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Pedersen on Price Level Targeting

Pedersen on Price Level Targeting

My good colleague Jens N. Pedersen has today successfully defended his master thesis at the Department on Economics at the University of Copenhagen.

British style Binge-drinking and QE - all we need is Chuck Norris
 "Fed greatly destabilized the U.S. economy"

"Fed greatly destabilized the U.S. economy"

As the European crisis just gets worse and worse I am reminded by what a clever man once said - he is that clever man Ben Bernanke in 2004:

Please listen to Nicholas Craft!

Please listen to Nicholas Craft!

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.

The Tragic year: 1931

The Tragic year: 1931

Benjamin Anderson termed 1931 the "the tragic year" – these are some of the events in that tragic year: 

The Fed can save the euro

The Fed can save the euro

David Beckworth has a excellent comment on the correlation between NGDP in the US and the euro zone.

The Fisher-Friedman-Sumner-Svensson axis
Bank of Canada is effectively targeting the price level

Bank of Canada is effectively targeting the price level

Last week the Bank of Canada and Canadian government announced - not overly surprising - that it will continue its 2% inflation targeting regime.

Reuter's Hayek vs Keynes debate
Irving Fisher and the New Normal

Irving Fisher and the New Normal

A lot of the debate about how to escape the Great Recession is focused on the question of deleveraging and it is often said that we have entered a period of more or less permanent low growth – a “New Normal”. I fundamentally think the idea of the new normal theoretically and empirically flawed.

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