17 items | 19 visits
(Not so) random links to readings relevant to macro
Updated on Mar 26, 12
Created on Dec 09, 09
Category: Others
URL:
Brad Delong on the Great Depression
Brad Delong: how to deal with the overhang from a burst bubble
But perhaps the problem isn’t Okun’s Law. Perhaps the problem is how we measure output growth. In fact, there are two measures of output growth—the usual measure, which adds up total spending in the economy, and the alternative, which adds up total income.
Blanchard, Macroeconomics, ch. 6.3-6.5 p.121
WASHINGTON — Now that unemployment has topped 10 percent, some liberal-leaning economists see confirmation of their warnings that the $787 billion stimulus package President Obama signed into law last February was way too small. The economy needs a second big infusion, they say.
Government Spending Multipliers Once Again
Since the WSJ is, essentially, rerunning op-eds:
Stimulus Spending Doesn't Work, by Robert Barro and Charles Redlick
May as well rerun a few of the responses:
War and non-remembrance, by Paul Krugman
Spending in wartime, by Paul Krugman
Paul Krugman on Robert Barro, by Brad DeLong
Fiscal Policy and Economic Recovery, by Christina D. Romer
A Pocketful of Multipliers
...or putting some bounds on the magnitudes of effects.
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Monetary-fiscal policy coordination
The Treasury publishes fiscal projections but these fall well short of policy commitments. Between Budgets, co-ordination depends on the attendance at the MPC of Treasury officials (who cannot generally make future commitments) and private discussions between the governor (who cannot commit the MPC) and the chancellor (who may not be able fully to commit the government).
17 items | 19 visits
(Not so) random links to readings relevant to macro
Updated on Mar 26, 12
Created on Dec 09, 09
Category: Others
URL: