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Ideas for an Alternative Monetary Future

Alt-M

Ideas for an Alternative Monetary Future

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Output Gap

interest on excess reserves, output gap, debt monetization, fiscal policy, federal deficit
Booms & Busts, Financial Markets, Money & Politics

The Output Gap, the Federal Budget Deficit, and the Threat of Debt Monetization

Larry White/May 15, 2018June 19, 2022

In April 2018 Congressional Budget Office issued a report on the state of the federal budget in light of the “Tax Cuts and Jobs Act” enacted in December 2017,  the “Bipartisan Budget Act” enacted in February 2018, and the “Consolidated Appropriations Act” enacted in March. The CBO…

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housing bubble, market monetarism, capital stock, output gap, white
Booms & Busts, Economic Thought, The Fed & Central Banks

Two Ways of Viewing Capital and Real GDP Since 2000

Larry White/June 7, 2016June 19, 2022

In the closing paragraph of my last entry I offered two hypotheses about the post-2008 US economy.  The first is that “real GDP has shifted to a lower path because of a shrinkage in the economy’s productive capital stock — a problem that better monetary policy (not…

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Nominal GDP, Output Gap, productiviy, resource misallocation, velocity of money
Booms & Busts, The Fed & Central Banks

Some Simple Monetarist Arithmetic of the Great Recession and Recovery

Larry White/May 18, 2016June 19, 2022

The familiar chart below illustrates the depth of the decline in real output during the 2007-09 Great Recession (the shaded period), and the failure of the recovery to return real output to its “potential” path (in other words, to eliminate the estimated “output gap”) during the subsequent…

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Contributors

  • James Dorn
  • Jennifer Schulp
  • George Selgin
  • Norbert Michel
  • Larry White
  • Alan Reynolds

Categories

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  • Working Papers (7)

Recent Posts

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About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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