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Riksbanken moves close to the ZLB - Now it is time to give Bennett McCallum a call

Riksbanken moves close to the ZLB - Now it is time to give Bennett McCallum a call

In a very surprising move the Swedish Riksbank this morning cut its key policy rate by 50bp to 0.25%. It was about time! The Riksbank has for a very long time undershot its 2% inflation target and inflation expectations have consistently been below 2% for a long time as well.

Immigration is saving the US economy - some telling graphs

Immigration is saving the US economy - some telling graphs

Apparently monetary theory is not sexy - or at least when I write about something else than monetary issues then I get more comments and activity on my blog than when I focus on what I really care about (monetary policy as you know...)

Sticking to its Knitting: Central bankers should forget about "financial stability"

Sticking to its Knitting: Central bankers should forget about "financial stability"

These days central bankers seem more concerned about "financial stability" than ever before - and even more concerned about financial stability than nominal stability. These things go in cycles. After 1929 central bankers became terribly concerned about financial stability. Then again in the 1990s after the Mexican crisis in 1994 and the Asian crisis in 1997 and then after the bursting of the "IT bubble" in 2001.

Milton Friedman's answer to a student at the "CEPOS Akademi"

Milton Friedman's answer to a student at the "CEPOS Akademi"

This morning I had the pleasure of doing a presentation on "Milton Friedman, Market Monetarism and the Great Recession" (and a bit on internet-Austrians) for a group of clever young students at the CEPOS Akademi in Copenhagen. CEPOS Akademi is essentially the Danish Free Market think tank CEPOS's summer university.

The optimal immigration policy - just open the borders

The optimal immigration policy - just open the borders

My blog is mostly about monetary policy matters. However, if I one day would stop writing about monetary policy I think there are two other topics I would focus on. The one is on the need to end the global war on drugs and the second is immigration reform.

The Fisher-Hetzel Standard: A much improved "gold standard"

The Fisher-Hetzel Standard: A much improved "gold standard"

Anybody who follow my blog will know that I am not a great fan of the gold standard or any other form of fixed exchange rate policy. However, I am a great fan of policy rules that reduce monetary policy discretion to an absolute minimum.

Scott Sumner's Adam Smith Lecture

Scott Sumner's Adam Smith Lecture

Last week Scott Sumner gave a lecture in London on the causes of the Great Recession and Market Monetarism. I had the honour of introducing Scott and you might me hear interrupting Scott near the end of the presentation. Scott made a lot more sense than I did.

Bob Hetzel's great idea

Bob Hetzel's great idea

As I have promised earlier I will in the coming weeks write a number of blog posts on Robert Hetzel's contribution to monetary thinking celebrating that he will turn 70 on July 3. Today I will tell the story about what I regard to be Bob's greatest and most revolutionary idea. An idea which I think marks the birth of Market Monetarism.

Sumner, Nunes and Christensen in London

Sumner, Nunes and Christensen in London

Scott Sumner has been speaking at the Adam Smith Institute tonight. I had the honour to introduce Scott. Adam Smith Institute will surely post Scott's presentation soon.

Paul Krugman puts the IMF straight (and it is not what you think!)

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