Category Archives: macroeconomics

Nobel Symposium Harald Uhlig Modern DSGE models: Theory and evidence

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The Queen didn’t ask Keynesians about not predicting the 1970s stagflation, a phenomenon their macroeconomics strictly forbade

Source: Kehoe, Midrigan and Pastorino 2018.

Johan Norberg – Swedish Myths and Realities

Suppose human capital doubled but the economic growth rate did not change a bit

 

 

Source: Le, T., Gibson, J., & Oxley, L. (2006). A forward-looking measure of the stock of human capital in New Zealand. Manchester School74(5), updated and with additional analysis by Trinh Le of the 2006 and 2013 census for the Treasury (the 2006 and 2013 analysis is unpublished).

What was the wedge issue for voters at the height of the Great Depression?