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Kurt Schuler on "Hong Kong's durable currency board"

Kurt Schuler on "Hong Kong's durable currency board"

Over at freebanking.org Kurt Schuler has a new post on "Hong Kong's durable currency board".

Doug Irwin on Cordell and the case for optimism

Doug Irwin on Cordell and the case for optimism

I am presently spending my time vacation in the Christensen vacation home in Southern Sweden. The weather is fantastic and family is doing equally fantastic so I really don't have any reason to be pessimistic about life - and I am not, but do find myself being increasingly pessimistic the rise in protectionist tendencies around the world and therefore as somebody who is an admirer of Bastiat I also fear that we are moving toward a less peaceful world.

A new agenda for Free Banking research

A new agenda for Free Banking research

When presented with the idea of Free Banking - that is private money issuance - most people will shake their head and even most free market oriented think the idea of private money is insane or at least highly unrealistic. However, the fact is that money is not a government invention. Money developed spontaneously way before government got involved and there is no reason to believe that money could not be provided by the market rather than by governments in the future.

JPIrving on why not to fear the fiscal cliff
Google Trends could provide a neo-narrative approach to monetary policy analysis

Google Trends could provide a neo-narrative approach to monetary policy analysis

If one go through the huge empirical literature on the real and nominal effects of monetary policy one will realize that most of this research is based on extremely simple and often very wrong measures of monetary policy.

There is no 'Trump rally' in the US stock market

There is no 'Trump rally' in the US stock market

And that might well be the case, but if we look at a little bit longer period then it is hard to argue that something special is going on in the US stock

More on the valuation of the US stock market

More on the valuation of the US stock market

I have gotten very nice feedback on my post on why there is no bubble in the US stock market and a couple of great questions.

Illustrating the usefulness of the AS/AD framework - Retelling 10 years of Danish economic history

Illustrating the usefulness of the AS/AD framework - Retelling 10 years of Danish economic history

I have increasingly come to the conclusion come to the conclusion that you can tell most macroeconomic stories within a simple AS/AD framework - or at least the business cycle stories. I really always thought so, but it is only recently that I have come to the conclusion that there is really no reason to make any excuses for thinking like this.

What Animal spirits? Its monetary disorder my friends...

What Animal spirits? Its monetary disorder my friends...

If one follows the financial media on a daily basis as I do there is ample room to get both depressed and frustrated over the coverage of the financial markets. Often market movements are described as being very irrational and the description of what is happening in the markets is often based on an "understanding" of economic agents as somebody who have huge mood swings due to what Keynes terms animal spirits.

Monetary policy works with short and not too variable leads

Monetary policy works with short and not too variable leads

US Stock markets plumments today. Here is why:

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