tag:blogger.com,1999:blog-5713178645208582139.post1895042497842486819..comments2024-03-17T03:26:42.785-05:00Comments on Macro Musings Blog: China vs the Trilemma, Price Level Path, Balance Sheet Confusion, and FOMC DebatesDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5713178645208582139.post-59015130869952967542017-06-08T07:15:47.122-05:002017-06-08T07:15:47.122-05:00wonderful posts thanks for sharing this informatio...wonderful posts thanks for sharing this information with us It's Very helpful!<br /><br /><br /><a href="https://www.golden-slot.com/" rel="nofollow">goldenslot slot games</a><br /><a href="http://www.gtzlg.com/" rel="nofollow">gclub casino</a><br /><a href="http://www.gtzlf.com/" rel="nofollow">gclub</a><br /><br />Anonymoushttps://www.blogger.com/profile/07159047406612580657noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-55886694404293546602017-05-31T01:38:21.670-05:002017-05-31T01:38:21.670-05:00Great post.Great post.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-23745623108467480152017-05-29T10:01:51.922-05:002017-05-29T10:01:51.922-05:00Hi David,
I agree that's a legitimate argumen...Hi David,<br /><br />I agree that's a legitimate argument. If that is indeed the expectation then movements away from that expectation will create misallocations. <br />Question is, are new expectations being made given the new trend? If so, then a movement back to 2% is possibly equally problematic. <br />Don't know the right answer.<br />Ultimately my preference would be for a zero Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-26295632139188569502017-05-28T19:51:19.912-05:002017-05-28T19:51:19.912-05:00Pete, so what is your theory of where the price le...Pete, so what is your theory of where the price level trend should be? <br /><br />Bullards concern, I believe, is that if the people made economic decisions under the expectation that price level would rise on average 2% and then an unexpected undershooting occurs it wrecks havoc on their plans. David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-12162667181554050802017-05-27T09:38:04.703-05:002017-05-27T09:38:04.703-05:00I'm still waiting for a reason to have a price...I'm still waiting for a reason to have a price trend above zero. Moreover, any price trend that is expected should be as good as any other, according to today's rational expectations theory. Not sure what Bullard is worried about. Even if price inflation drives output (there's no empirical connection), it is only a short-run phenomenon and adjustments will be made quickly.<br />Still Anonymousnoreply@blogger.com