@jvtklooster https://t.co/GwRcrbnHaR @MonnetEric
Now might be a good time to think about Controlling Credit https://t.co/FwIXXHSwrB
@MaxJerneck @JWMason1 @_TimBarker @Lprochon @jcbecker_econ @NathanTankus Yes! I keep coming back to credit policies as a part of a system of economic planning as I try to understand the best response to inflationary pressures. https://t.co/CvoHQJ5EiH
RT @rohangrey: @sjwrenlewis @clintballinger @JoMicheII There are more ways of managing private investment demand than simply adjusting inte…
RT @rohangrey: @sjwrenlewis @clintballinger @JoMicheII There are more ways of managing private investment demand than simply adjusting inte…
RT @rohangrey: @sjwrenlewis @clintballinger @JoMicheII There are more ways of managing private investment demand than simply adjusting inte…
RT @rohangrey: @sjwrenlewis @clintballinger @JoMicheII There are more ways of managing private investment demand than simply adjusting inte…
Dans cette journée de joie pour lui, le plus bel hommage que l'on peut faire au grand économiste - historien @MonnetEric est de lire ce livre. 👇 https://t.co/GJcu1xpOHQ
@TylerABallard @GeorgeSelgin "Raising interest rates has always been Central Banks *main* course of action to combat inflation" - what an incredibly inaccurate statement (unless your interest in this topic is limited to Volcker/post-Volcker). See here: htt
@mullymt @pseudonymble @georgep4 @ne0liberal Ah yes famously no one ever successfully ran a monetary policy regime on that basis. Sure would suck if there was extensively documented history showing that to be completely false. https://t.co/k4jWLEuywk
@LawrenceLepard Highly recommend this book: The biden admin plan. Controlling Credit: Central... https://t.co/vYW0nVA6Hw
RT @rohangrey: @cullenroche @MayankSeksaria @TheStalwart @DeficitOwl24601 As for whether there's empirical evidence of credit regulation -…
@MayankSeksaria @cullenroche @TheStalwart @DeficitOwl24601 "cant adjusting rates control inflation? it can" here means Volcker-style mass recession, not tinkering around a few basis points. the latter is not proved to deal with large-scale inflation at all
@cullenroche @MayankSeksaria @TheStalwart @DeficitOwl24601 As for whether there's empirical evidence of credit regulation - there is, plenty. https://t.co/k4jWLEMHKs
@conorsen @TheStalwart The recommendation is for the Fed to tighten financial conditions without raising rates - something central banks have plenty of experience in across the world as people like Eric Monnet, whose work we've pushed for years, have argue
The policy reminds us of Europe after WWII described by @MonnetEric in his book https://t.co/lpoq6UcCEg. The policy described by Dikau and Volz is assess using the best methods in qualitative analysis and is very convincing. Instead of using needlessly com
@rkaji170684 En este libro en la introducción hay un excelente análisis de este tema https://t.co/1I6PppjgV9
@jmmendozabd @costenoliberta @Lucasfriedmanjr ... La historia monetaria de Francia,https://t.co/ctgyLOdKRV
@MikRaczynski @rafalhirsch @TheStalwart Caly blueprint na 'pomysl MMT na inflacje' znajduje sie tutaj: https://t.co/3yfUYNuUOz
@yevshrag Have you read https://t.co/QycQpOquCw
@vtg2 @pearkes @IrvingSwisher @rortybomb @AlanZibel It depends on what the punishment is. There's definitely a ton of historical evidence of financial regulations being used to stop or reduce funding for specific activities. Check out in particular @Monnet
@KeithBurgessFCF @Glossator13 @AriDavidPaul @TheStalwart @knlae_ I don't think that's the inherent tradeoff. There are other ways to directly regulate asset prices without reliance on a single lever of paying interest on govt liabilities. See, e.g. https:
@ChrisShaver64 @ectowulf @NathanTankus @StephanieKelton If what you're referring to is Volcker, no, i think that's a particularly tendentious view that reflects dominant ideology more than empirical fact. Plenty of examples of successful non-interest rate
@ayanhme @_TimBarker Thanks. Argument further developped in this book (in english), with attempt to apply it to other countries. 1 key insight is that social/political base was different between money targeting and free market policies https://t.co/MMT8S0r
@pseudoerasmus One cannot address this question without considering the many first attempts to liberalize financial and industrial systems in the 60s. The 70s crisis was in part a failure of those early attempts, as I argued here. It's a kind of internal
RT @rohangrey: @rammbling @cate_long @StephanieKelton @RobinBrooksIIF Plenty. Qualitative and quantitative credit regulation, liquidity res…
@Andrew_DK @mucha_carlos @cate_long @StephanieKelton @RobinBrooksIIF a) we already do it to a degree, we just aren't explicit or intentional about it because it strains the fiction that monetary policy works like New Keynesian models say it does b) direct
@rammbling @cate_long @StephanieKelton @RobinBrooksIIF Plenty. Qualitative and quantitative credit regulation, liquidity reserve requirements on non-financial institutions, etc. The "interest rates uber alles" monetary policy framework was an Anglo-centric
@interfluidity @ndrew_bunker Doesn't need to be. In fact central banks around the world spent decades managing hot economies with non-interest rate tools. We can demand that again instead of snapping back to New Keynesian rate-fetishism. https://t.co/k4j
Merci @benjlemoine sur le fond et la forme de ce thread très efficace...Non, les tabous ne sont pas encore tombés, en effet....
RT @benjlemoine: 17. Une nouvelle représentation de l’État, des possibles économiques et de la finance. C’ est raconté ici : https://t.co/…
17. Une nouvelle représentation de l’État, des possibles économiques et de la finance. C’ est raconté ici : https://t.co/stWdVPoLcZ… et par @ericmonnet ici https://t.co/ILew87SoP2
@JHWeissmann @ogallalaknowhow And you don't need to "picture" it as if it's some hypothetical. There is a long history of central banks using non-interest rate tools to control inflation, it's just mostly been forgot by the orthodox econs you take your cue
@darioperkins @NickPinkston I don't agree with that view at all and don't think it is supported by the broader history of the use of credit regulation. Monnet's recent book is great on this. https://t.co/k4jWLEuywk
@FabienBossy @NicolasGoetzman @mclucal @CHColombier @ericlonners Très intéressant: à se demander parfois si les services de la banque centrale qui s'occupent de supervision bancaire n'ont pas plus d'effet sur l'éco réelle que les taux et le QE.😉 Sur l'his
RT @MonnetEric: Happy to announce the publication of my book 'Controlling Credit'! (for real) @CambridgeUP https://t.co/lc7gyTC1S2 https:/…
یک کتاب عالی در این زمینه: https://t.co/MOoGOEXEJE https://t.co/KSOgwvdoVn
@rsampognaro1982 @nico_dufrene @mkessler_DC @picharbonnier @AuroreLalucq @jcs_mbf @LaurenceScialom @GaelGiraud_CNRS @alaingrandjean merci. Il est disponible sur le site de l'éditeur ou chez d'autres librairies en ligne comme Lavoisier etc. https://t.co/lS4
RT @MonnetEric: @paldama @lemondefr Interessant. Si @MoecGilles veut un livre plus récent que celui de JP Patat sur la politique monétaire…
@paldama @lemondefr Interessant. Si @MoecGilles veut un livre plus récent que celui de JP Patat sur la politique monétaire et d'investissement d'après-guerre, je lui conseille immodestement celui-ci :-) https://t.co/x0i6mVs1fI
RT @MonnetEric: Happy to announce the publication of my book 'Controlling Credit'! (for real) @CambridgeUP https://t.co/lc7gyTC1S2 https:/…
@GrkStav Tankus mentioned this recently, I want to get into it if ever have the time https://t.co/FwIXXHAV31
RT @rohangrey: @dandevoss @ZacGross @chrisedmond @StevenHailAus @BruceJPreston Eh, I do. Quantitative and qualitative credit regulations do…
@dandevoss @ZacGross @chrisedmond @StevenHailAus @BruceJPreston Eh, I do. Quantitative and qualitative credit regulations don't require assets to sell. Plenty of ways to tighten private credit activity even without fiscal adjustment. https://t.co/k4jWL
RT @rohangrey: @sjwrenlewis @MaxJerneck @JoMicheII manage demand and stabilize prices alongside fiscal policy, albeit not ones that rely on…
@sjwrenlewis @MaxJerneck @JoMicheII manage demand and stabilize prices alongside fiscal policy, albeit not ones that rely on adjustments to single interest rate or rate curve. Policies like the ones pursued by many central banks prior to the 1980s as Eric
@Plumazul @MpeterF @paulkrugman @StephanieKelton @tymoignee @stf18 Yes. There are many ways of honoring that mandate that don't involve adjusting interest rates. https://t.co/k4jWLEM9UU
@sjwrenlewis @nevin_simon @MMTLabour @MacRoweNick It's also the basis for the major shift in central bank policy during the postwar period, as Monnet's recent book shows. https://t.co/k4jWLEM9UU The "MMT are fiscalists" framing is a strawman and you shou
RT @rohangrey: @sjwrenlewis @clintballinger @JoMicheII There are more ways of managing private investment demand than simply adjusting inte…
@sjwrenlewis @clintballinger @JoMicheII There are more ways of managing private investment demand than simply adjusting interest rates. See, e.g., https://t.co/k4jWLEM9UU
@jonsindreu @Claudia_Sahm @TimDuy Yeah, and @MonnetEric's work indicates that the death of credit controls as a primary demand tool among CBers across the rest of the world began with the US-UK nexus and was pushed out in a pretty imperialist way. https:/
RT @MonnetEric: Happy to announce the publication of my book 'Controlling Credit'! (for real) @CambridgeUP https://t.co/lc7gyTC1S2 https:/…
RT @MonnetEric: Happy to announce the publication of my book 'Controlling Credit'! (for real) @CambridgeUP https://t.co/lc7gyTC1S2 https:/…
RT @MonnetEric: Happy to announce the publication of my book 'Controlling Credit'! (for real) @CambridgeUP https://t.co/lc7gyTC1S2 https:/…
RT @MonnetEric: Happy to announce the publication of my book 'Controlling Credit'! (for real) @CambridgeUP https://t.co/lc7gyTC1S2 https:/…
RT @rohangrey: @BudgetBen @NathanTankus @AlanMCole @ernietedeschi Form of publicly subsidized spending is a horrible way to conduct demand-…
RT @rohangrey: @BudgetBen @NathanTankus @AlanMCole @ernietedeschi Form of publicly subsidized spending is a horrible way to conduct demand-…
@BudgetBen @NathanTankus @AlanMCole @ernietedeschi Form of publicly subsidized spending is a horrible way to conduct demand-management policy. Also, dismissing credit regulation is a classic imperialist anglocentric move. The world deserves better: https
RT @gabriel_mathy: @mioana @besttrousers @Noahpinion @IvanWerning @SBenzell For example of credit controls as monetary policy management, p…
@LibDemStephen @mioana @StephanieKelton @paulkrugman @Noahpinion There are plenty of other cases. France, for example: https://t.co/UlcikK9yGU
RT @CambUP_Econ: New in paperback! Controlling Credit | Monnet analyzes monetary and central bank policy during the mid-twentieth century t…
RT @rgbetancourt: Super @MonnetEric ! https://t.co/ufssaN1MVE
RT @rgbetancourt: Super @MonnetEric ! https://t.co/ufssaN1MVE
Super @MonnetEric !
New in paperback! Controlling Credit | Monnet analyzes monetary and central bank policy during the mid-twentieth century through close examination of the Banque de France. https://t.co/yp3D165BDt #Economics https://t.co/jgNjTleuY2
@paldama @alban_pellegris @Mathieu_Cocq @ordrespontane Tout cela expliqué (et avec les chiffres) dans chp 5 si ça peut intéresser https://t.co/lS4e2loBm5
RT @MonnetEric: Thanks Benjamin https://t.co/y9DKgHl4Nd
RT @MonnetEric: Thanks Benjamin https://t.co/y9DKgHl4Nd
Thanks Benjamin
RT @BJMbraun: An excellent place to start to correct this misperception: @MonnetEric's 'Controlling Credit'. For decades nobody at the Banq…
RT @BJMbraun: An excellent place to start to correct this misperception: @MonnetEric's 'Controlling Credit'. For decades nobody at the Banq…
An excellent place to start to correct this misperception: @MonnetEric's 'Controlling Credit'. For decades nobody at the Banque de France and elsewhere thought credit policy was 'crazy'. 3/3 https://t.co/FeOkPqHhwh
@derrickokeefe @stevenmklein A few things (maybe you've seen): - @JWMason1 on finance as planner https://t.co/hGfpElPrbw - Eric Monnet's book Controlling Credit (central banking and planning in post-war France) https://t.co/jyjYPM3Emh - @BJMbraun recent ch
RT @MonnetEric: Happy to announce the publication of my book 'Controlling Credit'! (for real) @CambridgeUP https://t.co/lc7gyTC1S2 https:/…
@1954swilliamson God forbid central banks get involved in the allocation of credit! https://t.co/k4jWLEM9UU
@OliverPicek The erasure of credit policy as a valid tool of central banking is Anglocentric and arguably imperialist. https://t.co/k4jWLEM9UU
@jeffspross France and other countries, credit controls were used extensively rather than interest rates for much of the post-war period until the Anglo central banking model took hold globally: https://t.co/k4jWLEM9UU
RT @rohangrey: @arindube @katiecannon2 @StephanieKelton Credit policy, for one. https://t.co/k4jWLEM9UU We also go into detail here: ht…
@arindube @katiecannon2 @StephanieKelton Credit policy, for one. https://t.co/k4jWLEM9UU We also go into detail here: https://t.co/4y70ruk5sr Closing your eyes and claiming that you can't see things in front of you doesn't mean they don't actually exi
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
@MonnetEric indeed related to our conversation last time :)
RT @rohangrey: @dandolfa @darioperkins @DavidBeckworth @mucha_carlos @TheStalwart @cullenroche controls on credit were preferable to increa…
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
RT @interfluidity: one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is a…
one way of viewing the latest MMT debates (which have been extraordinarily productive, whatever your headline view) is as a contest between a "one simple lever" to stabilize the economy worldview ("the" interest rate, except in extraordinary times), and an
RT @rohangrey: @TheStalwart @cullenroche @dandolfa @david_glasner @DavidBeckworth @mucha_carlos I agree it's complicated. But macroprudenti…