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
Stephen Williamson on quantitative easing
29 Apr 2020 Leave a comment
in financial economics, monetary economics
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
Friedman (1966) channels Alchian and Allen on how inflation might return
27 Apr 2020 Leave a comment
in history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics
From https://www.richmondfed.us/-/media/richmondfedorg/publications/research/econ_focus/2005/summer/pdf/friedman_inflation_speech.pdf via https://www.richmondfed.org/publications/research/econ_focus/2005/summer/~/media/06AE15D96C75465B97C4E981664E31A2.ashx
The Destabilizing Consequences of Central Banking
27 Apr 2020 Leave a comment
in Austrian economics, business cycles, economic history, financial economics, macroeconomics, monetary economics Tags: economics of banking, free banking, monetary policy
John Cochrane explains helicopter drops
25 Apr 2020 Leave a comment
in business cycles, financial economics, fiscal policy, macroeconomics, Milton Friedman, monetarism, monetary economics, politics - New Zealand, public economics
Stephen Williamson explains quantitative easing
25 Apr 2020 Leave a comment
in financial economics, macroeconomics, monetary economics
The Fed and Lehman Brothers: setting the record straight on a financial disaster
23 Apr 2020 Leave a comment
in business cycles, financial economics, global financial crisis (GFC), macroeconomics, monetary economics Tags: banking panics
Much of the unemployment later this year will be search and rest unemployment
22 Apr 2020 Leave a comment
in business cycles, job search and matching, labour economics, labour supply, macroeconomics, monetary economics, unemployment
Thomas Sargent on deposit insurance
21 Apr 2020 Leave a comment
in applied price theory, economics of regulation, financial economics, macroeconomics, monetary economics
What is deficient aggregate demand?
20 Apr 2020 Leave a comment
in business cycles, economic growth, Edward Prescott, fiscal policy, macroeconomics, monetary economics Tags: real business cycle theory
Utopia, you are standing in it! 
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