
From Lucas and Sargent’s After Keynesian Macroeconomics 1979
15 Aug 2018 Leave a comment
in budget deficits, business cycles, economic growth, great recession, history of economic thought, macroeconomics, monetary economics, Robert E. Lucas Tags: conjecture and refutation, Keynesian macroeconomics, stagflation, Thomas Sargent

The Queen didn’t ask Keynesians about not predicting the 1970s stagflation, a phenomenon their macroeconomics strictly forbade
15 Aug 2018 2 Comments
in budget deficits, business cycles, economic growth, economic history, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, macroeconomics, monetary economics Tags: conjecture and refutation, Keynesian macroeconomics, stagflation

Source: Kehoe, Midrigan and Pastorino 2018.
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