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I don't know the answer to the the question in the headline, but here is from the Financial Times:
A couple ofweeks ago I visited Lithuania and around a month ago I was in Ireland. Both countries have been through boom and bust and both countries are still not out of the crisis. Tomorrow I fly to another crisis hit place - Dubai. This has reminded me about an issue that have been on mind my mind for some time. Can national stereotyping explain why countries are hit by crisis? My clear answer is no and that should be the answer of most intelligent people. However, surprisingly often both mainstream media and many economists would hint (or say directly) that national characteristics can explain why X or Z country has been hit by crisis.
Over the last couple of days I have done a couple of posts on the work of David Eagle (and Dale Domian). I guess that there still are a few posts that could be written on this topic. This is the next one.
THIS IS A GUEST POST By Arash Molavi Vasséi
I am continuing my mini-review of the research done by Dale Domian and David Eagle. The next paper in the “series” is a truly excellent paper on an empirical investigation of the impact of different monetary policy targets (inflation targeting, Price Level Targeting and Nominal Income Targeting) on the speed of recovery in the US economy.
"The euro project was flawed from the start and the current generation of European leaders has failed to address its fundamental problems, Jacques Delors, the architect of the single currency, declares today" - this according to an interview in the Daily Telegraph.
This morning when I was looking for something else on the internet I by coincidence came across Dr. David Eagle’s website. Dr. Eagle is an Associate Professor of Finance at the Eastern Washington University.
Here is Ambrose Evans-Pritchard at the Daily Telegraph:
Ok, there is no reason to hide it - I love George Selgin or at least his thinking on monetary theory. George of course is the source to go to on Free Banking theory and history (ok, Larry White is also pretty cool...) and he is of course an expert and a true pioneer on nominal income targeting. His work on the so-called Productivity Norm should be standard reading for anybody with the slightest interest in monetary theory. And now George is out with a comment on NGDP targeting. It is primarily a response to John Taylor's recent critique of NGDP targeting.