tag:blogger.com,1999:blog-5713178645208582139.post5057825374940857250..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: It's Time for the Fed to Move Beyond Inflation Targeting (and Officialy Do what Israel and Australia are Unofficially Doing)David Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5713178645208582139.post-56133300807237527622014-07-15T09:53:44.896-05:002014-07-15T09:53:44.896-05:00While it's less direct in the US, it should st...While it's less direct in the US, it should still behave similarly, though with perhaps less direct correlation in time and effect.<br /><br />The primary immediate effect is upon market psychology via setting expectations, consistent with the 'Chuck Norris' effect discussed by Lars Christiansen, David, and several other MM theorists.<br /><br />The FED doesn't need a direct JLHhttps://www.blogger.com/profile/04468377270215680989noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-27921710119626536602014-07-13T11:06:28.836-05:002014-07-13T11:06:28.836-05:00This proposal looks very classical, as quantitativ...This proposal looks very classical, as quantitative theory of money (MV = PQ), where interest rates didn't get the importance they now have or the inflation targeting wasn't explicit on that sort of basic manuals. I agree that dealing with money supply, and checking the demand of money is an useful complementary tool of monetary policy (it actually has been in many countries), but to José-Manuel Martin Coronadohttps://www.blogger.com/profile/03344580094499036179noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-66249695430477869102014-07-13T11:05:59.175-05:002014-07-13T11:05:59.175-05:00This proposal looks very classical, as quantitativ...This proposal looks very classical, as quantitative theory of money (MV = PQ), where interest rates didn't get the importance they now have or the inflation targeting wasn't explicit on that sort of basic manuals. I agree that dealing with money supply, and checking the demand of money is an useful complementary tool of monetary policy (it actually has been in many countries), but to José-Manuel Martin Coronadohttps://www.blogger.com/profile/03344580094499036179noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-45205324063342968592014-07-12T23:47:14.561-05:002014-07-12T23:47:14.561-05:00Excellent blogging.Excellent blogging.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-53410928332495118102014-07-11T15:22:14.610-05:002014-07-11T15:22:14.610-05:00interesting post and paper, and i get the idea.. b...interesting post and paper, and i get the idea.. but operationally i'm not sure how it gets carried out? In both Australia and Israel central bank rates had a direct feedback loop into consumer lending mechanisms and loans directly on household balance sheets..something both the ECB and FED lack. cidielhttps://www.blogger.com/profile/16087543940772252902noreply@blogger.com