Emeritus Prof Christopher May on Nostr: nprofile1q…3ehds I'm just on my way out..... but a quick answer would be it all ...
nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpqsgl760yugx9xr4adwc5v4sx9zjajrhccq4zauz66v33tfc67npjqg3ehds (nprofile…ehds)
I'm just on my way out..... but a quick answer would be it all depends on how far you think the UK Govt. could push credit creation (similar to QE) in a the current market environment;
Murphy would see that as pretty feasible, constricted by the policy attitudes in the BoE), whereas Stevenson, no doubt see the problem of appetite of market traders (who in that sense are the 'market') for further UK public debt & at what price/yield.
I'm nearer Murphy!
Hope that helps
I'm just on my way out..... but a quick answer would be it all depends on how far you think the UK Govt. could push credit creation (similar to QE) in a the current market environment;
Murphy would see that as pretty feasible, constricted by the policy attitudes in the BoE), whereas Stevenson, no doubt see the problem of appetite of market traders (who in that sense are the 'market') for further UK public debt & at what price/yield.
I'm nearer Murphy!
Hope that helps