New articles at Global Economic Intersect for September 10:
· Does the Money Multiplier Exist? by Edward Harrison
The vaunted concept of the money multiplier is merely an ex post accounting factor. The logic of why it is not an ex ante factor is amazingly simple. Read the full article.
· The Trade Balance in July 2010 May Be Down (or Up) by Steven Hansen
The trade balance may have grown in July 2010, the opposite of the statement in the US Census press release. The monkey wrench is inconsistent seasonal data. Read the full article.
New article at Global Economic Intersect for September 11:
· Is the Trade Balance Making Any Stimulus Ineffective? by Steven Hansen
Open trade borders leak (money flows). Stimulus done in one country alone will benefit its trading partners more – as they did not have to invest any capital to be stimulated. Economic data for the week ia reviewed. Read the full article.