tag:blogger.com,1999:blog-1740670447258719504.post5898092523913044303..comments2024-03-18T06:41:03.841-04:00Comments on Facts & other stubborn things: Models, reality, and bankers (conservative central banker/time inconsistency stuff again)Evanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1740670447258719504.post-29391096385345435472012-08-09T14:13:07.711-04:002012-08-09T14:13:07.711-04:00It would be disastrous under normal circumstances....It would be disastrous under normal circumstances. My point is that it's an open question whether a standard expectations augmented Phillip's curve where only unanticipated inflation contributes to AD really makes sense right now. There's a good case that it doesn't.<br /><br />In that case, you really need a "liberal central banker".<br /><br />Or better yet, a central banker that knows when to be liberal and when to be conservative while always being more or less predictable and credible.<br /><br />Not an easy task, of course.Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-2989360525713081732012-08-09T14:10:01.667-04:002012-08-09T14:10:01.667-04:00If we are using an expectations augmented Phillip&...If we are using an expectations augmented Phillip's Curve, then having a recognizable "liberal" central banker would be disastrous. For inflation to increase AD, it must be unanticipated. If the public expects it, we just get DWL. Do you mean that when inflation is out of control, we need a "liberal" central banker so that the market form appropriate expectation?James Catonhttps://www.blogger.com/profile/14807595180565488334noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-13008016172720027322012-08-08T03:28:50.153-04:002012-08-08T03:28:50.153-04:00turnkey rentalSlowly, but surely, the foreclosure ...<a rel="nofollow">turnkey rental</a>Slowly, but surely, the foreclosure crisis seems to be abating <a rel="nofollow"> rental properties</a> .Anonymoushttps://www.blogger.com/profile/00536706925940545731noreply@blogger.com