Ellen McGrattan on New Keynesian macroeconomic policy
02 May 2020 Leave a comment
in business cycles, great recession, job search and matching, labour economics, labour supply, macroeconomics, monetary economics
Thomas Sargent 2013 MACROECONOMIC THEORY AND THE CRISIS
01 May 2020 Leave a comment
in budget deficits, business cycles, economic growth, economic history, Euro crisis, financial economics, fiscal policy, global financial crisis (GFC), great depression, great recession, macroeconomics, Milton Friedman, monetarism, monetary economics, Robert E. Lucas Tags: sovereign debt crises, sovereign defaults
John Cochrane on quantitative easing not mattering much
01 May 2020 Leave a comment
in business cycles, financial economics, macroeconomics, monetary economics, politics - USA
Majority saved $750 #COVID19 stimulus payment! Friedman’s permanent income hypothesis rules
01 May 2020 Leave a comment
in budget deficits, business cycles, financial economics, fiscal policy, macroeconomics, Milton Friedman, monetary economics, unemployment Tags: offsetting behaviour, permanent income hypothesis, The fatal conceit, unintended consequences
Great depression unemployment rates
30 Apr 2020 Leave a comment
in business cycles, economic growth, economic history, fiscal policy, great depression, labour economics, labour supply, macroeconomics, monetary economics, public economics, unemployment Tags: Keynesian macroeconomics
Source Sinclair Davidson
Do economists ignore the impact of debt on the business cycle?
29 Apr 2020 Leave a comment
in business cycles, economic history, financial economics, global financial crisis (GFC), great depression, great recession, history of economic thought, macroeconomics, monetarism, monetary economics Tags: Keynesian macroeconomics, New Keynesian macroeconomics
Edward Prescott on the unimportance of monetary policy
29 Apr 2020 Leave a comment
in business cycles, economic history, Edward Prescott, financial economics, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, macroeconomics, monetary economics
See lecture at https://www.mediatheque.lindau-nobel.org/videos/37267/panel-conditions-monetary-fiscal-policy/laureate-prescott
Edward Prescott, co-recipient of the Nobel Prize in 2004, took a different view in a presentation with the title ‘The Unimportance of Monetary Policy and Financial Crises on Output and Unemployment’. He cited financial crises that saw countries experiencing contrasting outcomes at the same time: the US and Asia in the 2008 crisis; Chile and Mexico in 1980; and Scandinavia and Japan in 1992.
‘Financial crises do not impede development,’ he claimed. While the 2008 financial crisis was localised in North America and the euro area, there was a short recession and quick recovery in Japan, Taiwan and South Korea and no recession in Scandinavia and Australia. ‘Countries where fiscal policy was irresponsible had problems’, he maintained. ‘Fiscal responsibility is crucial: to spend is to tax and to tax is to depress. That’s what happens every time.’
Edward C. Prescott on monetary policy
28 Apr 2020 Leave a comment
in business cycles, econometerics, economic history, Edward Prescott, financial economics, global financial crisis (GFC), great depression, great recession, inflation targeting, macroeconomics, monetary economics, Robert E. Lucas Tags: monetary policy
The Destabilizing Consequences of Central Banking
27 Apr 2020 Leave a comment
in Austrian economics, business cycles, economic history, financial economics, macroeconomics, monetary economics Tags: economics of banking, free banking, monetary policy
John Cochrane explains helicopter drops
25 Apr 2020 Leave a comment
in business cycles, financial economics, fiscal policy, macroeconomics, Milton Friedman, monetarism, monetary economics, politics - New Zealand, public economics
The majority of travel and tourism unemployment for the next year will be mismatch unemployment
23 Apr 2020 Leave a comment
in business cycles, economic growth, economics of education, human capital, job search and matching, labour economics, labour supply, macroeconomics, occupational choice, unemployment
The Fed and Lehman Brothers: setting the record straight on a financial disaster
23 Apr 2020 Leave a comment
in business cycles, financial economics, global financial crisis (GFC), macroeconomics, monetary economics Tags: banking panics
Utopia, you are standing in it! 
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