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Here is the Federal Reserve's mandate:
Let's just say it as it is - I was very positively surprised by the massive response to my post on the economic legacy of Hugo Chavez. However, as somebody who primarily wants to blog about monetary policy it is a bit frustrating that I attract a lot more readers when I write about dead authoritarian presidents rather than about my favourite topic - monetary policy.
Today (March 5th) - on the 60 year anniversary of Stalin's death - Venezuelan president Hugo Chavez passed away.
In the Christensen family we believe in efficiency - so we are three generations of Christensen men that have their birthdays over a period of just five days. My dad - grandfather Flemming on March 1 (66 years), my son Mathias yesterday (3 years) and myself today (42 years). So I shouldn't really be blogging - it is my birthday after all and this morning my friend David C in South Korea wrote me on Facebook that I should not think about Market Monetarism today. I normally listens to David's suggestions, but not this time.
I am deeply skeptical about how much we can learn from econometrics, but if you do it right doing econometric studies can sometimes be an worthwhile effort.
Michael Darda is not only a nice guy - he is also clever. But frankly speaking it is a bit boring always being in agreement with him.
This week investors have been spooked by the election outcome in Italy, but frankly speaking is there anything new in that shady characters are doing well in an Italian election? Is there anything new in a hung parliament in Italy? Nope, judging from post-WWII Italian political history this is completely normal. Ok, Italian public finances is a mess, but again that not really news either.