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Yesterday, we wrote a short post on Israeli monetary policy and linked to one page on Israeli monetary conditions to give an example of how the “country pages” in our – Markets & Money Advisory – new monthly flagship publication Global Monetary Conditions Monitor (GMCM) will look like. We expect to publish the first edition in March – coinciding with the launch of our new website.
It is hard to be very critical about the conduct of monetary policy in Israel. I have earlier praised the Bank of Israel (BoI) for essentially being an NGDP targetter and when Stanley Fischer was BoI governor nominal GDP basically was kept on a straight line (see here). And even though Fischer’s successor Karnit Flug initially back in 2014 kept monetary conditions slightly too tight (see here) it now seems like the BoI under Flug’s leadership is back on track.
Did you book your speaker for this year’s seminar or conference? You might as well book me!
The economic suffering of the Greek people is horrendous and it has to stop – interview on TRT World
Yesterday I was interviewed for TRT World about the Greek economy and possible Grexit. Have a look here.
Greece is once again back on the agenda in the European financial markets and we are once again talking about Greek default and even about Grexit. There seems to be no end to the suffering of the Greek economy and the Greek population. I must say that I have a lot of sympathy with the Greeks – they have terrible policy makers and no matter how many austerity measures are implemented there is no signs of any visible improvement either in public finances or in the overall economic performance.
We will soon be launching our new monthly publication Global Monetary Conditions Monitor (GMCM), which will be available from our new ‘research shop’ when we soon launch Markets & Money Advisory’s new website. GMCM will be covering 25-30 countries and overall we will differentiate between what we term the Global Monetary Superpowers (Fed, PBoC, ECB, Bank of Japan, Bank of England and SNB) and other central banks.
Over at Geopolitical Intelligence Service (GIS) where I am a regular commentator I have a comment on Protectionism’s scary rise.
I just stumbled on this interesting discussion between Eugene Fama and Richard Thaler – they talked about whether markets are efficient or not.
Today Donald Trump unveiled his team of economic advisers. Interestingly enough there are very few economists among the economic advisors and only one who can be said to have any free market credentials – the Heritage Foundation‘s chief economist Stephen Moore.