Tuesday, March 6, 2012

Scott Sumner explains market monetarism


Read it at The Money Illusion
What is market monetarism?
by Scott Sumner
(h/t Mark Thoma)

Still clueless.

3 comments:

Matt Franko said...

"current AD and NGDP are determined by changes in the future expected path of NGDP."

http://www.youtube.com/watch?v=vzs0oUUFWmM&feature=related

Anonymous said...

My comment on Sumner's post.

http://www.themoneyillusion.com/?p=13353&cpage=3#comment-140460

The whole idea of a "hot potato effect" in the market for bank credit is just absurd.

Leverage said...

Central banks can't target NGDP.

Confidence fairy tales won't do it (but they could create a massive run in the commodity market because "hyperinflationz!1!!!11!!1".