These are my links for January 18th through January 21st:
- How Likely Is Hyperinflation? — The American, A Magazine of Ideas – But does this mean that inflation may evolve into a hyperinflation in the United States? I believe not. Though it is true that budget deficits with government expenditures covered by 40 percent or more through credits have historically led to hyperinflation, it has been stressed in Monetary Regimes and Inflation that it is not only the size of these credits but also their composition that is important. .. the U.S. deficit, by far not all of the credits borrowed by the government were financed by the Fed. According to preliminary and rough estimates, not 40 percent but "only“ about 13 percent of U.S. expenditures are presently financed this way.
- The truth about all those excess reserves | The Economist – ONE of the biggest challenges facing the Fed is widespread ignorance about how it actually operates. Inflation is falling, unemployment is 10%, yet some people think it’s running an inflationary policy because an extra $1 trillion of reserves are in the banking system.
The misperception has only grown with yesterday’s announcement that the Fed would offer “term deposits” to banks as a way of draining some of the excess reserves its emergency operations have created. The move has been widely reported as aimed at keeping banks from lending the reserves out, which would spur inflation
- Economagic: Economic Time Series Page – This page is meant to be a comprehensive site of free, easily available economic time series data useful for economic research, in particular economic forecasting. This site (set of web pages) was started in 1996 to help students in an Applied Forecasting class. The idea was to give students easy access to large amounts of data, and to be able to quickly get charts of that data. This is also useful during class, so that when we use the computer and overhead projector facility in class, we can quickly retrieve series and do manipulations in class.
At this time, there are more than 200,000 time series for which data and custom charts can be retrieved. Though the greatest utility of this site is the vast number of economic time series, and the easily modified charts of that same data, an overlooked facility of great utility is the availability of Excel files for all series.
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- Philosophical Methodologies.pdf (application/pdf Object) – Methodology is understood here to include methods, approaches, and styles, which are not always easy to separate. This article deals with all three, focusing on ones that have been influential in Australasia, or have developed there, through the efforts of thinkers who have either been born in Australasia, or trained or worked there for a significant period: conceptual analysis, reflective equilibrium, and naturalism