tag:blogger.com,1999:blog-2546602206734889307.post7560382903492773437..comments2024-03-28T04:29:22.717+00:00Comments on mainly macro: Why Mark Carney is a breath of fresh airMainly Macrohttp://www.blogger.com/profile/09984575852247982901noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2546602206734889307.post-48461820263638960182014-02-19T15:17:35.391+00:002014-02-19T15:17:35.391+00:00The image of the Bank has completely changed. Load...The image of the Bank has completely changed. Loads more Economics students like me are more inclined to apply to work there now.Anonymoushttps://www.blogger.com/profile/08345167048960738950noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-37301940189784591412014-02-16T01:10:42.011+00:002014-02-16T01:10:42.011+00:00Absolutely right. For which low interest rates are...Absolutely right. For which low interest rates are a major boon.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-11653319732241868242014-02-14T11:49:22.152+00:002014-02-14T11:49:22.152+00:00"This is important, because it either gives u..."This is important, because it either gives us additional information about the Bank’s forecasts or their objectives."<br /><br />That is the problem.<br /><br />Is it additional information about the Bank's forecasts?<br /><br />Or is it additional information about the Bank's objectives?<br /><br />Because the same news could be contractionary if interpreted the first way ("the economy is worse than we thought"), and expansionary if interpreted the second way ("The Bank wants higher NGDP than we thought").Nick Rowehttps://www.blogger.com/profile/04982579343160429422noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-58537420088807298572014-02-14T11:23:37.177+00:002014-02-14T11:23:37.177+00:00Do interest rate adjustments actually have much ef...Do interest rate adjustments actually have much effect? Not according to the two studies here:<br /><br />http://www.federalreserve.gov/pubs/feds/2014/201402/201402pap.pdf<br /><br />http://nakedkeynesianism.blogspot.co.uk/2014/02/investment-interest-rates-and.html<br /><br />Re the “the innovative New Zealand Fed”, I’m a big admirer of them for refusing to give guarantees to those who deposit at commercial banks (the source of all bank subsidies). The less than clued up IMF wants them to give such guarantees at the same time as saying something needs to be done about bank subsidies. Full marks to NZ and nil points to the IMF.<br /><br /><br />Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-14334129358371177032014-02-14T09:50:48.632+00:002014-02-14T09:50:48.632+00:00I wonder if Osborne selected Carney for BoE Govern...I wonder if Osborne selected Carney for BoE Governor as Canada has a housing bubble that hasn't popped (Krugman blog June 15, 2013 'Worthwhile Canadian Comparison'). <br /><br />He also seems useful to Osborne, as a Canadian, to back the idea that an independent Scotland should not have the pound. Stiglitz I see gave the advice to the SNP to keep the pound. <br /><br />Why the BoE's output gap should be so small if they are going for secular stagnation is another mystery. It all looks confused.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-31579122117722846062014-02-14T07:22:14.722+00:002014-02-14T07:22:14.722+00:00indeed; the productivity gained through rent seeki...indeed; the productivity gained through rent seeking is at an all time high. Anonymousnoreply@blogger.com