Procrastinating on May 30, 2017

Should-Read: Nick Bunker: What unconventional policies are likely to stay in central bankers’ toolkits?: "Blinder... Ehrmann... de Haan... and... Jansen... academic economists... and central bankers...

...Academics appear to be much more willing to keep the new unconventional tools.... 68 percent of the surveyed academics want to keep quantitative easing.... Compare that with the 35 percent of central bankers.... Academics, about 69 percent of them, favor data-based forward guidance.... Central bankers tend to prefer more qualitative forward guidance.... Academics and central bankers also should consider the policies they didn’t pull out during the panic, such as nominal gross domestic product targeting. Remember that several unconventional ideas back in 2007 eventually became real-world policy. Who knows what the next downturn might require central bankers to turn to spark a turnaround.