New New Keynesian control instrument coming soon.

It's Friday.
I don't know Canadian Aqua .
Does mostly Canadian/Econ/data.
Doesn't have many followers.
Should probably have some more.

I wrote this WCI post on Mulroney's economic legacy when his memoirs were published in 2007. There are some elements that need updating, but the main points still stand.

worthwhile.typepad.com/worthwhile_can…

Makes me happy to see one of my old blog posts still being read, liked, and shared.
worthwhile.typepad.com/worthwhile_can…

A conversation with David Laidler on a distinguished career in macroeconomics

thegeneraltheorist.com/2023/10/29/a-c…

Maybe the bond market got fed up waiting, and decided to solve the equity premium puzzle itself.

Is lawrencewhhite (with that spelling) a fake?

An Act Utilitarian asks:
1. 'Is it best for the Bank of Canada to set r=5%?'

A Rule Utilitarian asks:
1. 'Is it best for the Bank of Canada to target 2% inflation?'
2. 'Does setting r=5% best hit that 2% inflation target?'

Big difference. Lots of confused arguments. 1/?