Nobel Symposium Ellen Mcgrattan Modern DSGE models: Theory and evidence
16 Aug 2018 Leave a comment
in business cycles, economic growth, global financial crisis (GFC), great recession, macroeconomics Tags: real business cycles
From Lucas and Sargent’s After Keynesian Macroeconomics 1979
15 Aug 2018 Leave a comment
in budget deficits, business cycles, economic growth, great recession, history of economic thought, macroeconomics, monetary economics, Robert E. Lucas Tags: conjecture and refutation, Keynesian macroeconomics, stagflation, Thomas Sargent

The Queen didn’t ask Keynesians about not predicting the 1970s stagflation, a phenomenon their macroeconomics strictly forbade
15 Aug 2018 2 Comments
in budget deficits, business cycles, economic growth, economic history, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, macroeconomics, monetary economics Tags: conjecture and refutation, Keynesian macroeconomics, stagflation

Source: Kehoe, Midrigan and Pastorino 2018.
Johan Norberg – Swedish Myths and Realities
08 Aug 2018 Leave a comment
in applied price theory, comparative institutional analysis, economic growth, economic history, economics of regulation, entrepreneurship, income redistribution, industrial organisation, international economics, labour economics, labour supply, macroeconomics, Public Choice, public economics, survivor principle, welfare reform Tags: Sweden
Free To Choose 1980 – The Power of the Market – Hong Kong
08 Aug 2018 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic growth, economic history, economics of regulation, growth miracles, industrial organisation, labour economics, law and economics, Milton Friedman, poverty and inequality Tags: Hong Kong, The Great Fact
Hardly any GDP growth bump from doubling investment in education!
07 Aug 2018 Leave a comment
in economic growth, economics of education, human capital, labour economics, macroeconomics Tags: College premium, signalling

New Keynesian macroeconomics isn’t a progressive research programme
06 Aug 2018 Leave a comment
in budget deficits, business cycles, economic growth, fiscal policy, great depression, history of economic thought, macroeconomics, monetarism, monetary economics, Robert E. Lucas Tags: New Keynesian macroeconomics

Suppose human capital doubled but the economic growth rate did not change a bit
31 Jul 2018 Leave a comment
in economic growth, economics of education, human capital

Source: Le, T., Gibson, J., & Oxley, L. (2006). A forward-looking measure of the stock of human capital in New Zealand. Manchester School, 74(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).
Nice one
28 Jul 2018 Leave a comment
in development economics, economic growth, macroeconomics Tags: pessimism bias, The Great Enrichment

My favorite Greg Mankiw quote on the influence of modern macroeconomics
26 Jul 2018 Leave a comment
in budget deficits, business cycles, economic growth, fiscal policy, global financial crisis (GFC), great depression, great recession, macroeconomics, monetarism, monetary economics Tags: Greg Mankiw

Randall Wright on the mundaneness of real business cycle theory revolution
26 Jul 2018 Leave a comment
in business cycles, economic growth, macroeconomics Tags: real business cycles

Unlike NZ, Canada can’t blame size, distance nor remoteness for low productivity
02 Jul 2018 Leave a comment
in applied price theory, economic growth, macroeconomics Tags: Canada, lost decades, New Zealand

Thomas J. Sargent – Keynote Address on effects of open borders
29 Jun 2018 Leave a comment
in applied price theory, development economics, economic growth, economic history, industrial organisation, international economics, labour economics, labour supply, law and economics, macroeconomics Tags: Thomas Sargent
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