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What Bernanke could say to shield the US from spill-over from Italy

What Bernanke could say to shield the US from spill-over from Italy

This is what Bernanke could (or rather should) say about Italian events:

 News of Berlusconi once again slipped into the financial section
Working paper of the day - Straumann et al on Switzerland, the Great Depression and the gold standard

Working paper of the day - Straumann et al on Switzerland, the Great Depression and the gold standard

A couple of weeks ago I came across a great paper by Peter Rosenkranz, Tobias Straumann and Ulrich Woitek - "A Small Open Economy in the Great Depression: the Case of Switzerland". It is great paper. Here is the abstract:

I don't care who becomes BoJ governor - I want better monetary policy rules

I don't care who becomes BoJ governor - I want better monetary policy rules

UPDATE: I have edited my post significantly - I misread what Scott really said. That is the result of writing blog posts very early in the morning after sleeping too little. Sorry Scott...

Bob Murphy on Minimum wages and a textbook graph to illustrate it

Bob Murphy on Minimum wages and a textbook graph to illustrate it

One of the unfortunate consequences of this crisis is increased political backing for "reforms" that have negative impact on aggregate supply. In the US in the 1930s it was the horrible National Industrial Recovery Act (NIRA) and in today's US it is higher minimum wages. I find it incredible that anybody seriously would question the negative supply side consequences of higher minimum wages. This is not a political issue, but a simple question of understanding the laws of supply and demand.

Is Norges Bank targeting nominal GDP?

Is Norges Bank targeting nominal GDP?

Is the Norwegian central bank - Norges Bank - targeting nominal GDP? Probably not, but this presentation by Norges Bank governor Øystein Olsen is nonetheless interesting.

'The Myth of Currency War'

'The Myth of Currency War'

I know that most of my readers must be sick and tired of reading about my view on 'currency war'. Unfortunately I have more for you. My colleague Jens Pedersen and I have written an article for the Danish business daily Børsen. The piece was published in today's edition of Børsen. It is in Danish, but you can find an English translation of the article here.

The Bulgarian government collapses - tight money and a negative supply shock in the end did it
Don't tell me the 'currency war' is bad for European exports - the one graph version

Don't tell me the 'currency war' is bad for European exports - the one graph version

It is said that Europe is the biggest "victim" in what is said to be an international 'currency war' (it is really no war at all, but global monetary easing) as the euro has strengthened significantly on the back of the Federal Reserve and Bank of Japan having stepped up monetary easing.

Brad DeLong on the Sumner Critique and why the fiscal multiplier is zero

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