Comments on: The Macroeconomics of Unobservable Expectations http://www.arnoldkling.com/blog/the-macroeconomics-of-unobservable-expectations/ taking the most charitable view of those who disagree Mon, 21 Dec 2020 12:46:27 +0000 hourly 1 https://wordpress.org/?v=4.0.32 By: A http://www.arnoldkling.com/blog/the-macroeconomics-of-unobservable-expectations/#comment-450092 Tue, 05 Aug 2014 21:30:41 +0000 http://www.arnoldkling.com/blog/?p=3692#comment-450092 Effem, that scenario might support Sumner’s argument. The society reaches such a levered state as a result of nominal expectations. Overleverage is the condition where those expectations are adjusted downwards.

]]> By: Yancey Ward http://www.arnoldkling.com/blog/the-macroeconomics-of-unobservable-expectations/#comment-450091 Tue, 05 Aug 2014 21:29:32 +0000 http://www.arnoldkling.com/blog/?p=3692#comment-450091 Yeah, this idea doesn’t make any sense.

]]> By: Andrew' http://www.arnoldkling.com/blog/the-macroeconomics-of-unobservable-expectations/#comment-450090 Tue, 05 Aug 2014 21:11:32 +0000 http://www.arnoldkling.com/blog/?p=3692#comment-450090 Subsidized in a way that is information-neutral?

]]> By: Handle http://www.arnoldkling.com/blog/the-macroeconomics-of-unobservable-expectations/#comment-450087 Tue, 05 Aug 2014 18:54:08 +0000 http://www.arnoldkling.com/blog/?p=3692#comment-450087 To be fairer to Scott Sumner, he admits that NGDP-futures markets would have to be generously subsidized to provide enough incentive to produce good market information for the entire term structure instead of just a year.

]]> By: Yancey Ward http://www.arnoldkling.com/blog/the-macroeconomics-of-unobservable-expectations/#comment-450082 Tue, 05 Aug 2014 16:10:39 +0000 http://www.arnoldkling.com/blog/?p=3692#comment-450082 You can buy oil futures 8 years into the future.

]]> By: Effem http://www.arnoldkling.com/blog/the-macroeconomics-of-unobservable-expectations/#comment-450081 Tue, 05 Aug 2014 15:08:33 +0000 http://www.arnoldkling.com/blog/?p=3692#comment-450081 I’m more inclined to think that demand drops are the result of fears that the economy as currently structured is not able to handle a small dip in NGDP (e.g., overleveraged).

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