Leaders
Brad Delong, Berkeley
-
Weekend Reading: John Maynard Keynes (1937): How to Avoid a Slump
It is natural to interject that it is premature to abate our efforts to increase employment so long as the figures of unemployment remain so large. In a sense this must be true. But I believe that we are approaching, or have reached, the point where there is not much advantage in applying a further general stimulus at the centre. So long as surplus resources were widely diffused between industries and localities it was no great matter at...
Read more » -
Brad DeLong's Grasping Reality 2019-06-24 20:12:05
-
Weekend Reading: Discussion of J. Bradford DeLong and Lawrence H. Summers: “Fiscal Policy in a Depressed Economy
-
Brad DeLong's Grasping Reality 2019-06-22 18:02:53
-
Brad DeLong's Grasping Reality 2019-06-22 18:01:49
-
Brad DeLong's Grasping Reality 2019-06-22 18:00:05
-
Brad DeLong's Grasping Reality 2019-06-22 17:57:40
Cyril Morong: Dangerous Economist
-
Is the interest rate the Fed pays banks on reserves now more important than the Federal Funds Rate?
The Federal Funds Rate is set (maybe influenced is better) by the Fed. It is what banks pay each other when they borrow to meat their required reserves. But this market is smaller than it used to be. So maybe the Federal Funds Rate is not what matters any more. And maybe the sectors of the economy that are most affected by interest rates make up less of the GDP than they used to.See Has the Federal Reserve Lost Its Mojo? The central bank has...
Read more » -
What about all this plastic pollution?
-
Do We Have A Zombie Economy?
-
Over 40 years, 70% of the population made it into the top 20% of earners for at least one year
-
Are Farmers Markets An Example Of Perfect Competition?
-
Joseph Schumpeter, Capitalism and Intellectuals
-
Is there really a shortage of construction workers?
David Flynn: Barter is Evil
-
Initial Unemployment Claims in ND
Rather than simply looking at conventional measures like the unemployment rate in North Dakota, I thought it time to look at other measures to forecast, such an initial unemployment claims. There are some manipulating needed to the series but here is a look at the raw data. There clearly is a degree of seasonality and some other cyclical issues to tackle, though by and large the series is fairly stable and pretty low in terms of the...
Read more » -
Interest rate decreases are a cure in search of an ailment
-
North Dakota Unemployment Rate, April 2019
-
Why a trade war with Mexico is a bigger deal
-
Mortgage & Rent in ND Counties
-
Metro Area Income in North Dakota
-
Natural Increase in North Dakota
Economonitor
-
Global trade: from ‘rule of law’ to ‘law of the jungle’
Instead of rule of law, the US’s bilateral handling of its super-strong market condition resembles the law of the jungle Friday night, US President Donald Trump announced by Twitter that he would suspend the implementation of tariffs on Mexican imports, which would start with 5% on Monday, June 10, to reach 25% in October. A signed agreement between the two countries, also confirmed by Twitter by Mexico’s foreign minister Marcelo Ebrard,...
Read more » -
Middle Income Countries and Multilateral Banks – Traps on the Way to Graduation
-
Afghan Conflict: Root Cause, Economic Impact and Reconciliation
-
Trump’s Economic Coercion Backfires in Iraq
-
Poverty reduction in Brazil… partially gone with the cycle
-
Traps on the Road to High Income
-
For Some Ag Companies, Pesticides Are Already on Their Way Out
FT Alphaville
-
Why closed-loop systems like Libra won’t change the world
It's T+4 since Facebook revealed details of its audacious plan to take over the global monetary system with a cross between a weirdo multi-currency-board type thing and a global digital reserve. Facebook is insisting the system is decentralised because “blockchain”. And that it's fully universal and democratic because, erm, “blockchain”. Alphaville, if you hadn't noticed, isn't so sure.Questions not yet answered include:1) Would people banned...
Read more » -
Yesterday, in efficient markets
-
Nouriel Roubini outlines the 2020 recession risk
-
Further reading
-
Nouriel Roubini on the US-China Thucydides Trap
-
Snap AV: UBS on banks and tech
-
Further reading
Greg Mankiw
-
Not So Fast
Washington Post columnist Robert Samuelson argues "It’s time we tear up our economics textbooks and start over." He uses my book as a prime example. Perhaps not surprisingly, I disagree. My summary of Samuelson's article: Economics textbooks should be more like economics journalism, says an economics journalist.Mr. Samuelson fails to fully appreciate the difference between journalism and textbook writing. Journalists are always...
Read more » -
The National Debt Is Still a Problem
-
Bowles and Carlin on Econ 101
-
Teaching Intermediate Macro
-
The Phillips curve is alive and well
-
The Next CBO Director
-
The Fed should monitor wage trends
Jeffrey Frankel’s Blog
-
Tenth birthday of the June 2009 recovery
TweetJune 17, 2019 — This month marks the 10th birthday of the US economic recovery. June 2009 saw the “trough,” the end of the Great Recession of 2007-09. (As always, a declaration that the recession was over could as easily have been phrased less cheerfully as a declaration that the economy had hit “rock bottom.”) Why such a long expansion? Who or what deserves credit for the length of the expansion? There is plenty of credit to be parsed...
Read more » -
Remembering Martin Feldstein
-
The Trade War Resumes
-
Moore on Gold and Commodities
-
Moore Troubles for the Fed
-
Xi & Trump Miss a Chance to Expand Markets
-
Bold Ideas are Not Always Better than Old Ideas
John B. Taylor
-
Let’s Twist Again with Online Econ 1
This summer we will be offering Stanford’s Principles of Economics course online. As explained in this Wall Street Journal article, “A Twist in Online Learning at Stanford,” the twist again is that we’ll offer it both (1) to the general public and (2) for credit to matriculated Stanford students, incoming freshman, and visiting students in the Stanford Summer School. Those seeking credit can register here for the for-credit course, which is...
Read more » -
A Revival of Research on Monetary Policy Rules for the Instruments
-
Currencies, Capital, Central Bank Balances — 5th in a Series
-
A Different Kind of Revisiting the 2008 Financial Crisis
-
Now They’re All Saying “It’s Time to Write Chapter 14 into Law”
-
Three Attributes of a Sustainable Open and Stable Global Order
-
Econ 1, Tiger Woods, and the [email protected]
Miles Kimball
-
Data on Asian Genes that Discourage Alcohol Consumption Explode the Myth that a Little Alcohol is Good for your Health
Link to the Lancet article shown above. All images in this post are from this article. Many people have taken comfort from news reports suggesting that moderate drinking is healthy. The top three graphs in the panel below, from a recent study of hundreds of thousands of Chinese drinkers and non-drinkers, confirm the kind of stylized facts that have led people to believe this. As the authors of “Conventional and genetic evidence on alcohol and...
Read more » -
Claudia Sahm’s Anti-Recession Rule
-
Chris Kimball: Grief in the Journey
-
The Tree of Life Web Project: A Cool Website Implementing a Giant Cladogram
-
Peter Orszag on Alan Krueger’s New Book ‘Rockonomics’—and on Alan Krueger
-
JP Koning on Ill-Considered Government Policies Standing in the Way of the Emergence of the Digital Cash that Can Eliminate Any Lower Bound on Interest Rates
-
Noah Smith: America’s Battle Over Housing Is Just Getting Started
Offsetting Behaviour
-
Do flat taxes make sense? Depends on your goal.
Stuff's Susan Edmunds got in touch asking whether flat taxes work. I was pretty long-winded, so only some of my comments could possibly be used. Here's what I'd sent through. Enjoy! People’s views on flat taxes will depend on their views of the desirable overall size and scope of government. It is difficult to finance a large redistributive state on a 17.5% flat tax – the Crown gets a very large proportion of its revenue from income tax...
Read more » -
A world without opportunity costs?
-
Google keeps making our lives better
-
For want of a CURF
-
Haidt!
-
A sugar intervention that actually looks promising
-
Afternoon roundup
Microeconomic Insights
-
Market power and the Laffer curve
Summary Arthur Laffer, who was recently awarded the Presidential Medal of Freedom, is famous for sketching an inverted U-shaped diagram of the supposed trade-off between tax rates and tax revenues. The Laffer curve originates from the economist’s 1974 conversation with Wall Street Journal reporter Jude Wanniski, and politicians Dick Cheney and Donald Rumsfeld. During the meeting, Laffer...
Read more » -
How management practices drive firms’ performance in the long run: evidence from the Marshall Plan
-
How management practices drive firms’ performance in the long run: evidence from the Marshall Plan
-
The value of international business relationships: insights from Kenya’s rose exporters
-
The value of international business relationships: insights from Kenya’s rose exporters
-
Taxing family income: the effects on marriage and how time and resources are shared within households
-
Taxing family income: the effects on marriage and how time and resources are shared within households
Simon Wren-Lewis
-
Why austerity is not Labour’s Legacy
On the relationship between finance and fiscal policy When Momentum put out this tweet following the latest spat between Corbyn and Blair“Blair favoured deregulation of the banking industry - leading to one of the worst crashes in modern history. While spending on public services was higher, his legacy will ultimately be the austerity that followed his failure to stand up to big finance.” I responded with this“This is parroting the Tory line...
Read more » -
For too many Conservatives there is no spoon
-
Bill Mitchell’s fantasy about Labour’s fiscal rule
-
Is Labour’s fiscal policy rule neoliberal?
-
After the Peterborough victory, has Labour’s Brexit policy been redeemed?
-
Labour’s position on Brexit is not a compromise, but is taking the wrong side
-
The response to the European elections will define politics for some time
T. Cowen: Marginal Revolution
-
Those new (?) service sector jobs
Teen mail boat jumpers: “Rain or shine won’t keep these mail jumpers from their appointed rounds. Each year a bunch of high school seniors try out as mail jumpers on Wisconsin’s Lake Geneva and it may be the best summer job ever. The challenge is to dash to the mailbox and race back to the boat before it pulls away. The boat slows down but never stops so you have to…” Via Jamie Jenkins. The post Those new (?) service sector jobs appeared...
Read more » -
Monday assorted links
-
The Economist covers Why Are the Prices So D*mn High?
-
We place too much weight on redundant information
-
Is the generalist returning?
-
Why aren’t remote interviews as useful as face-to-face interactions?
-
Sunday assorted links
Worthwhile Canadian Initiative
-
Reflections on Westeros
Well, it is the May long weekend and a celebration of Queen Victoria but this year it has also coincided with the end of Game of Thrones and its own set of Kings, Queens and associated dysfunctional noble figures. There has been a lot of angst expressed about how inadequate the final season has been in terms of plot and character development and the reviews are mixed, but I will leave such matters to others. I want to focus on some other...
Read more » -
Why do I have to collect my pension already?
-
Accounting Identities and the Implicit Theory of Inertia
-
Fiat Bling
-
The Hospitalization Life Cycle
-
About that EKOS poll
-
Robinson Crusoe and the Carbon Tax
Ben Bernanke at Brookings
-
Evaluating lower-for-longer policies: Temporary price-level targeting
By Ben S. Bernanke Despite a long and sustained recovery from the Great Recession, a number of factors—including an aging population, slow productivity growth, and subdued inflation—continue to exert downward pressure on U.S. interest rates. It seems likely that even when monetary policy is at a neutral setting, neither restraining nor stimulating the economy, interest rates will remain significantly lower than in recent decades. One...
Read more » -
The housing bubble, the credit crunch, and the Great Recession: A reply to Paul Krugman
-
Financial panic and credit disruptions in the 2007-09 crisis
-
Temporary price-level targeting: An alternative framework for monetary policy
-
When growth is not enough
-
Some reflections on Japanese monetary policy
-
The zero lower bound on interest rates: How should the Fed respond?
David Andolfatto: Macro Mania
-
The Phillips Curve in Recession and Recovery
The Phillips curve can mean one of two conceptually distinct things (which are sometimes confused). First, the Phillips curve may simply refer to a statistical property of the data--for example, what is the correlation between inflation and unemployment (either unconditionally, or controlling for a set of factors)? Second, the Phillips curve may refer to a theoretical mechanism--why does inflation and unemployment exhibit the statistical...
Read more » -
Is the U.S. budget deficit sustainable?
-
Is the ZLB an economic or legal constraint?
-
The Chicago Booth Survey on MMT
-
Sustainable deficits
-
Is Neo-Fisherism Nuts?
-
When is more competition bad?
Free Exchange Economist
-
Has BRICS lived up to expectations?
DOES anyone still care about the BRICS? Brazil, Russia, India, China and South Africa concluded their tenth official summit in Johannesburg on July 26th. The widespread perception is that the group has failed to live up to the hype the acronym helped to generate. But that is only half true.The combined GDP of the original quartet (which did not include South Africa) is actually far bigger in dollar terms than Goldman Sachs envisaged when they...
Read more » -
Podcast: Super Mario to the rescue
-
Europe inches closer to a plan for fixing its financial flaws
-
Is there a wage growth puzzle in America?
-
The Nobel in economics rewards a pioneer of “nudges”
-
Podcast: Goodbye, Benito
-
Republicans grouse about tax models they once supported
Telegraph Blog
-
Opinion
Your support makes a big difference In order to bring you award-winning content and investigative journalism from your favourite writers, we rely on revenue generated by advertising. Please consider supporting us by turning off your ad blocker.Just a couple of clicks will make a big difference. Thank you.
Read more » -
Why David Cameron will struggle to out-Ukip Ukip on EU migration
-
David Cameron promises to withdraw Britain from the European Union (yes – I mean it)
-
Germany’s Eurosceptic AfD spells end to Europe’s false calm, warns S&P
-
The truth about smoking – it saves the public purse a lot of money
-
The Unionist way forward
-
Scottish referendum: Out of the frying pan into the fire
Free Exchange Economist
-
Has BRICS lived up to expectations?
DOES anyone still care about the BRICS? Brazil, Russia, India, China and South Africa concluded their tenth official summit in Johannesburg on July 26th. The widespread perception is that the group has failed to live up to the hype the acronym helped to generate. But that is only half true.The combined GDP of the original quartet (which did not include South Africa) is actually far bigger in dollar terms than Goldman Sachs envisaged when they...
Read more » -
Podcast: Super Mario to the rescue
-
Europe inches closer to a plan for fixing its financial flaws
-
Is there a wage growth puzzle in America?
-
The Nobel in economics rewards a pioneer of “nudges”
-
Podcast: Goodbye, Benito
-
Republicans grouse about tax models they once supported
John B. Taylor
-
Let’s Twist Again with Online Econ 1
This summer we will be offering Stanford’s Principles of Economics course online. As explained in this Wall Street Journal article, “A Twist in Online Learning at Stanford,” the twist again is that we’ll offer it both (1) to the general public and (2) for credit to matriculated Stanford students, incoming freshman, and visiting students in the Stanford Summer School. Those seeking credit can register here for the for-credit course, which is...
Read more » -
A Revival of Research on Monetary Policy Rules for the Instruments
-
Currencies, Capital, Central Bank Balances — 5th in a Series
-
A Different Kind of Revisiting the 2008 Financial Crisis
-
Now They’re All Saying “It’s Time to Write Chapter 14 into Law”
-
Three Attributes of a Sustainable Open and Stable Global Order
-
Econ 1, Tiger Woods, and the [email protected]
Roger Farmer’s Economic Window
-
The Future of Macroeconomics
In May of 2018, I was privileged to be invited to participate in an ECB colloquium on the Future of Central Banking and Macroeconomics in honour of Vítor Constâncio. Here is a video of my ten minute discussion of a paper by John Muellbauer.This discussion reflects my thinking on many topics including hysteresis, multiple equilibria ...
Read more » -
Why the Indeterminacy Agenda Matters in the Real World
-
Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.
-
There are many unemployment rates for any r*
-
Why deficits are sustainable and inflation has a life of its own
-
Social Progress is not an Illusion
-
Don’t Trust the Markets
Telegraph Blog
-
Opinion
Your support makes a big difference In order to bring you award-winning content and investigative journalism from your favourite writers, we rely on revenue generated by advertising. Please consider supporting us by turning off your ad blocker.Just a couple of clicks will make a big difference. Thank you.
Read more » -
Why David Cameron will struggle to out-Ukip Ukip on EU migration
-
David Cameron promises to withdraw Britain from the European Union (yes – I mean it)
-
Germany’s Eurosceptic AfD spells end to Europe’s false calm, warns S&P
-
The truth about smoking – it saves the public purse a lot of money
-
The Unionist way forward
-
Scottish referendum: Out of the frying pan into the fire
Free Exchange Economist
-
Has BRICS lived up to expectations?
DOES anyone still care about the BRICS? Brazil, Russia, India, China and South Africa concluded their tenth official summit in Johannesburg on July 26th. The widespread perception is that the group has failed to live up to the hype the acronym helped to generate. But that is only half true.The combined GDP of the original quartet (which did not include South Africa) is actually far bigger in dollar terms than Goldman Sachs envisaged when they...
Read more » -
Podcast: Super Mario to the rescue
-
Europe inches closer to a plan for fixing its financial flaws
-
Is there a wage growth puzzle in America?
-
The Nobel in economics rewards a pioneer of “nudges”
-
Podcast: Goodbye, Benito
-
Republicans grouse about tax models they once supported
Free Exchange Economist
-
Has BRICS lived up to expectations?
DOES anyone still care about the BRICS? Brazil, Russia, India, China and South Africa concluded their tenth official summit in Johannesburg on July 26th. The widespread perception is that the group has failed to live up to the hype the acronym helped to generate. But that is only half true.The combined GDP of the original quartet (which did not include South Africa) is actually far bigger in dollar terms than Goldman Sachs envisaged when they...
Read more » -
Podcast: Super Mario to the rescue
-
Europe inches closer to a plan for fixing its financial flaws
-
Is there a wage growth puzzle in America?
-
The Nobel in economics rewards a pioneer of “nudges”
-
Podcast: Goodbye, Benito
-
Republicans grouse about tax models they once supported
Simon Wren-Lewis
-
Why austerity is not Labour’s Legacy
On the relationship between finance and fiscal policy When Momentum put out this tweet following the latest spat between Corbyn and Blair“Blair favoured deregulation of the banking industry - leading to one of the worst crashes in modern history. While spending on public services was higher, his legacy will ultimately be the austerity that followed his failure to stand up to big finance.” I responded with this“This is parroting the Tory line...
Read more » -
For too many Conservatives there is no spoon
-
Bill Mitchell’s fantasy about Labour’s fiscal rule
-
Is Labour’s fiscal policy rule neoliberal?
-
After the Peterborough victory, has Labour’s Brexit policy been redeemed?
-
Labour’s position on Brexit is not a compromise, but is taking the wrong side
-
The response to the European elections will define politics for some time
Jeffrey Frankel’s Blog
-
Tenth birthday of the June 2009 recovery
TweetJune 17, 2019 — This month marks the 10th birthday of the US economic recovery. June 2009 saw the “trough,” the end of the Great Recession of 2007-09. (As always, a declaration that the recession was over could as easily have been phrased less cheerfully as a declaration that the economy had hit “rock bottom.”) Why such a long expansion? Who or what deserves credit for the length of the expansion? There is plenty of credit to be parsed...
Read more » -
Remembering Martin Feldstein
-
The Trade War Resumes
-
Moore on Gold and Commodities
-
Moore Troubles for the Fed
-
Xi & Trump Miss a Chance to Expand Markets
-
Bold Ideas are Not Always Better than Old Ideas
Greg Mankiw
-
Not So Fast
Washington Post columnist Robert Samuelson argues "It’s time we tear up our economics textbooks and start over." He uses my book as a prime example. Perhaps not surprisingly, I disagree. My summary of Samuelson's article: Economics textbooks should be more like economics journalism, says an economics journalist.Mr. Samuelson fails to fully appreciate the difference between journalism and textbook writing. Journalists are always...
Read more » -
The National Debt Is Still a Problem
-
Bowles and Carlin on Econ 101
-
Teaching Intermediate Macro
-
The Phillips curve is alive and well
-
The Next CBO Director
-
The Fed should monitor wage trends
Miles Kimball
-
Data on Asian Genes that Discourage Alcohol Consumption Explode the Myth that a Little Alcohol is Good for your Health
Link to the Lancet article shown above. All images in this post are from this article. Many people have taken comfort from news reports suggesting that moderate drinking is healthy. The top three graphs in the panel below, from a recent study of hundreds of thousands of Chinese drinkers and non-drinkers, confirm the kind of stylized facts that have led people to believe this. As the authors of “Conventional and genetic evidence on alcohol and...
Read more » -
Claudia Sahm’s Anti-Recession Rule
-
Chris Kimball: Grief in the Journey
-
The Tree of Life Web Project: A Cool Website Implementing a Giant Cladogram
-
Peter Orszag on Alan Krueger’s New Book ‘Rockonomics’—and on Alan Krueger
-
JP Koning on Ill-Considered Government Policies Standing in the Way of the Emergence of the Digital Cash that Can Eliminate Any Lower Bound on Interest Rates
-
Noah Smith: America’s Battle Over Housing Is Just Getting Started
Worthwhile Canadian Initiative
-
Reflections on Westeros
Well, it is the May long weekend and a celebration of Queen Victoria but this year it has also coincided with the end of Game of Thrones and its own set of Kings, Queens and associated dysfunctional noble figures. There has been a lot of angst expressed about how inadequate the final season has been in terms of plot and character development and the reviews are mixed, but I will leave such matters to others. I want to focus on some other...
Read more » -
Why do I have to collect my pension already?
-
Accounting Identities and the Implicit Theory of Inertia
-
Fiat Bling
-
The Hospitalization Life Cycle
-
About that EKOS poll
-
Robinson Crusoe and the Carbon Tax
Telegraph Blog
-
Opinion
Your support makes a big difference In order to bring you award-winning content and investigative journalism from your favourite writers, we rely on revenue generated by advertising. Please consider supporting us by turning off your ad blocker.Just a couple of clicks will make a big difference. Thank you.
Read more » -
Why David Cameron will struggle to out-Ukip Ukip on EU migration
-
David Cameron promises to withdraw Britain from the European Union (yes – I mean it)
-
Germany’s Eurosceptic AfD spells end to Europe’s false calm, warns S&P
-
The truth about smoking – it saves the public purse a lot of money
-
The Unionist way forward
-
Scottish referendum: Out of the frying pan into the fire
Economonitor
-
Global trade: from ‘rule of law’ to ‘law of the jungle’
Instead of rule of law, the US’s bilateral handling of its super-strong market condition resembles the law of the jungle Friday night, US President Donald Trump announced by Twitter that he would suspend the implementation of tariffs on Mexican imports, which would start with 5% on Monday, June 10, to reach 25% in October. A signed agreement between the two countries, also confirmed by Twitter by Mexico’s foreign minister Marcelo Ebrard,...
Read more » -
Middle Income Countries and Multilateral Banks – Traps on the Way to Graduation
-
Afghan Conflict: Root Cause, Economic Impact and Reconciliation
-
Trump’s Economic Coercion Backfires in Iraq
-
Poverty reduction in Brazil… partially gone with the cycle
-
Traps on the Road to High Income
-
For Some Ag Companies, Pesticides Are Already on Their Way Out
Macro and Other Market Musings
-
New Articles on NGDP Targeting
Just a quick note on a couple of my papers that recently got published. First, Josh Hendrickson and I published in the Journal of Money, Credit, and Banking earlier this year with an article titled "Nominal GDP Targeting and the Taylor Rule on an Even Playing Field". Here is the abstract: Some economists advocate nominal GDP targeting as an alternative to the Taylor Rule. These arguments are largely based on the idea that nominal...
Read more » -
Is the Fed’s Floor System Beginning to Fold?
-
Is Low Inflation Really a Mystery?
-
The FOMC Decision: A NGDP Perspective
-
Oh, the Horror of a Corridor!
-
How Close is the Fed to a Corridor System?
-
A Risk Sharing View of Monetary Policy
John B. Taylor
-
Let’s Twist Again with Online Econ 1
This summer we will be offering Stanford’s Principles of Economics course online. As explained in this Wall Street Journal article, “A Twist in Online Learning at Stanford,” the twist again is that we’ll offer it both (1) to the general public and (2) for credit to matriculated Stanford students, incoming freshman, and visiting students in the Stanford Summer School. Those seeking credit can register here for the for-credit course, which is...
Read more » -
A Revival of Research on Monetary Policy Rules for the Instruments
-
Currencies, Capital, Central Bank Balances — 5th in a Series
-
A Different Kind of Revisiting the 2008 Financial Crisis
-
Now They’re All Saying “It’s Time to Write Chapter 14 into Law”
-
Three Attributes of a Sustainable Open and Stable Global Order
-
Econ 1, Tiger Woods, and the [email protected]
Roger Farmer’s Economic Window
-
The Future of Macroeconomics
In May of 2018, I was privileged to be invited to participate in an ECB colloquium on the Future of Central Banking and Macroeconomics in honour of Vítor Constâncio. Here is a video of my ten minute discussion of a paper by John Muellbauer.This discussion reflects my thinking on many topics including hysteresis, multiple equilibria ...
Read more » -
Why the Indeterminacy Agenda Matters in the Real World
-
Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.
-
There are many unemployment rates for any r*
-
Why deficits are sustainable and inflation has a life of its own
-
Social Progress is not an Illusion
-
Don’t Trust the Markets
Jeffrey Frankel’s Blog
-
Tenth birthday of the June 2009 recovery
TweetJune 17, 2019 — This month marks the 10th birthday of the US economic recovery. June 2009 saw the “trough,” the end of the Great Recession of 2007-09. (As always, a declaration that the recession was over could as easily have been phrased less cheerfully as a declaration that the economy had hit “rock bottom.”) Why such a long expansion? Who or what deserves credit for the length of the expansion? There is plenty of credit to be parsed...
Read more » -
Remembering Martin Feldstein
-
The Trade War Resumes
-
Moore on Gold and Commodities
-
Moore Troubles for the Fed
-
Xi & Trump Miss a Chance to Expand Markets
-
Bold Ideas are Not Always Better than Old Ideas
Brad Delong, Berkeley
-
Weekend Reading: John Maynard Keynes (1937): How to Avoid a Slump
It is natural to interject that it is premature to abate our efforts to increase employment so long as the figures of unemployment remain so large. In a sense this must be true. But I believe that we are approaching, or have reached, the point where there is not much advantage in applying a further general stimulus at the centre. So long as surplus resources were widely diffused between industries and localities it was no great matter at...
Read more » -
Brad DeLong's Grasping Reality 2019-06-24 20:12:05
-
Weekend Reading: Discussion of J. Bradford DeLong and Lawrence H. Summers: “Fiscal Policy in a Depressed Economy
-
Brad DeLong's Grasping Reality 2019-06-22 18:02:53
-
Brad DeLong's Grasping Reality 2019-06-22 18:01:49
-
Brad DeLong's Grasping Reality 2019-06-22 18:00:05
-
Brad DeLong's Grasping Reality 2019-06-22 17:57:40
Telegraph Blog
-
Opinion
Your support makes a big difference In order to bring you award-winning content and investigative journalism from your favourite writers, we rely on revenue generated by advertising. Please consider supporting us by turning off your ad blocker.Just a couple of clicks will make a big difference. Thank you.
Read more » -
Why David Cameron will struggle to out-Ukip Ukip on EU migration
-
David Cameron promises to withdraw Britain from the European Union (yes – I mean it)
-
Germany’s Eurosceptic AfD spells end to Europe’s false calm, warns S&P
-
The truth about smoking – it saves the public purse a lot of money
-
The Unionist way forward
-
Scottish referendum: Out of the frying pan into the fire