What’s a neutral monetary policy?
The Federal Reserve Bank of Richmond alerted me to a newish paper from one of my favourite economists, Robert Hetzel, entitled “The Monetarist-Keynesian Debate and the Phillips Curve: Lessons from the...
View ArticleVideo: Adam Smith Lecture 2014 by Scott Sumner
Scott Sumner’s Adam Smith Lecture, delivered last week, is now online. For my money it’s the best outline of his view of the Great Recession and the correct role of monetary policy that I have yet...
View ArticleVoxplainer on Scott Sumner & market monetarism
I have to admit that I usually dislike Vox. The twitter parody account Vaux News gets it kinda right in my opinion—they manage to turn anything into a centre-left talking point—and from the very...
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Monetary policy still has teeth
A storm has erupted over the past few days in a lot of the economics blogosphere, over an article by Mike Konzcal, backed by Paul Krugman, which claimed that current economic developments were...
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A question for market monetarists
Market monetarism, as propagated most prominently by Scott Sumner’s (excellent) blog The Money Illusion, argues that recessions come about due to a collapse in demand. This is a problem because prices...
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