Monetary Realism

Understanding The Modern Monetary System…

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Not Everybody Does It and Feynman Integrity

Paul Romer upended the apple cart with his broad statement Freshwater economists aren’t doing science or even trying to do science. This is an unbelievably strong accusation of professional malfeasance. It basically accuses the Freshwater crowd of not doing their job. Paul Krugman piles on – flat out providing examples of the biggest Saltwater economists… Read More

Negative Interest Rates and the Business Cycle

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Negative Interest Rates and the Business Cycle The major way interest rates impact the business cycle is through stimulating or suppressing real estate. This is pretty clearly what happens if you look at the data in Ed Leamers paper Housing is the Business Cycle. Mr. Leamer says as much: “For long-run growth, residential investment is… Read More

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