Michael D. Bordo: An Historical Perspective on the Quest for Financial Stability
13 May 2020 Leave a comment
in budget deficits, business cycles, econometerics, economic growth, economic history, financial economics, fiscal policy, global financial crisis (GFC), great depression, great recession, inflation targeting, international economics, job search and matching, macroeconomics, monetarism, monetary economics Tags: new classical macroeconomics
Can the Government Spend Us To Prosperity with Valerie Ramey
10 May 2020 Leave a comment
in budget deficits, business cycles, defence economics, econometerics, economic history, fiscal policy, global financial crisis (GFC), great depression, great recession, labour economics, labour supply, macroeconomics, unemployment Tags: Keynesian macroeconomics, New Keynesian macroeconomics
The shape of things to come if #COVID19 subsidies persist?
05 May 2020 Leave a comment
in fiscal policy, health economics, industrial organisation, politics - New Zealand, Public Choice, public economics, survivor principle
How many projects are shovel-ready with the border closed to a global construction engineers market?
04 May 2020 Leave a comment
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
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
John Cochrane explains helicopter drops
01 May 2020 Leave a comment
in financial economics, fiscal policy, macroeconomics, Milton Friedman, monetarism, monetary economics, politics - New Zealand, public economics
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
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.’
Robert Barro explains Ricardian equivalence and tax smoothing
26 Apr 2020 Leave a comment
in fiscal policy, macroeconomics, public economics
Utopia, you are standing in it! 
Recent Comments