Tuesday, July 2, 2013

A Post on Private Currency and the Zero Nominal Bound

Miles Kimball reposted a piece from JP Koning that cited a couple of my posts, here and here.

Koning argues that efforts by a central bank to suppress  the use of hand-to-hand currency when faced with a zero nominal bound really just proxy what private currency-issuing banks would be compelled to do in a similar circumstance.  

Thanks for the citations!

P.S.  Getting ready to return home to Charleston from the WEA meetings in Seattle.   Seattle was terribly hot at 82 degrees and 40% humidity.  (Yes, fellow denizens of the Lowcountry, that is what people around here are saying.)  I presented a paper at a session on Nominal GDP targeting.   Scott Sumner, David Eagle, and Evan Koenig also presented.  Even better than the session was lunch with them after, and then dinner with Scott and David.


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