"The only way fiscal and monetary stimulus could "work" is if the flow of real savings (i.e., real funding) is large enough to support (i.e., fund) government activities and activities that sprang up on the back of loose-monetary policy while still permitting a positive rate of growth in the activit
Wednesday, July 28th, 2010
"In a recent Wall Street Journal column, Princeton economist Alan Blinder wonders why 64 percent of Americans do not believe the $849 billion "fiscal stimulus" bill "saved or created" many jobs.
Wednesday, July 14th, 2010
"Federal Reserve leaders marked down their expectations for growth and inflation last month, concluding that the economic recovery is proceeding more slowly than they had thought in the spring but that the slowdown did not warrant new policy actions.
Wednesday, July 7th, 2010
The debates raging over what policies will pull the U.S. economy out of its Great Recession replicate one that occurred during the Great Depression. Thanks to the efforts of Richard Ebeling, a professor of economics at Northwood University, we have compelling and concise documentary evidence.
Wednesday, June 30th, 2010
"The administration's stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible.
Wednesday, June 16th, 2010
"Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold standard and the founding of Social Security.
Friday, June 11th, 2010
"With a sustainable economic recovery now underway, policy makers will soon have to start thinking about pulling back their monetary stimulus to ensure inflation stays low and inflation expectations remain well-anchored, Philadelphia Federal Reserve President Charles Plosser said Friday.
Friday, June 11th, 2010
"Basic features of business cycle properties under both exogenous and endogenous monetary policy rules are examined in calibrated dynamic stochastic general equilibrium models with nominal rigidities (the nominal wage contract model, the monopolistic competition model with price adjustment costs and
Tuesday, May 18th, 2010
"On January 3rd, US Federal Reserve Chairman Ben S. Bernanke delivered a major speech at the annual meeting of the American Economic Association. In his formal paper, "Monetary Policy and the Housing Bubble," Chairman Bernanke argues that the Fed's monetary policy was not responsible for the U.S.
Saturday, May 8th, 2010
“Those who wish to preserve freedom should recognize, however, that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who wish to stop t
Wednesday, May 5th, 2010
"For the graduate students, my focus is both to communicate the basic idea (and research puzzles) of how to study intertemporal coordination.
Wednesday, April 28th, 2010
The recent financial crisis has called into question several basic tenets of mainstream macroeconomics.
Wednesday, April 21st, 2010
"Bank of England policy makers unanimously kept their bond-purchase plan at 200 billion pounds ($307 billion) in April as some officials showed mounting concern at the prospect of a prolonged bout of faster inflation.