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Oil-exporters need to rethink their monetary policy regimes

Oil-exporters need to rethink their monetary policy regimes

I started writing this post on Monday, but I have had an insanely busy week - mostly because of the continued sharp drop in oil prices and the impact of that on particularly the Russian rouble. But now I will try to finalize the post - it is after on a directly related topic to what I have focused on all week - in fact for most of 2014.

Monetary policy according to a German lawyer

Monetary policy according to a German lawyer

This is from Bloomberg:

Bloomberg repeats the bond yield fallacy (Milton Friedman is spinning in his grave)
The story of a remarkably stable US NGDP trend

The story of a remarkably stable US NGDP trend

Today revised US GDP numbers for Q3 were released. While most commentators focused on the better than expected real GDP numbers I am on the other hand mostly impressed by just how stable the development in nominal GDP is. Just take a look at the graph below.

Asymmetrical shocks in a currency union, the Crime of 1873 and the of a guy called Sven Persson

Asymmetrical shocks in a currency union, the Crime of 1873 and the of a guy called Sven Persson

I have never been particularly interested in genealogy, however, that has changed after my dad recently sent me a picture of Sven Persson. Sven Persson was my great-great grandfather.

Great, Greater, Greatest - Three Finnish Depressions

Great, Greater, Greatest - Three Finnish Depressions

Brad DeLong has suggested that we rename the Great Recession the GreatER Depression in Europe as the crisis in terms of real GDP lose now is bigger in Europe than it was it during the Great Depression.

Mussolini's great monetary policy failure

Mussolini's great monetary policy failure

Benito Mussolini is known for having been a horrible warmongering fascist dictator. However, he was also responsible for a major failed monetary experiment - the so-called Battle of the Lira.

Italy's Greater Depression - Eerie memories of the 1930s
Turning the Russian petro-monetary transmission mechanism upside-down

Turning the Russian petro-monetary transmission mechanism upside-down

Big news out of Moscow today - not about the renewed escalation of military fighting in Eastern Ukraine, but rather about Russian monetary policy. Hence, today the Russian central bank (CBR) under the leadership of  Elvira Nabiullina effectively let the ruble float freely.

The fall of the Berlin Wall and the end of global extreme poverty

The fall of the Berlin Wall and the end of global extreme poverty

Today it is 25 years ago the Berlin Wall came down. It has become the symbol of the end of communism and is surely something which should be celebrated.

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