tag:blogger.com,1999:blog-5713178645208582139.post1641000995607161640..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: How to Get What Paul Krugman Really Wants David Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-5713178645208582139.post-48808776633656560092014-05-28T17:24:41.913-05:002014-05-28T17:24:41.913-05:00Yes, but I don't see what is the difference......Yes, but I don't see what is the difference...www.MiguelNavascues.comhttps://www.blogger.com/profile/00880006105532291958noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-16809073976655557882014-05-27T18:35:42.060-05:002014-05-27T18:35:42.060-05:00Great blogging. Kudos to Soltas but Marcus Nunes h...Great blogging. Kudos to Soltas but Marcus Nunes has blogged about de facto NGDP targeting for years. <br />I prefer NGDPLT targeting. But Krugman's higher inflation target might do thecsame if during robust growth central banks brought inflation below target...like the Fed is doing noe except without the robust growth.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-67132155873272103992014-05-27T17:19:47.780-05:002014-05-27T17:19:47.780-05:00David, like the US during the "Great Moderati...David, like the US during the "Great Moderation" Israel got "lucky". The difference is that it had "extended guarantee":<br />http://thefaintofheart.wordpress.com/2014/04/25/sometimes-you-get-lucky-the-case-of-israel/João Marcushttps://www.blogger.com/profile/13658264244033012660noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-67837554596513264252014-05-27T13:44:00.064-05:002014-05-27T13:44:00.064-05:00I think this figure reveals more: http://research....I think this figure reveals more: http://research.stlouisfed.org/fred2/graph/?g=BISDavid Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-2482795760799449492014-05-27T13:40:57.819-05:002014-05-27T13:40:57.819-05:00Not sure what your figure shows since it only show...Not sure what your figure shows since it only shows growth rates, not actual amount. So it is hard to know how important those loans were to the economy. I went digging and found this. Does not seem like a big deal: http://research.stlouisfed.org/fred2/graph/?g=BIMDavid Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-88115946276800014902014-05-27T13:30:22.959-05:002014-05-27T13:30:22.959-05:00Too beautiful to be true. Israel got a lot of exte...Too beautiful to be true. Israel got a lot of external credit during the crisis. <br />http://research.stlouisfed.org/fredgraph.png?hires=1&type=image/png&chart_type=line&recession_bars=on&log_scales=&bgcolor=%23e1e9f0&graph_bgcolor=%23ffffff&fo=verdana&ts=12&tts=12&txtcolor=%23444444&show_legend=yes&show_axis_titles=yes&drp=0&cosd=www.MiguelNavascues.comhttps://www.blogger.com/profile/00880006105532291958noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-35299116993586356452014-05-27T12:41:16.335-05:002014-05-27T12:41:16.335-05:00Thanks Nick. Yes, how many different ways can we p...Thanks Nick. Yes, how many different ways can we pitch this?<br /><br />Thanks for catching the error. It has been fixed. David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-17135669475494459572014-05-27T12:26:49.646-05:002014-05-27T12:26:49.646-05:00Good post. Nice different way of looking at it.
W...Good post. Nice different way of looking at it.<br /><br />Word missing: "Fortunately, there is a relatively [easy?] way for a central bank to accomplish this task:..."Nick Rowehttps://www.blogger.com/profile/04982579343160429422noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-57236583041299872592014-05-27T11:43:50.587-05:002014-05-27T11:43:50.587-05:00The graph implies that by allowing inflation to te...The graph implies that by allowing inflation to temporarily move above the desired trend, it prevented real-gDp from free-falling. That evidence would be a slam dunk for targeting nominal-gDp. But the math is wrong. Roc's in real-gDp aren't independent of roc's in inflation. And because velocity fell, there must be other factors at work. Salmo Truttahttps://www.blogger.com/profile/13910212017849902362noreply@blogger.com