Source Sinclair Davidson
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
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.’
Edward C. Prescott on monetary policy
28 Apr 2020 Leave a comment
in business cycles, econometerics, economic history, Edward Prescott, financial economics, global financial crisis (GFC), great depression, great recession, inflation targeting, macroeconomics, monetary economics, Robert E. Lucas Tags: monetary policy
Monetary policy in the 21st century: An Allan Meltzer perspective
16 Apr 2020 Leave a comment
in business cycles, economic history, financial economics, great depression, great recession, labour economics, labour supply, macroeconomics, monetarism, monetary economics, unemployment Tags: Keynesian macroeconomics, New Keynesian macroeconomics
Richard Timberlake Remembers Milton Friedman, Pt. 3
13 Apr 2020 Leave a comment
in business cycles, economic history, great depression, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: Keynesian macroeconomics
Richard Timberlake Remembers Milton Friedman, Pt. 2
11 Apr 2020 Leave a comment
in business cycles, economic history, great depression, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: Keynesian macroeconomics
Richard Timberlake Remembers Milton Friedman, Pt. 1
10 Apr 2020 Leave a comment
in business cycles, economic history, great depression, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: Keynesian macroeconomics
Allan Meltzer on the 1930s Fed’s main concern
08 Apr 2020 Leave a comment
in business cycles, economic growth, economic history, economics of bureaucracy, great depression, macroeconomics, monetarism, monetary economics, Public Choice, unemployment
Australia rocketed out of the depression after the Premier’s Plan! NZ did too after cutting everything that could be cut by 20% in 1931
31 Mar 2020 1 Comment
in budget deficits, business cycles, economic history, fiscal policy, great depression, macroeconomics
The 1931 massive fiscal contraction should have slowed the NZ recovery if Keynesian macroeconomics is worth more than a grain of salt
31 Mar 2020 7 Comments
in budget deficits, business cycles, economic history, fiscal policy, great depression, labour economics, labour supply, macroeconomics, monetary economics, public economics, unemployment Tags: Keynesian macroeconomics, new classical macroeconomics, New Keynesian macroeconomics, New Zealand
100 years on New Zealand unemployment rates
31 Mar 2020 1 Comment
in business cycles, economic history, great depression, job search and matching, labour economics, labour supply, macroeconomics, unemployment Tags: Keynesian macroeconomics, New Keynesian macroeconomics, New Zealand
Novak and Davidson on interwar unemployment
31 Mar 2020 Leave a comment
in business cycles, economic history, fiscal policy, great depression, labour economics, labour supply, macroeconomics, unemployment Tags: Keynesian macroeconomics, New Keynesian macroeconomics
A century of Australian unemployment rates
30 Mar 2020 1 Comment
in business cycles, economic history, great depression, labour economics, labour supply, macroeconomics, unemployment Tags: Australia
From https://www.abs.gov.au/ausstats/abs@.nsf/previousproducts/1301.0feature%20article142001
The unemployment rate then increased rapidly to 19.3% in 1930, before reaching a peak of 29.0% in 1932, in response to the economic conditions of the Great Depression. This unprecedented high rate of unemployment persisted for two years, before the unemployment rate fell rapidly to below 10% by 1937.
Utopia, you are standing in it! 
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