Here are some interesting pieces on monetary policy from past few weeks that caught my attention:
1. Mike Konczal has been on a tear lately with his calls for more aggressive monetary policy. Here he interviews Joe Gagnon about QE2's record and what QE3 might look like. Here he shows that FDR was actually quite astute about price level targeting during the early 1930s.
2. Edward Harrison breaks down the differences between QE1, QE2, and Q3.
3. The BIS annual report gets a Jiu-Jitsu takedown from Scott Sumner, Martin Wolf, and Paul Krugman.
4. Marcus Nunes has come to the conclusion that maybe the academic Ben Bernanke was never really all that different than the central banker Ben Bernanke.
5. The last FOMC meeting and the follow-up press conference have defeatism written all over them. Ryan Avent is disappointed and Paul Krugman sees Fed cowardice.
6. An excellent and thorough article on Milton Friedman's views and how they relate to recent Fed actions by Edward Nelson. Everything from excess money demand to the portfolio channel of monetary policy is covered. I plan to do a post on this article later.
7. Nick Rowe discusses the macroeconomics of doing nothing.
3. The BIS annual report gets a Jiu-Jitsu takedown from Scott Sumner, Martin Wolf, and Paul Krugman.
4. Marcus Nunes has come to the conclusion that maybe the academic Ben Bernanke was never really all that different than the central banker Ben Bernanke.
5. The last FOMC meeting and the follow-up press conference have defeatism written all over them. Ryan Avent is disappointed and Paul Krugman sees Fed cowardice.
6. An excellent and thorough article on Milton Friedman's views and how they relate to recent Fed actions by Edward Nelson. Everything from excess money demand to the portfolio channel of monetary policy is covered. I plan to do a post on this article later.
7. Nick Rowe discusses the macroeconomics of doing nothing.
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