Monthly Archives: October 2012

This is Steven Williamson praising Minneapolis Fed chief Kocherlakota in 2010: Narayana Kocherlakota, 9th Federal Reserve District President, gave a speech, posted here, which I originally commented onhere. He’s speaking to an audience of Upper Peninsula business people, and he treats them … Continue reading →

The good kind; The bad kind The good kind is “whole money”. That is, it is both the MoE and MoA. Bad money loses its MoA property, but keeps its MoE property. In that sense you could say, like Scott, … Continue reading →

HT: Drunkeynesian

Veronique de Rugy and Keith Hall show that the difference in RGDP growth between the second and third quarters was all due to increase in government spending. We know that growth in government spending was almost all attributed to a … Continue reading →

The present crisis has been labeled a “financial crisis”, the conventional wisdom being that its roots can be found in the housing boom and subsequent bust which, on its turn, was the result of lax monetary policy, with the Fed … Continue reading →

Taking a cue from Lars Christensen, there´s more on “monetary freak” Krugman. This also from a 1999 piece: “Morning in Japan?” (Click on Japan in the sidebar and than on the article title): SYNOPSIS: Japan’s considerable problems can still be … Continue reading →

Krugman defends the Keynesianism-Krugmanism with regards to some popular views on Latvian ‘success’: OK, the recent Reinhart-Rogoff protest against “gross misinterpretations of the facts” on financial crises doesn’t actually say anything about Latvia. But the points R-R make in taking on the … Continue reading →

Scott Sumner questions the validity of the majority on fiscal stimulus: Most economists who talk about fiscal stimulus in the press seem to assume that economic theory predicts it’s effective whether you are at the zero bound or not.  So … Continue reading →

But at the very end, in his conclusion, he misses out: The argument that unemployment is due to a skills mismatch leads to very different conclusions about economic policy than the view that the main cause of unemployment is insufficient … Continue reading →

I know… but couldn´t resist, not with this about turn by a major figure! William Dudley, the president of the Federal Reserve Bank of New York, gave a speech on Monday to the National Association for Business Economics, an organization for academic and applied … Continue reading →