Helicopter Money Redux

Differences between printing presses, helicopter money, monetary financing, QE, etc…Helicopter money, Mainly Macro, 22 Oct 2014
The helicopter can drop money, gather bonds or just fly away, FT Alphaville, 12 Dec 2013
Helicopter money as a policy option, VoxEU, 20 May 2013
Helicopter money, VoxEU, 24 Feb 2013
Helicopter money, inflation targets and quantitative easing, Mainly Macro, 14 Jun 2012
Helicopter money: irredeemable fiat money and the liquidity trap, Willem Buiter, NBER WP 10163, Dec 2003

Also see this related post

Japan’s Quantitative Easing

Japan was an early adopter of quantitative easing following the country’s financial crisis at the start of the 1990s. The Bank of Japan is still struggling over twenty years on…<BoJ stuns investors by expanding monetary easing programme, Financial Times, 31 Oct 2014
Bank of Japan fails to meet bond-buying goal, Financial Times, 17 Oct 2014
Japan takes an introductory course in Abenomics, Financial Times, 7 Apr 2013
Q&A: What has the Bank of Japan done? Financial Times, 4 Apr 2013
Bank of Japan follows the Fed, on steroids, Financial Times, 4 Apr 2013
Bank of Japan statement, 4 Apr 2013

Deflation Dangers

Sharp falls in inflation expectations are challenging market assumptions about future rate hikes…
Deflation threat to Draghi’s credibility, Financial Times 16 Oct 2014
China inflation slips to near five-year low, Reuters, 15 Oct 2014
Rate expectations change faster than the data, Financial Times, 15 Oct 2014
On the oft-cited 5-year/5-year breakeven inflation rate (as a measure of inflation expectations) good places to start are…
Inflation Expectations: How the Market Speaks, FRBSF Economic Letter, 3 Oct 2005
FRED codes are T5YIFR (daily) and T5IFRM (monthly)

Assessing the risk to inflation from inflation expectations, BoE Quarterly Bulletin, 2014 Q2
Inflation Expectations in the Euro area: A review of recent developments, ECB Monthly Bulletin, Feb 2011 (the ECB regularly reports updates in its regular publications)

The IMF’s World Economic Reports often include estimated probabilities of deflation by global region. The October 2014 update can be found here.

A short primer on deflation was published by the St Louis FRB in February 2011: “Deflation: Who Let the Air Out?


Can low interest rates cause deflation? Some thoughts on the policy implications of the Fisher equation…
Monetary Policy with Interest On Reserves, The Grumpy Economist, 16 Oct 2014
Monetary Theory on the Neo-Fisherite Edge, Uneasy Money, 6 May 2014
The Cure for Neo-Fisherism: History, MacroMarketMusings, 28 Apr 2014
On the elimination of privately issued money, Financial Times, 25 Apr 2014
The Neo-Fisherite Rebellion, Noahpinion, 23 Apr 2014