From https://www.cato.org/sites/cato.org/files/pubs/pdf/cato_stimulus.pdf
From @Cato ad in @WSJ on 2009 fiscal stimulus @taxpayersUnion @JordNZ
16 Aug 2020 Leave a comment
in applied welfare economics, budget deficits, business cycles, fiscal policy, global financial crisis (GFC), great depression, great recession, macroeconomics, public economics
Edward Prescott on the Great Recession
31 May 2020 Leave a comment
in business cycles, Edward Prescott, financial economics, global financial crisis (GFC), great recession, macroeconomics, monetary economics Tags: real business cycle theory
Monetary policy across the globe
24 May 2020 Leave a comment
in business cycles, economic history, global financial crisis (GFC), great recession, inflation targeting, macroeconomics, monetary economics Tags: monetary policy
Will taxes stall the #COVID19 recovery?
18 May 2020 Leave a comment
in applied price theory, budget deficits, business cycles, econometerics, economic growth, economic history, fiscal policy, global financial crisis (GFC), great recession, labour economics, labour supply, macroeconomics, Public Choice, public economics Tags: real business cycle theory, taxation and investment
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
Stephen Williamson puzzles over quantitative easing
09 May 2020 Leave a comment
in business cycles, financial economics, global financial crisis (GFC), great recession, macroeconomics, monetary economics
There is so many nominal wage cuts that efficient contracting theory is in question. Keynes is long dead.
06 May 2020 Leave a comment
in business cycles, global financial crisis (GFC), great recession, labour economics, labour supply, macroeconomics, monetary economics, personnel economics, unemployment Tags: Keynesian macroeconomics, new classical macroeconomics, New Keynesian macroeconomics
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
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.’
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