Does the phrase "price level" encapsulate both inflation and deflation.?
Meme events inspire me to make link lists. There's Piketty's K21. The Floor system and the billion dollar coin. German trade surpluses.
And now the Philips Curve with anchored inflation expectations. And the 70s stagflation, new classical revolution which failed in the 80s. A commenter noted how people with debt and little savings are constrained in their spending. They may see higher inflation with food and gas prices going up, but what does this translate into as expectations. Fox News may convince your Republicunt uncle that inflation is raging but what does this mean for his savings and investment decisions?
The history of economic thought is not a food fight: Philips Curve edition by Daniel Kuehn
http://factsandotherstubbornthings.blogspot.com/2014/08/the-history-of-economic-thought-is-not_4.html
Inflation Expectations: How Credibility Pays Off by Cecchetti and Schoenholtz
Stagflation and the Fall of Macroeconomics by Krugman
Methodological seduction by Simon Wren-Lewis
Financial Market Oversight, Economic Recoveries, and Full Employment: Some Crucial Linkages by Jared Bernstein
The Tradeoff between Inflation and Unemployment: What We Don’t Know Can Hurt Us by Jared Bernstein
On (Rational) Expectations by Chris Dillow
The history of economic thought is not a food fight: Philips Curve edition by Daniel Kuehn
http://factsandotherstubbornthings.blogspot.com/2014/08/the-history-of-economic-thought-is-not_4.html
Inflation Expectations: How Credibility Pays Off by Cecchetti and Schoenholtz
Stagflation and the Fall of Macroeconomics by Krugman
Methodological seduction by Simon Wren-Lewis
Financial Market Oversight, Economic Recoveries, and Full Employment: Some Crucial Linkages by Jared Bernstein
The Tradeoff between Inflation and Unemployment: What We Don’t Know Can Hurt Us by Jared Bernstein
On (Rational) Expectations by Chris Dillow
Defending rational expectations by Simon Wren-Lewis
More On Consumers’ Inflation Forecasts by Robert Waldmann
Philips curves with anchored expectations by Robert Waldmann
Aggregate Demand, Aggregate Supply, and What We Know (Wonkish) by KrugmanPhilips curves with anchored expectations by Robert Waldmann
Anchored Perceived Inflation or How Fox News Helped Obama by Robert Waldmann
The Neo-paleo-Keynesian Counter-counter-counterrevolution (Wonkish) by Krugman
Downward Nominal Wage Rigidities Bend the Phillips Curve by Daly and Hobijn
DEPARTMENT OF "WTF?!" CHRIS HOUSE ON TRADITIONAL MACROECONOMIC MODELS AND THE GREAT RECESSION by DeLong
Nominal wage rigidity. What do inflation expections do? What's the mechanism. Does it effect demand via investment and savings. Those with debt can't really adjust much and don't effect demand much unless they go bankrupt. Aggregate effects? The elderly Fox News crowd can adjust behavior. Give less to Sarah Palin and Ted Cruz?
No comments:
Post a Comment