I had heard of Selgin’s paper on the productivity norm (a policy of nominal income stabilization) before, but I had never read it. I’ve read it now, and it’s great! It explains a lot of the fundamentals of monetary economics, some of which I had understood before, and some of which I had not. It seems like a pretty good introductory piece on monetary economics; which is good since I was looking for one.

Nick Rowe’s posts (one, two) on macroeconomics and monopolistic competition discusses another important fundamental fact about monetary economics.