tag:blogger.com,1999:blog-8897997766931633186.post3569819115415506102..comments2024-02-14T03:21:37.506-05:00Comments on Monetary Freedom: More on Andofatto's ChallengeBill Woolseyhttp://www.blogger.com/profile/06330232724290161369noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8897997766931633186.post-2284769932781555572012-05-05T13:22:27.632-04:002012-05-05T13:22:27.632-04:00I will grant that the stable nominal interest rate...I will grant that the stable nominal interest rates and the self correcting characteristics are related.<br /><br />Glasner responded to my comment on his blog by pointing out that he had that effect in mind and not solely the sort of scenario I described.Bill Woolseyhttps://www.blogger.com/profile/06330232724290161369noreply@blogger.comtag:blogger.com,1999:blog-8897997766931633186.post-24326868007003574192012-05-01T20:45:13.687-04:002012-05-01T20:45:13.687-04:00Very good post Bill.
One question: deep down, at ...Very good post Bill.<br /><br />One question: deep down, at root, is there any difference between: David Glasner's valid point about the relation between the equilibrium interest rate and NGDP growth; and the self-correcting mechanism of NGDP level path targeting?<br /><br />I have a feeling these two points are related.<br /><br />"Face it, market monetarists are all about rules. Andolfatto's question, "why is increasing nominal GDP a good idea right now" is difficult to answer."<br /><br />Yep. Good point.Nick Rowehttps://www.blogger.com/profile/04982579343160429422noreply@blogger.com