That prognostication, more recently made by Steve Randy Waldman, has generated an intense online debate about monetary operations, base money, the platinum coin and the so-called “permanent fl...
But it is a step! Market monetarists will lie with post-Keynesians, the parted waters will turn brackish, as we affirm, in unison: Paul Krugman and I are both inarticulate dorks. Further, it is ...
addthis_share = {"templates":{"twitter":"Lux et Veritas: {{title}} {{url}} (via @jessefrederik)"}};}Steve Randy Waldman en Paul Krugman zijn beide economen die gezegend zijn met de gave om hel...
And currency held by the non-bank public is not now, nor has ever been a "base" for the expansion of new money & credit. Currency has no expansion coefficient. Currency has no common repository f...
"A zero reserve requirement can co-exist with a floor system" That's "Russian roulette". The only tool at the disposal of the monetary authority in a free capitalistic system through which the vo...
I sympathize with Krugman’s view, albeit probably for slightly different reasons. In his newest post Waldman says Krugman misinterpreted his argument. So perhaps they aren’t that far apa...
http://ftalphaville.ft.com/2013/01/16/1338362/once-you-turn-base-money-into-short-term-debt-can-you-go-back/? Izabella Kaminska, Jan. 16 "Forget about the $1 trillion coin debate. The most exciti...
Steve, you wrote "3(b)" in your update. I don't think Krugman had a 3(b). Did you mean 2(b) or 3? Also, Krugman responds - http://krugman.blogs.nytimes.com/2013/01/17/all-your-base-are-belong-to-...
since this is at the core of the recent debate between Steve Randy Waldman (see here, here, and here) and Paul Krugman (see here and here) on the so-called “permanent floor.” (It might be ...
@Joshua, that is how the BoE (and the ECB I think) do it in normal times. No IOER, but an uncompetitive standing deposit facility to provide a floor. If the cb sets IOER at the rate it targets fo...