tag:blogger.com,1999:blog-5713178645208582139.post8290674113874678938..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: The Real Balance Effect During the Great DepressionDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5713178645208582139.post-74347807148608182062008-12-07T21:45:00.000-06:002008-12-07T21:45:00.000-06:00ECB,thanks for the pointer. I finally got around ...ECB,<BR/><BR/>thanks for the pointer. I finally got around to redoing the analysis with F&S monetary base numbers.David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-87761956315838286882008-12-05T20:10:00.000-06:002008-12-05T20:10:00.000-06:00David,I seem to remember from distant monetary the...David,<BR/>I seem to remember from distant monetary theory class as an undergrad that the real balance effect should only apply to so-called outside money and not inside money like M1. Gurley & Shaw claimed inside money was not net worth since there is a corresponding private sector asset & liabilityAnonymousnoreply@blogger.com