tag:blogger.com,1999:blog-1740670447258719504.post2087720184663781037..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: The Limits of Monetary Policy (or, "Why DeLong, Krugman, Yglesias, and Sumner are Wrong")Evanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1740670447258719504.post-50607939346273834302009-12-11T10:29:56.908-05:002009-12-11T10:29:56.908-05:00http://blogsandwikis.bentley.edu/themoneyillusion/...http://blogsandwikis.bentley.edu/themoneyillusion/?p=3205<br /><br />The blogosphere back-and-forth on this rages on.<br /><br />Sumner gets specific here (and it's relevant to me "additional thoughts") - for him, the purpose of unconventional monetary policy is most decisively to cause inflation (presumably to make the de facto nominal interest rate floor non-binding, although you never know with Sumner... sometimes it seems like he just wants steady nominal GDP growth, regardless of how it's apportioned between real growth and inflation).dkuehnhttps://www.blogger.com/profile/10136690886858186981noreply@blogger.com