Scott Sumner thinks those of us who favor a monetary policy regime of explicit level targeting of a nominal variable (NGDP, in this case) should do one… Read more “Being Concise”
Tag: Inflation
1-800 Bets Off
I strongly think that public intellectuals, and especially people who are paid to write puff pieces op-ed’s about things they “believe in”, should be required to take… Read more “1-800 Bets Off”
The Perfect Asset Tells a Depressing Tale
In the comments section of a previous post, Ryan Vann takes issue with DTM’s understanding of the role of bank reserves: His criticism about reserves is a… Read more “The Perfect Asset Tells a Depressing Tale”
Lighter Than Air
Not a valid description of the price level. For the purposes of judging the stance of monetary policy, none of these are particularly useful…however if you must,… Read more “Lighter Than Air”
Lowered Expectations
Over on Matt Yglesias’ blog, commenter DTM does not agree with me on this post: Good lord, this is getting tedious. Blanchard was simply wrong about the… Read more “Lowered Expectations”
Anniversary Party
As I write this, around $200 billion of the “stimulus” has been “awarded”(?). It is worth a refreshing looking at definition of the word stimulus, because the… Read more “Anniversary Party”