Five Economic Paragraphs Worth Reading: December 22, 2009
links for 2009-12-23

Picking Up Nickels in Front of the Steamroller: A Simple and Partial Finger Exercise

Okun gaps, monetary accommodation, speculator overoptimism, bailouts, carry trades, bubbles, and taking away the punchbowl before the party really gets rolling. Alas! A risk neutral model, but still one that I think is of considerable use in clarifying a whole bunch of issues...

20091222 delong picking up nickels.pdf