How and Why to Eliminate the Zero Lower Bound (Part 2)
Part 1 is called “How and Why to Eliminate the Zero Lower Bound: A Reader’s Guide.” This is what is missing from Part 1because Tumblr has a limit on the total number of links in a single post.
Radio and Video Interaction
- Miles’s First Radio Interview on Electronic Money
- Miles on HuffPost Live: Debt, Electronic Money, Federal Lines of Credit, and a Public Contribution Program
- Miles on HuffPost Live: Barack Obama Talks about the Long Run, While We Wonder about His Pick for Fed Chief
- Cryptocurrencies: Is the Dollar Doomed? Video of a Discussion Between Miles Kimball, Justin Wolfers and Matt Yglesias on Electronic Money
- David Beckworth Interviews Miles Kimball: Macro Musings Podcast
History of Thought and Economic History
- More on the History of Thought for Negative Nominal Interest Rates
- Marvin Goodfriend on Electronic Money
- Willem Buiter: The Wonderful World of Negative Nominal Interest Rates, Again
- The Overton Window
- JP Koning: Does the Zero Lower Bound Exist Thanks to the Government’s Paper Currency Monopoly?
- Silvio Gesell’s Plan for Negative Nominal Interest Rates
- JP Koning—Transporting the Macroeconomics Blogosphere Back to 1809: Usury Laws and the 5% Upper Bound
- How Ben Franklin’s Plan for Seignorage Without Inflation Could Have Forestalled the American Revolution
- Henrik Jensen: Willem [Buiter] and the Negative Nominal Interest Rate
- JP Koning: The Zero Lower Bound as an Instance of Gresham’s Law in Reverse
- Robert Eisler—Stable Money: The Remedy for the Economic World Crisis. A Programme of Financial Reconstruction for the International Conference 1933. Chapter XVII: Compensating the Effects of Inflation on the Cost of Living (pp. 232—247).
- Three Revolutions
- Ken Rogoff: Paper Money is Unfit for a World of High Crime and Low Inflation
- Did the Gold Standard Help Bring Hitler to Power? (Twitter Round Table)
- Oliver Davies on the Morality of the Zero Lower Bound
- The Negative Zones
Q&A, Discussion and Rebuttal
- Pieria Debate on Electronic Money and Negative Rates
- What Bitcoin Tells Us About Electronic Money
- Getting Leeway on the Lower Bound for Interest Rates by Giving the Central Bank Standby Authority over Paper Currency Policy
- Q&A: How Can Electronic Money Eliminate Inflation?
- Time for the Paperless Revolution? Tomas Hirst Interviews Miles about Electronic Money
- Miles Kimball and Scott Sumner: Monetary Policy, the Zero Lower Bound and Madison, Wisconsin
- Interview by Joseph Sotinel for the French Website BFMBusiness about Electronic Money
- Reply to Bill Woolsey on the Possibility of Ending Recessions and Ending Inflation with Electronic Money and Negative Interest Rates
- Q&A on the Swiss National Bank’s Move to Negative Interest Rates
- Leon Berkelmans: Why Can’t Interest Rates Be Negative?
- Negative Interest Rates and Financial Stability: Alexander Trentin Interviews Miles Kimball
- Q&A: Is Electronic Money the Mark of the Beast?
- Negative Interest Rates and When Robots Will Set Monetary Policy: George Samman Interviews Miles Kimball
- JP Koning and Miles Kimball Discuss Negative Interest Rate Alternatives
- Tony Yates’s Worries about Breaking Through the Zero Lower Bound Are Unfounded for a System Built around Electronic Money that Keeps Paper Currency in a Subsidiary Role
- Is It a Problem for Negative Interest Rate Policy If People Hang On to Their Paper Currency?
- Suparit Suwanik: Putting Paper Currency In Its Proper Place
- Responding to Joseph Stiglitz on Negative Interest Rates
Storified Twitter Discussions
- Paper Currency Policy: A Primer
- Twitter Round Table on Our Disastrous Policy of Pegging Paper Currency at Par
- Gold, Electronic Money, and the Determinants of the Prices of Storable Commodities from the Ground
- Which is More Radical? Electronic Money or a Higher Inflation Target?
- Can Electronic Money Stimulate the Economy Even When Banks are Running Scared?
- The Politics of Electronic Money: Take 1
- Doubting Tomas: Electronic Money in an Open Economy with Wounded Banks
- Twitter Roundtable on Monetary Policy Tools and Targets
- Eliminating the Zero Lower Bound: An Introduction
- Adam Posen, Miles Kimball, Ritwik Priya and Tomas Hirst on Electronic Money vs. Central Bank Asset Purchases
- Ritwik Priya’s Estimates of the Costs of Paper Currency Storage (and Miles Kimball’s Discussion of Izabella Kaminska’s “The Base Money Confusion”)
- Legal Counterfeiting as a Way to Enforce a Ban on Paper Currency
- A Bit of Personal History of Thought: Zero Lower Bound–>Quantitative Easing–>Electronic Money Implementation Issues for Electronic Money
- The Politics of Electronic Money: Take 2
- JP Koning and David Beckworth on Negative Interest Rates in the Repo Market
- The Twitter Campaign for Repealing the Zero Lower Bound: September 2013
- Defending Negative Interest Rates Against All Comers
- Twitter Melee Over Negative Interest Rates
- Daniel Altman and Miles Kimball on the Long-Run Target for Inflation
- Preaching in the Temple: Presenting “Breaking Through the Zero Lower Bound” at the Fed
- Matthew C. Klein and Miles Kimball on the Effects of Negative Interest Rates on Savers
- Diego Espinosa and Miles Kimball on Bitcoin and Electronic Money
- Twitter Debate on Monetary vs. Fiscal Policy: Take 1
- Cryptocurrency Conference Tweets
- Q&A about Negative Interest Rates–The Centre for Monetary Advancement and Miles Kimball
- Are Central Banks Scared to Admit that the Zero Lower Bound is a Policy Choice, Not a Law of Nature?
- Negative Interest Rates, Helicopter Drops and NGDPLT– Matthew Klein, David Beckworth and Miles Kimball
- Tony Yates’s Worries about Breaking Through the Zero Lower Bound Are Unfounded for a System Built around Electronic Money that Keeps Paper Currency in a Subsidiary Role
- Are Negative Interest Rates a Drug That Requires Ever-Increasing Doses?
- Twitter Roundtable on Deep Negative Interest Rates
- Europe Needs Negative Rates, Higher Equity Requirements, Balanced Budgets and Supply-Side Reform
- Are Low Short-Term Interest Rates Bad for the Middle Class?
- Twitter Roundtable on the Power of Negative Interest Rates Compared to Other Stimulative Policies
- Does Economic Stability Inevitably Lead to Financial Fragility?
- Eric Lonergan and Miles Kimball Discuss the Transmission Mechanism for Negative Interest Rates
- The Fed Should Not Raise Rates Again Until It Says It Would Lower Rates Promptly If Later Data Suggests It Should
- Representative Agent Defends Negative Interest Rate Policy by Citing a Non-Representative Agent Model
- The Historical Effects of Monetary Policy Mistakes
- Sticky Prices, Sticky Inflation and the Cost of Inflation as Reflections of Cognitive Costs
- Negative Rate Policy in Switzerland, December 2014-September 2016
- Debating Higher Capital Requirements in the Light of the End of the Zero Lower Bound
- Will Negative Rates Cause Malinvestment? Will They Harm Banks?
Reactions
- Reihan Salam: “Miles Kimball on How Electronic Currency Could Yield True Price Stability”
- Tomas Hirst: Beware False Equivalence Between Depositor Haircuts and Negative Interest Rates
- Show Me the E-Money
- JP Koning Defends Electronic Money vis a vis Ashok Rao
- Matt Griffin: How Paul Krugman Convinced Me to Support Miles Kimball’s E-Money Idea
- The Institute for Social Research Summarizes the Argument for Electronic Money
- Izabella Kaminska: The Time for Official E-Money is NOW!
- David Beckworth: “Miles and Scott’s Excellent Adventure”
- David Beckworth: Has The Natural Interest Rate Been Negative for the Past Five Years?
- David Beckworth and Amir Sufi: What Caused The Great Recession? Household Deleveraging or ZLB?
- Von Günter Heismann in the Süddeutsche Zeitung: Economists Ken Rogoff and Miles Kimball Want to Abolish Cash
- Kim Schoenholtz and Stephen Cecchetti: Has Paper Money Outlived Its Purpose?
- David Beckworth on the Zero Lower Bound as a Price Floor
- Alexander Trentin: “Japan, It’s Time to Finally Overthrow Cash!”
- Oliver Davies and Miles Kimball on a Method for Nominal GDP Targeting
- Jake Weimar’s Rallying Cry for Electronic Money
- Michael Reddell: The Zero Lower Bound and Miles Kimball’s Visit to New Zealand
- Leon Berkelmans: Time to Consider Negative Interest Rates to Boost Growth
- Oliver Davies Argues for Negative Interest Rates instead of Helicopter Drops
- Mike Bird on Negative Interest Rate Policy | Business Insider
- Suparit Suwanik: Hope for a Phase-out of the 500 Euro Note
- Andrew Cuatto: Deus Ex Helicopter–Not
- Friends and Sparring Partners: The Skyline from My Corner of the Blogosphere