tag:blogger.com,1999:blog-5713178645208582139.post7930217362705917045..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: The Deflation Threat of 2009 vs. The Deflation Threat of 2003David Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5713178645208582139.post-31179996312620918712009-09-21T19:39:33.102-05:002009-09-21T19:39:33.102-05:00Thanks for the links Cangrande. I trust you have ...Thanks for the links Cangrande. I trust you have seen William White's work at the BIS. He has a number of great pieces, but I especially liked his paper titled "Is Price Stability Enough?" (http://www.bis.org/publ/work205.pdf) <br /><br />Also, I would point out George Selgin's "Less the Zero" (http://www.amazon.com/Less-Than-Zero-Falling-Growing/dp/0255364024)<br />David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-79802927643999812732009-09-21T13:41:30.806-05:002009-09-21T13:41:30.806-05:00Lorenzo Bini Smaghi, Italian Member of the ECB'...Lorenzo Bini Smaghi, Italian Member of the ECB's Executive Board ( http://www.ecb.int/ecb/orga/decisions/html/cvbinismaghi.en.html ), seems to share your view about how Alan Greenspans crusade against deflation in 2003/2004 set the stage for our contemporary economic disaster.<br /><br />In an article (in German) in the Financial Times (Deutschland) from April 19 under the heading "Cangrandehttps://www.blogger.com/profile/15886612960494544505noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-77095444090861508652009-08-08T02:36:54.931-05:002009-08-08T02:36:54.931-05:00Not being an economist myself, I have nevertheless...Not being an economist myself, I have nevertheless been wary about the deflation-hysterics which has lately been fuelled by media reports about (slightly) falling prices.<br />When one considers [with Prof. …. and others] overheated commodity-prices (in particular crude oil) as one of the driving forces behind our economic calamity, it sounds strange to hear some voices deplore a modest decline Cangrandehttps://www.blogger.com/profile/15886612960494544505noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-47440080803587232412009-06-23T09:28:32.183-05:002009-06-23T09:28:32.183-05:00ECB:
Interesting...I like that this alternative m...ECB:<br /><br />Interesting...I like that this alternative measure of the output gap actually shows a postive value during the height of the housing boom.David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-39431895272044851302009-06-23T08:54:02.120-05:002009-06-23T08:54:02.120-05:00On a technical note, the output gap may not be as ...On a technical note, the output gap may not be as great as that graph shows. According to the San Francisco Fed, it may only be -2%!!<br />See http://blogs.wsj.com/economics/2009/06/15/fed-study-raises-doubt-about-economys-slack/ECBnoreply@blogger.com