For most policies there will be an impact on future government spending. An example used in the article is that treating mental illness now enables many patients to work, paying taxes and coming off benefits. Measuring this they use the following formula: Wellbeing benefits (in £’s) ÷ N...
But there’s an underlying cynicism and disparagement of China’s achievements in disability sport inherent in much western commentary, as if China just became a great and powerful country economically and achieved its Paralympic success by way of a “pipeline” of money from the central government...
We did not experience a recession from 2011 to 2014. We did experience the normal movement along the demand curve. Please stop confusing basic microeconomics v, basic macroeconomics. “Secular stagnation” was the phrased used in the US, and Europe was in recession for most of this period. Th...
The bottom-line: Okun’s Law is not as universal as the law of gravity (which has the same parameters in all advanced economies), but it is strong and stable by the standards of macroeconomics. This post written by Laurence Ball, Daniel Leigh and Prakash Loungani. LinkedInRedditThis...
He is, for sure, a self-styled expert on everything, and if you doubt it, just ask: he’ll be glad, as you know, to fill you in. Sure, he doesn’t know macroeconomics from mac and cheese, but you can be sure he’ll fight for his right to prove just how ignorant he really ...
(1) Have you ever taken a macroeconomics course at an accredited college or university? Yes or no. (2) Do you believe governments should cut spending during a recession? Yes or no. (3) Do you believe deficits crowd out “other peoples’ money” when the Fed is operating at the ZLB?
In Econ 442 (Macroeconomic Policy) as well as Econ 302 (Intermediate Macro), I used Blanchard’s Macroeconomics. In the latter, I used to use John Taylor‘s (!) textbook. For PA819 (Advanced statistical analysis for public affairs), I used James Stock and Mark Watson’s textbook. I ...
Technorati Tags:macroeconomics, economics, fiscal stimulus, block grants lilnevFebruary 8, 2009 at 9:00 am “I am definitely of the view that it is within the current power of the Federal Reserve to stimulate demand, and have urged the Fed to try to aim for a 3% inflation rate over the...
This is actually a very interesting point and has some profound implications for freshwater macroeconomics. One of the assumptions in freshwater macro is that contemporary economic agents have an infinite horizon even if their own lives are finite. It’s the assumption of today’s economic agent ta...