Wednesday , April 8 2020
Home / Brad Delong, Berkeley
The author Bradford DeLong
Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

Brad Delong, Berkeley

Three important questions to answer about U.S. financial stabilization policies amid the coronavirus recession

The Federal Reserve Board last month took extraordinary actions to deal with the financial shocks delivered by the coronavirus pandemic. And Fed action, in a number of ways, will determine how well the recently enacted $2.2 trillion Coronavirus Aid, Relief, and Economic Security, or CARES, Act deals with the looming coronavirus recession. Amid all of these fast-moving events, economists Emmanuel Saez and Gabriel Zucman at the University of California, Berkeley invited me to join an...

Read More »

JOLTS Day Graphs: February 2020 Report Edition

Every month the U.S. Bureau of Labor Statistics releases data on hiring, firing, and other labor market flows from the Job Openings and Labor Turnover Survey, better known as JOLTS. Today, the BLS released the latest data for February 2020. This report doesn’t get as much attention as the monthly Employment Situation Report, but it contains useful information about the state of the U.S. labor market. Below are a few key graphs using data from the report. 1. Two...

Read More »

An SEIR Infectious Disease Model with Testing and Conditional Quarantine

Download File040720-WP-SEIR Infectious Disease Model-Berger Herkenhoff and Mongey Authors: David Berger, Duke UniversityKyle Herkenhoff, University of MinnesotaSimon Mongey, University of Chicago Abstract: We extend the baseline Susceptible-Exposed-Infectious-Recovered (SEIR) infectious disease epidemiology model to understand the role of testing and case-dependent quarantine. Our model nests the SEIR model. During a period of asymptomatic infection,...

Read More »

The latest research on the public health and economic costs and benefits of containing the coronavirus pandemic

Scientists around the world are scrambling to find and test anti-viral drugs and a new vaccine for COVID-19, the disease behind the coronavirus pandemic now sweeping the planet. Economists and other social scientists are equally busy attempting to unravel the economic and social consequences of the new coronavirus pandemic. These scholars are looking at a range of issues. Several examine the public health and economic costs and benefits, and the overall efficacy of social distancing....

Read More »

Brad DeLong's Grasping Reality 2020-04-06 01:35:36

Ludwig Wittgenstein: Wittgenstein's Ladder https://en.wikipedia.org/wiki/Wittgenstein%27s_ladder: 'My propositions serve as elucidations in the following way: anyone who understands me eventually recognizes them as nonsensical, when he has used them—as steps—to climb beyond them. (He must, so to speak, throw away the ladder after he has climbed up it.) He must transcend these propositions, and then he will see the world aright...

Read More »

The Pattern of Normal Politics, 1870-1914: An Outtake from “Slouching Towards Utopia?: An Economic History of the Long 20th Century, 1870-2016”

Left-wing avowedly socialist—parties in pre-World War I Europe wanted, for the present, only weak tea. The Socialist Party of Germany’s Erfurt and Gotha programs seek things like: universal male and female suffrage; the secret ballot, proportional representation and an end to gerrymandering; annual government budgets; elected local administrators and judges; the right to bear arms; free public schools and colleges; free legal assistance; abolition of the death penalty; free medical care...

Read More »

Brad DeLong: Worthy reads on equitable growth, March 28-April 4, 2020

Worthy reads from Equitable Growth: The U.S. jobs market is going to get much worse. Read Kate Bahn and Carmen Sanchez-Cuming, “First jobs day report since the onset of the coronavirus recession exposes a U.S. Labor market in crisis,” in which they write: “The first Jobs Day report to capture … the coronavirus recession … after decades of rising economic inequality, the decline in the power of unions, and the erosion of the safety net, [means that] U.S. workers are...

Read More »

Weekend reading: Unemployment, low-wage workers, and the new coronavirus edition

This is a post we publish each Friday with links to articles that touch on economic inequality and growth. The first section is a round-up of what Equitable Growth published this week and the second is relevant and interesting articles we’re highlighting from elsewhere. We won’t be the first to share these articles, but we hope by taking a look back at the whole week, we can put them in context. Equitable Growth round-up Today’s Jobs Day report, along with yesterday’s record-breaking...

Read More »

Lecture: The Rise of Socialism, -350 to 1917

Let us talk about the rise of socialism, as background to the rise of really existing socialism—the system that lived behind what Winston Churchill called the Iron Curtain from 1917-1991, that shook the world, and that in the end turned out to be far, far, far from the brightest light on the tree of humanity’s good ideas. Let us very briefly race through history—moral, intellectual, political, and social—from the year -350 to the year 1917, when Lenin and his Bolshevik Communist Party...

Read More »