Archive for Market Monetarism
Failed I Have
I have been warning you guys for a long time now that Scott Sumner was the real guy to watch. Now Christina Romer writes in the NYT–the NYT for crying out loud!–that Ben Bernanke needs to get his Volcker on: Today, inflation is still low, but unemployment is stuck at a painfully high level. And, [...]
Read moreA Video Trying to Make Nominal GDP Targeting the New Normal
This is pretty good, and has the endorsement of lots of market monetarists (see the comments here). If I were going to make a video to introduce a newcomer to Scott Sumner’s ideas, it would look something like this.
Read moreJohn Carney Smells a Rat, Too
Seeing that I criticized Sumner lo these many years and have lived to tell the (boring) tale, John Carney has lately been launching broadsides against the Brawler from Bentley, here and here. We’ll see if Scott plays bad blogger, good blogger with Carney like he did with Kelly Evans. Evans & Carney, some Free Advice: [...]
Read moreHow Are Sujatha Reddy and Scott Sumner Alike?
Well, neither has been in my living room. But beyond that, they both have far more expertise in their respective fields than I do, and yet I confidently claim that they are being very misleading when they “debunk” conventional wisdom. I’ve already complained about how Scott says that inflation poses no problem at all (or [...]
Read moreMore Frank Talk From DeLong on NGDP Targeting
You know, I’ve had my differences with Brad DeLong–and I really can’t stand his habit of editing people’s comments–but he’s actually a straight shooter. Robert Waldmann had asked the entirely reasonable question, “Jan Hatsius (and Brad DeLong) argue that the Fed should declare its intention of buying whatever quantity it takes of long-term Treasuries to [...]
Read moreMurphy Debate With Sumner in January
It’s on. (I was going to link to an Eazy-E video of the song with that title, but remembered that women and children read this blog.) We haven’t picked an official date yet, but Sumner and I will go toe-to-toe in January. The topic? Anthropogenic climate change. He’s for, I’m against. Or maybe we’ll talk [...]
Read moreThe House That Sumner Built
For those who don’t follow these things, Mugato would say Scott Sumner is so hot right now. Now even Krugman endorses Sumner’s general worldview. I was reading Brad DeLong’s take on the whole affair, and found this excerpt revealing: By contrast [with the Fed buying assets with new money], the alternative expansionary policy is for [...]
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