Does real business cycle theory ignore depressions?
10 Mar 2020 Leave a comment
in budget deficits, business cycles, econometerics, economic growth, economic history, Edward Prescott, Euro crisis, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, labour economics, labour supply, macroeconomics, monetarism, monetary economics, public economics, Robert E. Lucas Tags: real business cycle theory
Prescott on real business cycle theory ignoring depressions
08 Mar 2020 Leave a comment
in budget deficits, business cycles, economic growth, economic history, Edward Prescott, Euro crisis, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, labour supply, macroeconomics, monetary economics Tags: real business cycle theory
Scandinavian welfare states free-ride
08 Mar 2020 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, constitutional political economy, economic growth, economics of education, economics of information, economics of regulation, entrepreneurship, F.A. Hayek, history of economic thought, human capital, income redistribution, industrial organisation, international economics, law and economics, macroeconomics, poverty and inequality, property rights, Public Choice, public economics Tags: creative destruction, taxation and entrepreneurship, taxation and investment, taxation and labour supply
Only 2 general purpose technologies in the 20th century?
07 Mar 2020 Leave a comment
in applied price theory, economic growth, economic history, economics of education, energy economics, entrepreneurship, financial economics, history of economic thought, human capital, industrial organisation, labour economics, labour supply, macroeconomics, managerial economics, occupational choice, organisational economics, survivor principle Tags: creative destruction, general purpose technologies
Thomas Humphrey recall Ricardo and Thornton on monetary policy and supply shocks
04 Mar 2020 Leave a comment
in business cycles, economic growth, fiscal policy, history of economic thought, labour economics, labour supply, macroeconomics, monetary economics, Thomas M. Humphrey Tags: monetary policy, real business cycle theory
An old issue is in the news
02 Mar 2020 Leave a comment
in business cycles, history of economic thought, macroeconomics, monetary economics
New classical macroeconomics and real business cycle theory are different macroeconomic schools
28 Feb 2020 Leave a comment
Lucas and Sargent (1979) on propagation in equilibrium business cycle models
28 Feb 2020 Leave a comment
What is New Keynesian macroeconomics?
27 Feb 2020 Leave a comment
in business cycles, economic growth, fiscal policy, history of economic thought, labour economics, Milton Friedman, monetarism, monetary economics
Does neoclassical macroeconomics rule out depressions?
27 Feb 2020 Leave a comment
in business cycles, econometerics, economic history, Edward Prescott, global financial crisis (GFC), great depression, great recession, history of economic thought, job search and matching, labour economics, labour supply, macroeconomics, monetary economics, politics - USA, public economics, Robert E. Lucas, unemployment, unions Tags: Keynesian macroeconomics, new classical macroeconomics, New Keynesian macroeconomics, real business cycle theory
A methodological trip-wire for macroeconomic theories
26 Feb 2020 Leave a comment
in applied price theory, business cycles, history of economic thought, macroeconomics, monetary economics
Small bills are a big problem as I remember from handling dirty, disgusting Philippine pesos that were never taken out of circulation. Yuk
26 Feb 2020 Leave a comment
in development economics, history of economic thought, monetary economics
From https://www.press.umich.edu/pdf/9780472116317-ch1.pdf
The shortage of small bills in the Philippines became critical around election time because there is such a need for bribe money for voters. 300 pesos each was usually delivered to every door.
Utopia, you are standing in it! 
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