Monday, June 5, 2017

David Glasner kills Magic Walrus

Roy Radner and the Equilibrium of Plans, Prices and Price Expectations

A monetary dude refutes the bogus Magic assumptions, then references the paper above.  

He is still not up to speed with pure auto-traded cash, like we are, but he will get there. The point is that Magic Walrus central banking is pretty much a dead theory, though the fantasy still pays for some professors.

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