ALL BLOG POSTS
Over the past five years Market Monetarists have gotten a reputation for always being dovish in terms of monetary policy. The Market Monetarists have day-in and day-out been pushing for monetary easing in the US, the UK and the euro zone. So our reputation is correct in the sense that we – the Market Monetarists – in general have favoured a more dovish monetary stance both in the US and in Europe than has been implemented by central banks.
I must admit that I am a bit of a "serial shopper" when it comes to buying books on Amazon. Today I (pre) ordered a book I have been waiting for some time - “Fragile by Design: Banking Crises, Scarce Credit,and Political Bargains” by Charles Calomiris and Stephen Haber. I have written about the book before:
This is from the Kenyan daily The Nation:
This is the new Iranian president Hassan Rouhani on Twiiter (on November 26):
Central bankers around the world talk about monetary policy as being “unconventional” when they undertake “quantitative easing” to expand the money base. This term frustrates me a great deal as there is nothing unconventional about the fact that the central bank is changing the money base.
Marcus Nunes has two extremely illustratative graphs in his latest blog post. Just take a look here:
I had an up-ed in today's edition of the Danish Business daily Børsen. Here is the English translation:
I was in Sweden last week and again yesterday (today I am in Norway). My trips to Sweden have once again reminded me about the dangers of conducting monetary policy with interest rates at the Zero Lower Bound (ZLB). The Swedish central bank - Riksbanken - has cut is key policy rate to 1% and is like to cut it further to 0.75% before the end of the year so we are inching closer and closer to zero.