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Krugman doesn’t understand IS-LM (Part 2)

This is the second installment in a 4 part post; click this link for the first part. But first, a word about my Kickstarter campaign to raise funds to develop Minsky, a tool for designing strictly monetary macroeconomic models:

Krugman doesn’t understand IS-LM (Part 1)

This is a post in at least 4 parts; for part 1, click this link to the Business Spectator article. There are only 10 days left to help Kickstart Minsky! Help us reach our stretch goals:

Ten videos on using Minsky

Early on Saturday morning New York time, I’m launching a Kickstarter campaign to raise funds to further develop my Minsky modeling program. The draft pitch can be seen here (until the actual one goes live): Draft Kickstarter Minsky campaign This post is to give a quick “what it is and why it’s new” overview of Minsky via ten videos in a Youtube playlist.

Mortgage acceleration & house price changes—the result

As I wrote just before the data was released, I expected house prices to rise at a level “either below or barely above CPI inflation”: The ABS House Price Index Data will published at 11.30am today. My Mortgage Accelerator data indicates that it will show a further rise in house prices—though at an anaemic level of either below or barely above CPI inflation. In fact, the numbers came out spot on at the rate of CPI inflation over the previous year:

Mortgage acceleration & house price changes

The ABS House Price Index Data will published at 11.30am today. My Mortgage Accelerator data indicates that it will show a further rise in house prices—though at an anaemic level of either below or barely above CPI inflation. The correlation coefficient between these two series is 0.853.

Will politicians cause a Roosevelt Recession in 2013?

Recent economic data from both the UK and US should have taken the wind out of the sails of those in the Anglosphere who – despite clearly contradictory evidence from mainland Europe – continue to argue that fiscal tightening is needed for economic growth is to recover.

Didn’t see the Forest Fire for the Trees

One of the beauties of the modern age is that documents that once would have been either inaccessible, or taken years of sleuthing to locate, are now readily downloadable from the Web. One such set of documents is the transcripts of the meetings of the Federal Open Market Committee (FOMC) in 2007, all of which have now been released.

Let the First Home Vendors Grant die

Last week, several newspapers ran a story in which the Labor Opposition criticised the New South Wales Liberal government because the number of first home buyers had plunged after the first home owner’s grant was ended for existing homes. A photo of acting Opposition leader Linda Burney looking out sternly and sincerely accompanied the article, as she intoned in The Sydney Morning Herald’s text that the Liberals had abandoned first home buyers:

An apt insight

A friend just copied me the attached image. Apropos of current events. I can’t resist sharing it.

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