott at Econlog:
Iceland's crisis was far more severe...Market Monetarism in Iceland?
They have not been rewarded for incentive: How egalitarianism failed Japan
People notice relative conditions Interpersonal utility comparisons are unavoidable
Switzerland rejects the Piketty agenda Voters in successful neoliberal economies have no interest in Pikettynomics
Sometimes, regulations make life "easier" for NIMBYs...Matt Yglesias on environmental impact regulations
More reasoning from a price change: Kevin Drum's Third Law is wrong

Perhaps Stanley Fischer has declared "victory" a bit prematurely...(George Selgin)

Can companies have macroeconomic effects? (Lars Christensen)

Benjamin Cole responds to an article from Kevin O'Marah:

One could think of supposed overinvestment in housing, as a world record for reasoning from a price change (Kevin Erdmann)
Kevin responds to a recent paper from Vox:

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