ALL BLOG POSTS
On the first page of the Market Monetarist bible it says that we can observe whether monetary policy is getting tighter or looser by watching the markets. From a US perspective US monetary policy is getting tighter when the US dollar strengthens, stock prices drop, bond yields drop and commodity prices fall. Guess what folks - monetary policy is getting a lot tighter today!
The conservative Partido Popular won the general elections in Spain over the week and PP leader Mariano Rajoy will now become Prime Minister in Spain. That makes it three - that is the number of new Prime Ministers in Southern European countries in a couple of weeks.
John Taylor has a comment on NGDP targeting. Let's just say he is not a fan of NGDP targeting.
I have long had a interest in the Icelandic economy and my views on the Icelandic boom-bust are well know.
My good colleague Jens N. Pedersen has today successfully defended his master thesis at the Department on Economics at the University of Copenhagen.
Here is quote of the day:
Professor Nicholas Craft as written a report for the British think tank Centre Forum on "Delivering growth while reducing deficits: lessons from the 1930s". The report is an excellent overview of the British experience during the 1930s, where monetary easing through exchange rate depreciation combined with fiscal tightening delivered results that certainly should be of interest to today's policy makers.