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The Market Monetarist – the Book. Part 1 From Blog to Book. 'marketmonetarist.com' 2 Contents 1 2011 11 1.1 October . 11 Welcome to The Market Monetarist (2011-10-01 11:08) .................... 11 Four reasons why central bankers ignore Scott Sumner’s good advice (2011-10-02 09:30) . 12 The youtube version of Market Monetarism (2011-10-02 22:08) . 15 Risk off and monetary conditions (2011-10-03 07:44) ...................... 15 France caused the Great Depression – who caused the Great Recession? (2011-10-03 21:28) 17 Sumner explains the difference between "old-style" monetarism and Market Monetarism: (2011-10-03 22:56) .................................... 18 If you want to know about the Great Recession read Robert Hetzel (2011-10-04 07:27) . 18 Bill "the new Gipper" Woolsey's interesting idea (2011-10-04 21:11) . 19 Protectionism is still evil (2011-10-04 21:42) ........................... 20 Friedman vs Mundell revisited (2011-10-05 07:00) ........................ 21 Bob Murphy is anti-market (monetarism) (2011-10-07 13:33) . 21 Sex, flowers and Friedman (2011-10-07 14:08) .......................... 23 Recommend reading for aspiring Market Monetarists (2011-10-07 15:24) . 24 Friedman on the Great Depression - the Youtube version (2011-10-07 22:02) . 26 Keleher’s Market Monetarism (2011-10-08 00:19) ........................ 26 Why I Am Not an Austrian Economist (2011-10-08 08:15) ................... 29 The big IS/LM debate - DeLong comes under heavy shelling (2011-10-08 19:41) . 30 And the Nobel Prize in economics goes to... (2011-10-08 23:09) . 31 A Market Monetarist version of the McCallum rule (2011-10-09 11:02) . 32 Brad, the market will tell you when monetary policy is easy (2011-10-09 21:06) . 36 Some (Un)pleasant Nobelmetrics& (2011-10-10 18:04) ..................... 38 Market Monetarist Methodology – Markets rather than econometric testing (2011-10-10 21:15) 40 Believe it or not, but Greenspan makes a lot of sense (2011-10-10 22:49) . 42 Gideon Gono, a time machine and the liquidity trap (2011-10-11 00:33) . 42 3 Monetary policy and banking crisis - lessons from the Great Depression (2011-10-12 00:49) 45 Beckworth's journey - we travel together (2011-10-12 10:47) . 46 Guest blog: An Austrian Perspective on Market Monetarism (2011-10-13 22:31) . 51 Rush, Rush, Market Monetarists, Steven Horwitz is your friend (2011-10-14 00:29) . 55 Reagan supply siders = market monetarists? (2011-10-14 16:51) . 58 Market Monetarism - now on Wikipedia (2011-10-14 20:07) . 59 Horwitz, McCallum and Markets (and nothing about Rush) (2011-10-15 00:38) . 59 Never underestimate the importance of luck (2011-10-15 21:05) . 61 Gustav Cassel on recessions (2011-10-15 22:52) ......................... 62 ”Recessions are always and everywhere a monetary phenomenon” (2011-10-16 17:04) . 63 Japan’s deflation story is not really a horror story (2011-10-16 18:00) . 65 Chuck Norris on monetary policy #1 (2011-10-16 20:32) .................... 67 Sexy new model could shed light on the Great Recession (2011-10-17 10:04) . 67 &political news kept slipping into the financial section” (2011-10-17 16:42) . 69 Gold, France and book recommendations (2011-10-17 21:28) . 69 Nick, Chuck and the central banks (2011-10-18 07:19) ..................... 70 Fear, hope, doubt and resignation (2011-10-18 10:06) ...................... 70 NGDP targeting is not about ”stimulus” (2011-10-18 19:24) . 71 The open-minded Krugman (2011-10-18 19:49) ......................... 73 Chuck Norris on monetary policy #2 (2011-10-18 23:42) .................... 74 The Hottest Idea In Monetary Policy (2011-10-19 08:00) .................... 75 Killing the messenger won't solve the debt crisis (2011-10-19 08:34) . 75 More on the McCallum-Christensen rule (and something on Selgin and the IMF) (2011-10-19 17:47) .................................... 76 Open-minded Brits – and Austrians (2011-10-19 18:40) .................... 77 Krugman's tribute to Market Monetarism (2011-10-19 22:45) . 78 Beckworth's NGDP Targeting links (2011-10-20 07:54) ..................... 79 Calvinist economics - the sin of our times (2011-10-20 10:44) . 79 Please help Mr. Simor (2011-10-20 11:27) ............................ 82 Woolsey on DeLong on NGDP Targeting (2011-10-20 19:17) . 83 "Our Monetary ills Laid to Puritanism" (2011-10-21 17:31) . 84 Clark Johnson has written what will become a Market Monetarist Classic (2011-10-22 10:44) 86 "Nominal Income Targeting" on Wikipedia (2011-10-22 11:32) . 89 Do you remember Friedman's "plucking model"? (2011-10-22 12:59) . 89 Chuck Norris on monetary policy #3 (2011-10-22 18:40) .................... 90 4 Scott Sumner and the Case against Currency Monopoly...or how to privatize the Fed (2011-10-23 10:31) .................................... 91 When central banking becomes central planning (2011-10-23 13:58) . 93 "Graph man" Nunes is having a look at the Plucking Model (2011-10-23 14:47) . 97 Bennett McCallum - grandfather of Market Monetarism (2011-10-24 17:12) . 97 80 years on - here we go again... (2011-10-24 22:13) ...................... 98 Brüning (1931) and Papandreou (2011) (2011-10-24 22:33) ................... 99 Central banks cannot ”do nothing” (2011-10-25 10:10) ..................... 99 Guest blog: Central banking - between planning and rules (2011-10-25 20:49) . 103 Calomiris on "Contagious Events" (2011-10-25 22:14) . 107 Google Trends: From Greek crisis to euro crisis (2011-10-26 13:48) . 108 Hawtrey, Cassel and Glasner (2011-10-26 23:30) . 109 The Hoover (Merkel/Sarkozy) Moratorium (2011-10-27 20:08) . 110 Thank you Kelly Evans (2011-10-27 20:30) . 111 First Wikipedia, now Facebook (2011-10-27 21:26) . 111 Milton Friedman on exchange rate policy #1 (2011-10-28 18:01) . 112 The Tintin of NGDP targeting (2011-10-28 19:02) . 114 Milton Friedman on Exchange rate policy #2 (2011-10-29 07:00) . 114 "Chinese Silver Standard Economy and the 1929 Great Depression" (2011-10-29 10:54) . 117 The "China Bluff" (2011-10-29 17:25) ............................... 118 Christina Romer comes out in support of NGDP targeting (2011-10-29 20:58) . 118 Bennett McCallum on EconPapers - start downloading NOW! (2011-10-29 23:44) . 120 Milton Friedman on exchange rate policy #3 (2011-10-30 07:00) . 120 Daylight saving time and NGDP targeting (2011-10-30 12:12) . 122 "Ben Volcker" and the monetary transmission mechanism (2011-10-30 14:47) . 124 Hayekian capital theory - the math geek version (2011-10-30 21:10) . 130 Milton Friedman on exchange rates #4 (2011-10-31 07:00) . 131 The inverse relationship between central banks' credibility and the credibility of monetarism (2011-10-31 21:44) .................................... 134 "Bernanke invites Scott Sumner for lunch" (2011-10-31 23:02) . 137 1.2 November . 138 Milton Friedman on exchange rate policy #5 (2011-11-01 07:00) . 138 Twitting Market Monetarist (2011-11-01 08:16) . 139 Needed: Rooseveltian Resolve (2011-11-01 09:19) ........................ 139 80 years ago - history keeps repeating itself (2011-11-02 06:16) . 140 Milton Friedman on exchange rate policy #6 (2011-11-02 07:00) . 140 5 Germany 1931, Argentina 2001 - Greece 2011? (2011-11-02 10:22) . 141 M-pesa - Free Banking in Africa? (2011-11-02 11:00) . 142 BREAKING NEWS!! Fed is now openly discussing NGDP targeting (2011-11-02 20:32) . 144 George Selgin on Bernanke and NGDP targeting (2011-11-03 08:49) . 145 The Chuck Norris effect, Swiss lessons and a (not so) crazy idea (2011-11-03 11:40) . 147 William Niskanen 1933-2011 (2011-11-03 17:13) . 149 Beckworth and Ponnuru: Tight budgets, Loose money (2011-11-03 17:43) . 150 Tim Lee - Market Monetarist (2011-11-04 00:04) . 150 Does China target NGDP? (2011-11-04 22:04) . 151 The Market Monetarist voice at Cato Institute (2011-11-05 18:35) . 153 Argentine lessons for Greece (2011-11-05 21:07) . 153 Friedman’s thermostat and why he obviously would support a NGDP target (2011-11-05 22:21) 155 Friedman provided a theory for NGDP targeting (2011-11-06 10:18) . 156 Taxes and the liquidity trap (2011-11-07 21:15) . 158 Sumner, Glasner, Machlup and the definition of inflation (2011-11-08 00:27) . 159 Selgin is right - Friedman wanted to abolish the Fed (2011-11-08 01:05) . 160 A history of bunganomics (2011-11-08 17:37) . 161 Scott’s prediction market (2011-11-08 18:45) . 162 Kelly Evans interviews Scott Sumner (2011-11-08 21:59) . 163 Gustav Cassel foresaw the Great Depression (2011-11-09 00:33) . 164 Roubini of Central and Eastern Europe? Me? (2011-11-09 23:43) . 166 If just David Glasner was ECB chief... (2011-11-10 09:09) . 166 Repeating a (not so) crazy idea - or if Chuck Norris was ECB chief (2011-11-10 15:49) . 167 Use googlenomics to track NGDP (2011-11-11 22:50) . 169 NGDP targeting is not a Keynesian business cycle policy (2011-11-12 09:21) . 170 Be right for the right reasons (2011-11-12 20:20) . 173 Roth’s Monetary and Fiscal Framework for Economic Stability (2011-11-13 22:36) . 175 Irving Fisher and the New Normal (2011-11-13 23:30) . 178 Reuter's Hayek vs Keynes debate (2011-11-14 01:28) . 180 Bank of Canada is effectively targeting the price level (2011-11-14 20:55) . 180 The Fisher-Friedman-Sumner-Svensson axis (2011-11-14 21:45) . 181 The Fed can save the euro (2011-11-15 06:36) .
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