Peter Stella on the Fiscal Theory of the Price Level
Macro Musings with David Beckworth
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Is QE3 Really Making a Difference?
Wallace neutrality is a very powerful idea and i remember having lots of conversations about it. The notion that the government will have to monetize the debt eventually bothers me as well. It's missing something really important that has to do with the progress of financial markets in the last you know 50 years. Helicopter money this sort of drives me nuts but we have to agree helicopter money is fiscal policy and it's a permanent increase in the fiscal deficit.
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