Wow, I love this article so much. Monetary Policy
It just about sums up … everything. It even includes the relevant, popular quotes:
“If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: it will be what [Alan] Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.” (Krugman, 1997)
“a combined monetary-fiscal effort … This is Milton Friedman’s “helicopter drop” of money.” [As a side, the Fed team this year decided to give our professors real gifts, in addition to plastic helicopters with money coming out/hanging off.]
Faulty powers: Monetary Policy, from The Economist
Wow, I love this article so much. Monetary Policy
It just about sums up … everything. It even includes the relevant, popular quotes:
“If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: it will be what [Alan] Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.” (Krugman, 1997)
“a combined monetary-fiscal effort … This is Milton Friedman’s “helicopter drop” of money.” [As a side, the Fed team this year decided to give our professors real gifts, in addition to plastic helicopters with money coming out/hanging off.]