Nick Rowe

Nick Rowe, a Carleton University economics professor and monetary blogger, explains why money, not barter, makes macroeconomics unique. He discusses monetary-exchange interpretations of New Keynesian models. He calls helicopter money “small beer” and contrasts temporary versus permanent monetary tools. He uses vivid analogies like Milton Friedman's thermostat and a hub-and-spoke model to illuminate how money shocks ripple through the economy.