economistsview.typepad.com - 4/4/2009
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Simon Johnson and James Kwak of the Baseline Scenario argue in today's Washington Post that the Fed risks triggering an inflationary spiral despite the current gaping output gap (see also Mark Thoma's comments here). I believe that Johnson and Kwak are perpetuating a misunderstanding about ...
washingtonpost.com - 4/9/2009
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washingtonpost.com —
This chairman set out to lead as a
civil servant rather than a celebrity economist. Facing a...
thundering financial collapse, he has reinvented the Federal Reserve. By invoking emergency powers, Ben Bernanke has drawn criticism. He has transcended usual ...
(more)
How Bernanke Staged a Revolution
calculatedriskblog.com - 4/4/2009
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calculatedriskblog.com —
It looks like the FDIC cancelled Friday ...
From Simon Johnson and James Kwak of Baseline Scenario...
writing in the WaPo: The Radicalization of Ben Bernanke ... Shortly after joining the Fed in 2002, Bernanke gave a speech describing how the Fed could ...
(more)
Inflation vs. Deflation
baselinescenario.com - 4/6/2009
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baselinescenario.com —
There are two ways to think about inflation
in today’s economy. The first, suggested by conventional macroeconomic...
frameworks for the US, is that, with rising unemployment and actual output sinking further below “potential” output, inflation will stay low - and we could ...
(more)
Inflation Prospects In An Emerging Market, Like The U.S.
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Inflation vs. Deflation
Calculated Risk —
... long-term bonds on the market -- which reduces the value of each dollar in circulation and therefore raises the dollar price of goods and services. "Under a paper-money system," Bernanke explained, "a determined government can always generate higher spending and hence positive inflation." In a time of economic overconfidence, the discussion seemed largely academic. But it is now clear that Bernanke intends to follow through on it. Tim Duy at Economist's View responds: Johnson and Kwak vs. Bernanke The implicit assumption is that the Fed is expanding the ...
Links 4/5/09
naked capitalism —
... makers leave Hollywood BBC Believing in Treatments That Don’t Work New York Times U.S. property bust threatens condo "death spiral" Reuters Be Nice Baseline Scenario. So NC isn't the only site witnessing a recent fall in civility. The Age of Balance Sheet Recessions: What Post-2008 U.S., Europe and China Can Learn from Japan 1990-2005 Richard Koo (hat tip reader Bjornar). Be sure to take note of Exhibit 12. Yikes. Johnson and Kwak vs. Bernanke Tim Duy Fannie, Freddie Quietly Lift Moratorium on ...
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