Hello Prof. Sumner! Thank you for taking our questions. Back in 2010, you offered some suggestions on using ones own money to set up some NGDP contracts on Intrade. You stress that in the absence of a subsidy from the Fed an NGDP Futures market, will be very low volume. 6 years later, do you still believe a Fed subsidy is necessary to the functioning of an NGDP Futures market? Or Has your view changed? (and if so, in what way).
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Hello Prof. Sumner! Thank you for taking our questions. Back in 2010, you offered some suggestions on using ones own money to set up some NGDP contracts on Intrade. You stress that in the absence of a subsidy from the Fed an NGDP Futures market, will be very low volume. 6 years later, do you still believe a Fed subsidy is necessary to the functioning of an NGDP Futures market? Or Has your view changed? (and if so, in what way).
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