- Links for 01-01-15
- 'On the Stupidity of Demand Deficient Stagnation'
- 'Here's What Economics Gets Right'
Posted: 01 Jan 2015 12:06 AM PST
Posted: 31 Dec 2014 09:43 AM PST
On the Stupidity of Demand Deficient Stagnation: In my last post I wrote about "why recessions caused by demand deficiency when inflation is below target are such a scandalous waste. It is a problem that can be easily solved, with lots of winners and no losers. The only reason that this is not obvious to more people is that we have created an institutional divorce between monetary and fiscal policy that obscures that truth." I suspect I often write stuff that is meaningful to me as a write it but appears obtuse to readers. So this post spells out what I meant. ...
Posted: 31 Dec 2014 09:42 AM PST
I'm pretty sure my dissertation advisor (Greg Duncan, a McFadden student at Berkeley) helped to create the model used to make the BART prediction discussed below (I think they used a program called QUAIL, and precursor to LIMDEP):
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