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Horwitz, McCallum and Markets (and nothing about Rush)

Horwitz, McCallum and Markets (and nothing about Rush)

Alex Salter has made a forceful argument that there are strong theoretical similarities between Market Monetarist thinking and Austrian School Monetary Equilibrium Theorists (MET). I on my part have noted that METs like Steven Horwitz have similar policy recommendations as Market Monetarists - particularly NGDP targeting.

Market Monetarism - now on Wikipedia

Market Monetarism - now on Wikipedia

Believe it or not - "Market Monetarism" i now on Wikipedia. I have no clue who is behind it, but as far as I can read most of the text makes perfectly good sense. That said, it needs a bit more work...

Reagan supply siders = market monetarists?

Reagan supply siders = market monetarists?

I have noticed that a increasing number of 1980s US supply siders are coming out views on US monetary policy which is very close to the Market Monetarist views. This is not really surprising if one studies what the supply siders were saying in the 80s, but it is nonetheless in stark contrast to the core views of today's GOP.

Rush, Rush, Market Monetarists, Steven Horwitz is your friend

Rush, Rush, Market Monetarists, Steven Horwitz is your friend

Do you remember the Canadian rock band Rush? Steven Horwitz does. Steven does not only like odd Canadian rock, but he is also a clever Austrian school economist. Reading Alex Salter's guest blog ("An Austrian Perspective on Market Monetarism") imitiately made me think of Steven.

Guest blog: An Austrian Perspective on Market Monetarism
Beckworth's journey - we travel together

Beckworth's journey - we travel together

David Beckworth has a blog post on his "Journey into Market Monetarism" and comments on my working paper on Market Monetarism.

Monetary policy and banking crisis - lessons from the Great Depression

Monetary policy and banking crisis - lessons from the Great Depression

As the Euro zone crisis continues to escalate and European policy makers are trying to avoid that the Greek sovereign debt crisis develops into a European wide banking crisis it might be an idea to study history. The Great Depression gives us many insides to what to do and what not to do to avoid crisis.

Gideon Gono, a time machine and the liquidity trap

Gideon Gono, a time machine and the liquidity trap

Here is a quote from a random article from the financial media in 2008:

Believe it or not, but Greenspan makes a lot of sense

Believe it or not, but Greenspan makes a lot of sense

I have often been critical about Alan Greenspan's economic thinking, but listen to this Interview on CNBC. It is pretty good. Greenspan talks about the international financial linkages - particularly between the US and the euro zone. He makes a lot of sense (other than some odd cultural references, which the rather uneducated reporters just go along with...)

Market Monetarist Methodology – Markets rather than econometric testing

Market Monetarist Methodology – Markets rather than econometric testing

When I wrote my book on Milton Friedman (sorry it is in Danish…) a decade ago I remember that the hardest chapter to write was the chapter on Friedman’s methodological views. It ended up being a tinny little chapter and I was never satisfied with it. The main reason was that even though I was and continue to be a Friedmanite in my general (macro) economic thinking I did not agree with Friedman methodological views.

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