Here's a recent restatement by James Alexander, at Marcus Nunes' blog, of one of the tenets of market monetarism. That monetary policy - via financial markets - has its effects instantaneously, always, and that the 'long and variable lags' commented on by Milton Friedman, which this blog is named after, are a figment of mainstream monetary economists' imaginations.
Share this post
Infinitely short and not variable
Share this post
Here's a recent restatement by James Alexander, at Marcus Nunes' blog, of one of the tenets of market monetarism. That monetary policy - via financial markets - has its effects instantaneously, always, and that the 'long and variable lags' commented on by Milton Friedman, which this blog is named after, are a figment of mainstream monetary economists' imaginations.