Monday, August 19, 2013
is FED policy all about anchoring "output price inflation expectations" or tar pit-ing job markets ?
"anchoring and re anchoring inflation expectations"
what a con job that is eh comrades
these anchors look to be unable to hold us in place
even in the slightest of storm currents
but this anchor conceit
a bum figure anyway
its a drag not an anchor
a drag where?
in the calculator of market pricing deciders ?
we have no model of price setting
luckily for our professors from OZ
this is not a problem
up there in OZ
with angelic grace
the OZIAN hosts
have self atomized both themselves
their N product and M job markets
making every agent into a complete price taker
Posted by Owen Paine at 1:07 PM