The view of the leading Market Monetarists is that the Great Recession was not caused by a banking crisis but rather by excessively tight monetary policy

On this day ten years ago I published a Working Paper on Marcus Nunes' blog "The Faint of Heart" with the title "Market Monetarism - The Second Monetarist Counter-revolution".

This is the so-called Monetary Disorder view of the Great Recession.

Market Monetarists recommend targeting the Nominal GDP (NGDP) level. 

The Market Monetarist 13 September 2021

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