ALL BLOG POSTS
I am continuing my reporting on my survey of monetary thinkers' book recommendations for students of monetary matters. The next "victim" is Scott Sumner and lets jump right into it. Here is Scott's book list:
It is sunny this morning in Skyrup and we are planning a daytrip to Kristianstad. The Danish king Christian IV founded the city of Kristianstad in 1614. We might be in Sweden, but Kristianstad still has its old Danish name and the Danish heritage is visible everywhere - including in the city’s Coat of Arms. Notice the C4 for Christian IV. Notice also the Swedish colours. This is true Skåne - combining Danish and Swedish. I like that.
It is vacation time for the Christensen family. We are in the Christensen vacation home in Skåne (Southern Sweden) and my blogging might reflect that.
As I wrote in my post on Milton Friedman's "Money Mischief" yesterday I have asked a number of "monetary thinkers" to make a list of around five (or so) books on monetary matters they would recommend for students of economics. I had initially just thought I would make a list of books based on the survey, but it turns out that there is a lot more material than I really had thought about. So I will instead do a number of posts on the book recommendations.
I am in the process of surveying a number of "monetary thinkers" about their favourite books on monetary matters. I hope to do a number of posts on the survey results.
It might be a surprise to most people but one of the fastest growing economies in the world over the last 10-15 years has been Angola. A combination of structural reforms and a commodity boom have boosted growth in the oil-rich African country. However, Angola is, however, at a crossroad and the future of the boom might very well now be questioned.
The Nikkei had a 20% set-back, but is now surely making a major comeback. This morning Nikkei is up 3.5%. The rally continues supported by very strong macroeconomic numbers and you have to be very suborn to continue to claim that monetary easing is not working in Japan (I wonder what Richard Koo will be saying...)
Bank of Japan governor Haruhiko Kuroda must feel relieved as attention has turned away from sharply rising bond yields and a sharp set-back in the Nikkei to bad Federal Reserve communication and market turmoil in China. And I am sure that he like me have noticed that Nikkei has outperformed most major global stock markets in recent weeks. That could seem like a vindication of BoJ's policies and to extent it is. However, I would cautious against too much optimism. Kuroda still needs to work on this communication.
Until recently the global financial markets were on an one-way trip to recovery. Basically since the Federal Reserve in September implicitly announced the Bernanke-Evans rule investors have been betting on an US economic recovery - higher real and nominal GDP growth - and the Bank of Japan's decisive actions to implement a 2% inflation target also have helped the sentiment. However, the picture has become a lot more confusing in recent weeks as turmoil has returned to the global financial markets.