The zero-lower bound as a modern version of Gresham's law

The zero-lower bound as a modern version of Gresham's law

| bimetallism, cash, coins, George Selgin, Gresham's Law, history of thought, John Locke, Miles Kimball, unit of account, zero lower bound

Sir Thomas Gresham, c. 1554 by Anthonis Mor The zero-lower bound may seem like a new problem, but I'm going to argue that it's only ...

Give Bernanke a long enough lever and a fulcrum on which to place it, and he'll move NGDP

Give Bernanke a long enough lever and a fulcrum on which to place it, and he'll move NGDP

| inflation, market monetarism, Mike Sproul, Miles Kimball, Nick Rowe, open market operations, Paul Krugman, quantitative easing, Scott Sumner, zero lower bound

I'm running into a lot of central bank doubt lately. Mike Sax and Unlearning Economics , for instance, both question the ability of the...

Transporting the macroblogosphere back to 1809: Usury Laws and the 5% upper bound

Transporting the macroblogosphere back to 1809: Usury Laws and the 5% upper bound

| Bank of England, forward guidance, Henry Thornton, history of thought, inflation, Miles Kimball, Nick Rowe, nominal interest rates, Paul Krugman, real interest rate, usury, zero lower bound

The zero-lower bound is the well-known 0% floor that a note-issuing bank hits whenever it attempts to reduce the interest rate it offers on ...