Chuck Norris on monetary policy #1
In the coming time I will pay tribute to the great Chuck Norris by analyzing the monetary policy implications of some well-known facts and quotes from the great hero. These "facts" all come from www.chucknorrisfacts.com "Chuck Norris does not earn money,he prints it" Well Chuck, so does central banks and that is why we can always avoid deflation, increase inflation and get whatever growth rate of nominal GDP we would like. But not even Chuck can increase real GDP growth in the long run by printing money. Not even Chuck can defeat the long run vertical Phillips curve.