TheMoneyIllusion

A slightly off-center perspective on monetary problems.

Most Recent
Blogs are not available

Two views of the Phillips Curve

November 21, 2019

Facebook Twitter Google+ LinkedIn The standard (Keynesian) view of the Phillips Curve is that a strong economy leads to higher inflation. If I’m not mistaken, Milton Friedman reversed the causation, arguing that higher than expected inflation led to a stronger economy: There is always a temporary trade-off between inflation and unemployment; there is... Read More >>
Other Posts

Don’t boycott artists


Facebook Twitter Google+ LinkedIn The NYT has an article discussing a London exhibition of paintings by Paul Gauguin: Is It Time Gauguin Got... Read More >>

Ramin Toloui on QE


Facebook Twitter Google+ LinkedIn David Beckworth directed me to a new paper by Ramin Toloui, which examines the various transmission mechanisms for... Read More >>

Could’ve fooled me


Facebook Twitter Google+ LinkedIn Here’s the NYT: The cumulative impact of a decade of austerity measures and Labour shifting the political center of... Read More >>

Bartleby the central banker


Facebook Twitter Google+ LinkedIn The Reserve Bank of Australia has delivered 28 years of solid growth in NGDP. Unfortunately, its recent performance... Read More >>

Instrumental beliefs, prediction and reality


Facebook Twitter Google+ LinkedIn Note:  Feel free to skim past the philosophy to the discussion of monetary policy at the end. In a... Read More >>

Recessions in a post-inflation world


Facebook Twitter Google+ LinkedIn The Financial Times has an article pointing out that inverted yield curves are not a foolproof predictor of... Read More >>

UK endorsements


Facebook Twitter Google+ LinkedIn Liberal Democrats > Conservatives >>>>>>> Labour In England and Wales vote for Liberal Dems where they have a chance,... Read More >>

Asking the wrong question


Facebook Twitter Google+ LinkedIn David Beckworth recently directed me to a paper by Gauti Eggertsson and Kevin Prouix, discussing how much QE... Read More >>

How do conservatives feel about this?


Facebook Twitter Google+ LinkedIn This survey caught my eye: Western conservatives tend to dislike Islamic fundamentalism. Western conservatives tend to dislike atheism. So here’s a... Read More >>