Prescott 1991 on RBC and labour supply

Image

Edward Prescott doesn’t hold back on macroeconomics and central banks

From https://slideplayer.com/slide/4861392/

Can the central bank cause a recession?

From https://www.minneapolisfed.org/article/1996/interview-with-edward-c-prescott

We wanted to see what happens if you don’t have the usual financial factors in there—not one word about banks, the Federal Reserve, the collapse of Lehman Brothers, et cetera

For McGrattan and Prescott, two leading proponents of the use of quantitative, dynamic business cycle modeling to analyze macroeconomic trends, including intangible capital investment in total economic output is the key to making sense of head-scratching countercyclical movements in labor productivity over the past 25 years.

From https://www.minneapolisfed.org/article/2012/unmeasured-investment

What GFC? A news-driven contraction?

Image

Money and the business cycle

Image

Prescott shows a lot of contracting since the end of the tech bubble

Prescott on monetary booms

Were you surprised that you were able to construct a model economy which generated fluctuations which closely resembled actual experience in the US?

Image

How does Prescott react to the criticism that there is a lack of available supporting evidence of strong intertemporal labour substitution effects?

Image

The new classical monetary-surprise style of models developed in the 1970sby Lucas, Sargent, Wallace and others were very influential. When did Prescott first begin to lose faith in that particular approach?

Image

Your work on the US found that productivity shocks explain most of the cyclical fluctuations the economy has experienced. Does this finding have any bearing on the nature of public policy?

From https://www.elibrary.imf.org/view/journals/023/0031/006/article-A005-en.xml

What about the recession of 1980-81?

From https://www.minneapolisfed.org/article/1996/interview-with-edward-c-prescott

The view that technology shocks, those affecting production opportunities, are the major driving force behind business cycles, accounting for about 70 percent of these fluctuations.

From https://www.minneapolisfed.org/article/1996/interview-with-edward-c-prescott

Prescott (1996) on the power of central banks

From https://www.minneapolisfed.org/article/1996/interview-with-edward-c-prescott

Previous Older Entries

New Historical Express

(Formerly Hatful of History)

Economics in the Rear-View Mirror

Archival Artifacts from the History of Economics

CAMERA UK

COMMITTEE FOR ACCURACY IN MIDDLE EAST REPORTING AND ANALYSIS

Truth on the Market

Scholarly commentary on law, economics, and more

Stockerblog

Philosophy, Politics, Culture from Barry Stocker, British philosopher based in Istanbul

Organizations and Markets

Economics of organizations, strategy, entrepreneurship, innovation, and more

John Quiggin

Commentary on Australian and world events from a socialist and democratic viewpoint

The Antiplanner

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Pedestrian Observations

For Walkability and Good Transit, and Against Boondoggles and Pollution

Manhattan Contrarian

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Bet On It

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Trade Diversion

Commentary on development, globalization, and trade by Jonathan Dingel.

Movie Nation

Roger Moore's film criticism, against the grain since 1984.

Conversable Economist

In Hume’s spirit, I will attempt to serve as an ambassador from my world of economics, and help in “finding topics of conversation fit for the entertainment of rational creatures.”

AwayPoint

Between An Island of Certainties and the Unknown Shore

Why Evolution Is True

Why Evolution is True is a blog written by Jerry Coyne, centered on evolution and biology but also dealing with diverse topics like politics, culture, and cats.

Weapons and Warfare

History and Hardware of Warfare

fportier.wordpress.com/

Franck Portier's professional page

NZCPR Site

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Breaking Views

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Anti-Dismal

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Peter Winsley

Economics, and such stuff as dreams are made on

Bowalley Road

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

History of Sorts

WORLD WAR 2,EIGHTIES,MUSIC,HISTORY,HOLOCAUST

Tudor Chronicles

News, reviews and talk all about the Tudors

Karl du Fresne

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Roger Pielke Jr.

an undisciplined academic - @RogerPielkeJr on Twitter

Great Books Guy

Reading The Classics

@STILLTish. Gender Abolition

Examining Gender Identity ideology and its impact on Women's Sex based rights and Gay Rights. Exploring how this has taken such firm root in Western societies (Cognitive & Regulatory Capture).

200-Proof Liberals

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

What Paul Gregory is Writing About

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Offsetting Behaviour

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

JONATHAN TURLEY

Res ipsa loquitur - The thing itself speaks

Adventures of a Tudor Nerd

Exploring the 16th Century and Beyond

Conversable Economist

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Barrie Saunders

Thoughts on public policy and the media

The Victorian Commons

Researching the House of Commons, 1832-1868

Coyote Blog

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

The History of Parliament

Blogging on parliament, politics and people, from the History of Parliament

Books & Boots

reflections on books and art

Legal History Miscellany

Posts on the History of Law, Crime, and Justice

%d bloggers like this: