A neo-Fisherian experiment that hedges its New Keynesian bets
Long and variable on the interpretation of Fisherbequating relating growth and inflation.
My interpretation is that mids-pricings of the past get paid off later, the original monetary shock tending to neutrality. That is a Hamiltonian division between wealth on the ledger and wealth still in the pits. We would expect a semi-random exchange between the two forms of wealth. We get quantum mechanical as the pits stay bounded in matching error.
No comments:
Post a Comment