Williamson and Wright on sticky prices making sense
18 Jul 2019 Leave a comment
in applied price theory, business cycles, economics of information, industrial organisation, job search and matching, labour economics, labour supply, macroeconomics, monetary economics, survivor principle, Thomas M. Humphrey Tags: New Keynesian macroeconomics, sticky prices
Global and Korean economic forecasts by Edward Prescott
17 Jul 2019 Leave a comment
in budget deficits, business cycles, development economics, economic growth, Edward Prescott, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, growth miracles, macroeconomics, monetary economics Tags: real business cycles
The Giant Underground Tunnels Protecting Tokyo From Floods
15 Jul 2019 Leave a comment
in business cycles, economic growth, economics of bureaucracy, economics of natural disasters, fiscal policy, macroeconomics, Public Choice, rentseeking Tags: Japan
FGV/EPGE – 3rd Conference Business Cycles – Edward C. Prescott 2/15
14 Jul 2019 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, macroeconomics, monetary economics Tags: real business cycles
The Nobel Lecture: Equilibrium in the Labour Market with Search Frictions
14 Jul 2019 Leave a comment
in business cycles, labour economics, labour supply, macroeconomics, unemployment, unions, welfare reform Tags: job search, labour market search, search and matching
Edward Prescott on monetary policy and the business cycle
06 Jul 2019 Leave a comment
in business cycles, Edward Prescott, macroeconomics, monetary economics
From Five Macroeconomic Myths
Prescott, Edward C.
Wall Street Journal
11 Dec 2006.
Edward Prescott on Japan’s Lost Decade and the end of the 6-day working week
06 Jul 2019 Leave a comment
in business cycles, economic growth, economics of regulation, Edward Prescott, labour supply
How neoclassical are New Keynesian dynamic stochastic general equilibrium models?
01 Jul 2019 Leave a comment
in business cycles, history of economic thought, macroeconomics
In sum, New Keynesian models are most certainly not reincarnations of textbook IS–LM models with maximization added on. Rather, they are real business cycle models augmented with a few distortions—typically sticky prices and monopoly power—and shocks that do little to contribute to fluctuations or influence the nature of optimal policy
From Kehoe, Patrick J., Virgiliu Midrigan, and Elena Pastorino. 2018. “Evolution of Modern Business Cycle Models: Accounting for the Great Recession.” Journal of Economic Perspectives, 32 (3): 141-66.
From Champ and Freeman
01 Jul 2019 Leave a comment
in business cycles, econometerics, macroeconomics, monetary economics Tags: monetary neutrality
Utopia, you are standing in it! 
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