tag:blogger.com,1999:blog-5713178645208582139.post8109487982231330660..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: Monetary Policy at the ZLB: Three Quasi-Natural ExperimentsDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-5713178645208582139.post-67239590905897939392013-09-28T13:21:14.978-05:002013-09-28T13:21:14.978-05:00David,
A commenter at The Money Illusion implicitl...David,<br />A commenter at The Money Illusion implicitly raised the issue that Japanese RGDP growth rates are more volatile than the growth rates of the larger currency areas (which are also less open to extra-currency area trade) to which they are being compared. <br /> <br />So I did a systematic analysis in to see how significant the first half of the year results were.<br /> <br />The year Mark A. Sadowskihttps://www.blogger.com/profile/08259309059705236763noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-35403978083962400602013-09-26T13:30:54.911-05:002013-09-26T13:30:54.911-05:00David,
Thanks, I noticed.David,<br />Thanks, I noticed.Mark A. Sadowskihttps://www.blogger.com/profile/08259309059705236763noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-32592758690985411172013-09-26T11:35:34.552-05:002013-09-26T11:35:34.552-05:00Thanks Mark. I linked to your earlier comments in ...Thanks Mark. I linked to your earlier comments in the post.David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-58583870379023096132013-09-26T10:14:13.613-05:002013-09-26T10:14:13.613-05:00This is mostly true:
The Gold Standard, Deflation...This is mostly true:<br /><br />The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison<br />Ben Bernanke and Harold James<br />January 1991<br /><br />http://www.nber.org/chapters/c11482.pdf<br /><br />Page 36:<br /><br />"By the end of 1925, out of a list of 48 currencies given by the League of Nations (1926), 28 had been pegged to gold. Mark A. Sadowskihttps://www.blogger.com/profile/08259309059705236763noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-74638662342807450372013-09-26T00:26:57.251-05:002013-09-26T00:26:57.251-05:00Great blogging.
Please Fed Officials: Pour it on,...Great blogging. <br />Please Fed Officials: Pour it on, then really pour it on. Or better yet, taper up until we see real growth north of 3 percent for four straight quarters....Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-21516643655922178452013-09-25T17:21:20.895-05:002013-09-25T17:21:20.895-05:00By the way, I think Spain is also a great example ...By the way, I think Spain is also a great example during the 30's that since they were never in the gold standard they did not go through a big slump. Also China did not go through a depression and they were under a silver standard. More evidence that the gold standard turned a recession into the Great Depression.teschttps://www.blogger.com/profile/14155323368031035040noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-155533878901389142013-09-25T17:12:34.915-05:002013-09-25T17:12:34.915-05:00This post is gold, thanks for highlighting the nat...This post is gold, thanks for highlighting the natural experiment in front of our eyes. When I tell people about monetary offset and the power of the FED at ZLB, they look at me like in unbelief. This is a perfect example that ZLB is for interest rates, not for monetary policy. Two totally different thingsteschttps://www.blogger.com/profile/14155323368031035040noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-21542279772467774152013-09-25T07:33:58.230-05:002013-09-25T07:33:58.230-05:00This comment has been removed by the author.João Marcushttps://www.blogger.com/profile/13658264244033012660noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-85264826771490486282013-09-25T07:33:44.837-05:002013-09-25T07:33:44.837-05:00And this one compares the US & UK. Again, anot...And this one compares the US & UK. Again, another 'natural' experiment on the power of MP in the ZLB:<br />http://thefaintofheart.wordpress.com/2013/05/21/monetary-policy-trumps-fiscal-policy-uk-vs-us/João Marcushttps://www.blogger.com/profile/13658264244033012660noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-9762982485654623332013-09-25T07:17:03.138-05:002013-09-25T07:17:03.138-05:00David I had done a related post. Same conclusion!
...David I had done a related post. Same conclusion!<br />http://thefaintofheart.wordpress.com/2013/09/24/austerity-distractions/João Marcushttps://www.blogger.com/profile/13658264244033012660noreply@blogger.com