Procrastinating on June 5, 2017
Monday Smackdown: Yes, The Hoover Institution Made a Bad Mistake in Hiring John Cochrane. Why Do You Ask?

Should-Read: Nick Bunker: Monetary policy via income redistribution: "Combining these three redistribution channels... http://equitablegrowth.org/equitablog/value-added/monetary-policy-via-income-redistribution/

...Auclert finds that shifting incomes among households and individuals may be about as important to boosting total consumption as the well-known substitution effect. If that’s true, then it certainly would put a new spin on how researchers and policymakers think about what factors, including inequality, are going to make monetary policy more effective. Auclert says that his work is “very much a first pass.” Given the potential implications of this research, other passes as this line of research would be welcome...

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