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Tyler Cowen has a post entitled “Is Abenomics Working?” The first line of the post says: Japan’s economy grew by 0.7% in 2013, down from an initial estimate of 1%. That reflects the year over year figures, which makes the “in 2013” phrasing slightly misleading. The rate is quite low because Japanese RGDP was falling in 2012, before Abenomics was enacted. A better test would be 4th quarter over 4
I tried to put together a short intro course on money for students who have already studied basic macroeconomics. It consists of nine posts: 1. Money matters a lot. (and non-monetary shocks don’t matter as much as you’d think.) 2. Why does money matter? 3. Money and inflation, pt. 1: The long twilight of gold. 4. Money and inflation, pt. 2: Why does fiat money have value? 5. Money and infl
For readers who don’t already know this, my new blog is over at Substack: scottsumner.substack.com This will be my final Money Illusion post. The blog began on February 2, 2009. But the events that led to the blog took place in late 2008. Indeed my life can be divided into two segments, before and after September 16, 2008. It was that specific Fed meeting that radicalized me, and which led me to c
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