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links for 2008-11-29
Economist's View —
Was the Great Depression a monetary phenomenon? - Paul Krugman
Friedman, revisited - Free exchange
William Kristol on Economic Theory and Practice - Econbrowser
Markets Don't Make Bubbles, People Do - washingtonpost.com
Consumers still adding leverage to income - News N Economics
Sunday morning links
The Mess That Greenspan Made —
... - Guardian Nine Perplexing Phenomena About China’s Economy - Epoch Times Taxpayer left with £2.4bn paper loss in RBS takeover - Guardian HOUSING A Dispatch From Housing’s Front Lines - NY Times The Condo Crunch - Washington Post O.C. house prices seen rising in 2013 - OC Register FED/TREASURY/BANKING Bank of Zimbabwe Commends US and UK for Following Its Lead - Naked Capitalism Was the Great Depression a monetary phenomenon? - NY Times After General Bernanke Destroys The ...
Is money not a big deal for the Great Depression?
The visible hand in economics —
... Over at Paul Krugman’s blog he discusses the idea that monetary authorities could have prevented the Great Depression and how that relates to now (ht ...
Why 'Expected Deflation' Can Be a Good Thing
EconomPic —
... So, where does this leave us? We are without question increasing the money supply by an amount without compare in our nation's history. However, expectations for inflation are not only low, but as can be seen below negative (as of Friday's close, you can purchase inflation swaps that will make money if inflation is greater than -2% annualized over the next two years!). ...
Interpreting the Monetary Base Under the New Monetary Regime
Marginal Revolution —
... The monetary regime has changed and, as a result, many people are misinterpreting the recent increase in the monetary base. Paul Krugman, for example, posts the picture at right. His interpretation is that the tremendous increase in the base shows that the Fed is trying to expand the money supply like crazy but nothing is happening, i.e. a massive liquidity trap. (Krugman is not alone in this interpretation, see e.g. ...
Coming (rather wonkishly) Up To Date On The Great Depression
A Fistful Of Euros » A Fistful Of Euros —
... “Has anyone else noticed that the current crisis sheds light on one of the great controversies of economic history?” Paul Krugman asked his readers back in Novermber last year. In fact on reading this I felt immediately filled with the urge to stand on my chair and shout out loud across the Atlantic to him “Hi Prof, yes me”, since - to plagiarise a phrase from Robert Lucas - scarcely a day has passed since the 9 August 2007 (the day PNB Paribas found themselves short of $2 billion dollars to “close” their books) when I have not been thinking ...
Getting “Wonkish” on the Great Depression
Paul Kedrosky's Infectious Greed —
... Has anyone else noticed that the current crisis sheds light on one of the great controversies of economic history?” Paul Krugman asked his readers back in Novermber last year. In fact on reading this I felt immediately filled with the urge to stand on my chair and shout out loud across the Atlantic to him “Hi Prof, yes me”, since - to plagiarize a phrase from Robert Lucas - scarcely a day has passed since the 9 August 2007 (the day PNB Paribas found themselves short of $2 billion dollars to “close” their books) when I have not been thinking about this. In fact, despite the many ...
Depression *alert* - international institution edition
FT Alphaville —
... ) that could be added to the list - but it is an expanding one. If we are in a Depression, or on the verge of one, there’s a very small silver lining; observing this crisis, with the benefit of some 75 years of economic theory and history, could help us understand the causes of the Great Depression and economics in general. Paul Krugman did an interesting post on this idea back in late November, asking: Has anyone else noticed that the current crisis sheds light on one of the great controversies of economic history? A central theme of Keynes’s General Theory was the impotence ...
