Monday, May 16, 2011

Agreement Manku

I agree with Paul
Such a mistake to target
volatile prices.

Or, in the actual words of Greg Mankiw,
As my regular blog readers know, Paul Krugman and I often do not see eye to eye. So, once in a while, it might be useful to point out those times when we actually agree.

In a recent post on commodity prices, Paul says, "Volatile prices are volatile, which is why they shouldn’t be used to determine monetary policy." I agree, and I suspect many other macroeconomists would as well.
I hear he likes haikus. I do too.

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