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A personal tribute to Milton Friedman

A personal tribute to Milton Friedman

The Danish free market think tank CEPOS will later in the spring republish the Danish edition of Milton Friedman’s Free to Choose. I am extremely honoured that the good people at CEPOS have asked me to write the preface for “Det Frie Valg” as “Free to Choose” is known in Danish.

Some wise words from Croatia

Some wise words from Croatia

Here is a memorable quote from Darko Oračić - one of my readers in Croatia:

NGDP level targeting and the Fed's mandate

NGDP level targeting and the Fed's mandate

Renee Haltom has an interesting article in the recent edition of Richmond's Fed's magazine Region Focus on "Would a LITTLE inflation produce a BIGGER recover?".

Most people do "national accounting economics" - including most Austrians

Most people do "national accounting economics" - including most Austrians

Yesterday, I did a presentation about  monetary explanations for the Great Depression (See my paper here) at a conference hosted by the Danish Libertas Society. The theme of the conference was Austrian economics so we got of to an interesting start when I started my presentation with a bashing of Austrian business cycle theory - particularly the Rothbardian version (you know that has given me a headache recently).

Yet another argument for prediction markets: "Reputation and Forecast Revisions:  Evidence from the FOMC"

Yet another argument for prediction markets: "Reputation and Forecast Revisions: Evidence from the FOMC"

I am already spamming my readers today so this will not be a long post. But take a look at this working paper - "Reputation and Forecast Revisions: Evidence from the FOMC" by 

Benn & Ben - would prediction markets be of interest to you?

Benn & Ben - would prediction markets be of interest to you?

Benn Steil from the Council on Foreign Relations has an interesting comment on the Federal Reserve's forecasting performance. I don't really want to discuss Benn Steil's views, but rather the fed research he quotes.

Why did the A’s stop winning? Scott has the answer

Why did the A’s stop winning? Scott has the answer

I have been watching Moneyball. It is a great movie, but unlike Scott Sumner and my wife I have actually no clue about movies. However, economics play a huge role in this movie. So that surely made me interested. It is of course very different from Michael Lewis’ excellent book Moneyball, but it is close enough to be an interesting movie even to nerdy economists like myself.

NGDP level targeting - the true Free Market alternative
Exchange rates and monetary policy – it’s not about competitiveness: Some Argentine lessons

Exchange rates and monetary policy – it’s not about competitiveness: Some Argentine lessons

I think Rob who is one my readers hit the nail on the head when he in a recent comment commented that one of the things that is clearly differentiating Market Monetarism from other schools is our view of the monetary transmission mechanism. In my reply to his comment I promised Rob to write more on the MM view of the monetary transmission mechanism. I hope this post will do exactly that.

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