tag:blogger.com,1999:blog-5404820640426099135.post6664221674409797840..comments2023-10-31T00:46:35.316+13:00Comments on Anti-Dismal: Are you serious Mr. Stiglitz?Paul Walkerhttp://www.blogger.com/profile/13731003529546075700noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5404820640426099135.post-78472596729750345892008-07-11T10:16:00.000+12:002008-07-11T10:16:00.000+12:00I have to admit that Stiglitz talk in Wellington d...I have to admit that Stiglitz talk in Wellington disappointed me immensely.<BR/><BR/>Here was an intelligent economist bagging inflation targeting because "we can't do much about the world price of oil going up" - so central banks were wrong. He Ignored that central Banks will realise that this was:<BR/><BR/>a) a price level shock, not inflation<BR/>b) potentially a change in relative prices <BR/><BR/>As a result the Bank will look past it (if expectations are effectively anchored).<BR/><BR/>He seems to have dumped intellectual rigor for populist statementsMatt Nolanhttps://www.blogger.com/profile/05615455113796090765noreply@blogger.com