tag:blogger.com,1999:blog-5713178645208582139.post6817101794733739017..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: Fed Nominees, the Natural Interest Rate, and Safe AssetsDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5713178645208582139.post-51178510368460295292012-05-15T23:17:13.335-05:002012-05-15T23:17:13.335-05:00Yichuan,
I focus on expected NGDP because that it...Yichuan,<br /><br />I focus on expected NGDP because that it the shaping of expectations that matter for current spending decisions.David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-8840797407160328352012-05-13T18:02:32.276-05:002012-05-13T18:02:32.276-05:00Benjamin,
I don't think Vitter is stupid. Li...Benjamin,<br /><br />I don't think Vitter is stupid. Like many other hard-money advocates, he probably is sincere in his beliefs and hasn't had much, if any, exposure to alternative money views like ours. If he got some exposure to market monetarism, I bet he would better appreciate the points we are making. Maybe he could invite one of us to present to him.<br /><br />I would die to David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-18535173032748938262012-05-13T13:14:28.375-05:002012-05-13T13:14:28.375-05:00PS Is Vitter the most stupid man alive?PS Is Vitter the most stupid man alive?Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-2128854245539409362012-05-12T21:57:31.518-05:002012-05-12T21:57:31.518-05:00Excellent blogging.
I wonder if the core of the G...Excellent blogging.<br /><br />I wonder if the core of the GOP just wants Obama to lose, and so they are honking about federal deficits and loose money now.<br /><br />Don't forget, when Reagan was present, Don Regan, Treasury Secy lambasted Volcker and called for Fed powers to be transferred to the Treasury. Volcker was penurious, he said. The WSJ went along on the attack on Volcker's Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-82577181101441272302012-05-12T18:43:16.367-05:002012-05-12T18:43:16.367-05:00David, why do you use the forecast of NGDP instead...David, why do you use the forecast of NGDP instead of the actual NGDP growth over the course of those 10 years? Admittedly, the observation doesn't really change anything if the window is the past 20 years, but I found that the correlation between NGDP growth and bond yields were decidedly negative in the early 1970's. <br /><br />I drew up the graph and made some ancillary observationsYichuan Wanghttps://www.blogger.com/profile/15398092824604478764noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-87009993796183811962012-05-12T00:24:58.357-05:002012-05-12T00:24:58.357-05:00Senator Vitter should also note that by preventing...<i><br />Senator Vitter should also note that by preventing the Fed from doing more, he is effectively creating a larger cyclical budget deficit and opening the door for more government intervention. Conservatives do not realize it, but they need more (systematic) monetary policy if they want less government involvement in the economy. <br /><br /></i> <br /><br />thats exactly it: ngdp targetingdwbhttps://www.blogger.com/profile/02799793864068767226noreply@blogger.com