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Kocherlakota loose money and deflation

…the jump I try and fail). First, as noted by Andy Harless, Kocherlakota is asserting super-neutrality – not just that the level of the money supply doesn’t affect real variables…

Marginal Cost

…out theater effect explains why matinee tickets are cheap. Yeah a super duper mega hit film might justify more expensive tickets because tickets are often sold out. But only for…

Are We in a Liquidity Trap ?

…— say a super liquidity trap and get to a second proposed answer Not when we are in a super liquidity trap. After the jump I criticize my second proposed…

Yglesias Wants to Soak the Rich

…day most of the super-rich would ultimately find it a relief to get off the treadmill of status-competition and the not-quite-so-rich would be thrilled to see their betters cut down…