Here’s the Financial Times: Turkey’s central bank has dented hopes for a return to economic orthodoxy, ignoring calls from many investors to raise its main interest rate and sending the lira to a new record low. The currency fell more than 2 percent immediately following the decision to keep the benchmark one-week repo rate on […]
https://www.themoneymischief.com/how-is-that-neofisherian-experiment-going-in-turkey/
Scott Sumner wrote a post that the Keynesian model could not explain the recession we were in recently. Although I fully agree with Sumner, I intend to emphasize a few points. Let’s first look at this graph showing PCE and disposable income: The Keynesian models we have do not show that NGDP will drop 33% […]
https://www.themoneymischief.com/this-is-not-our-grandfathers-recession/
