Monthly Archives: January 2010
Music Videos on Boom and Bust
John Papola and Russ Roberts just put their Hayek versus Keynes rap video on youtube. It’s called “Fear the Boom and Bust.” But also go to their web page EconStories which has much more. Also today PBS NewsHour aired a … Continue reading
Posted in Teaching Economics
Comments Off on Music Videos on Boom and Bust
Opinions versus Facts About the Chicago School
New Yorker writer John Cassidy argues in a recent article that free market-oriented Chicago school thinking was largely responsible for the financial crisis, and that, for this reason, interventionist-oriented Keynesian thinking has rightly replaced Chicago, which had previously “greatly influenced … Continue reading
Posted in Teaching Economics
Comments Off on Opinions versus Facts About the Chicago School
The GAO Audit of the Fed’s AIG Bailout: Toward Increased Transparency?
Today’s letter from Ben Bernanke to the GAO stating that the Fed would “welcome a full review by GAO of all aspects of our involvement in the extension of credit to AIG” is a step in the right direction. Importantly, … Continue reading
Posted in Financial Crisis
Comments Off on The GAO Audit of the Fed’s AIG Bailout: Toward Increased Transparency?
More on “Too Low For Too Long”
Much continues to be written this week about whether interest rates were too low for too long in the period 2003-2005 . David Papell posted a useful guest analysis on Econbrowser this morning showing that the target federal funds interest … Continue reading
Posted in Monetary Policy
Comments Off on More on “Too Low For Too Long”
From Fiscal Stimulus and Fiscal Anti-Stimulus
In an interesting new paper, University of Chicago economists Thorsten Drautzburg and Harald Uhlig calculate the impact the $787 billion fiscal stimulus package passed last year. Previous research, such as the paper by John Cogan, Tobias Cwik, Volker Wieland and … Continue reading
Posted in Stimulus Impact
Comments Off on From Fiscal Stimulus and Fiscal Anti-Stimulus
Learning from the Great Inflation
Many are worried that the exploding Federal debt and the expanded Federal Reserve Balance sheet will lead to a large increase in inflation. But when and how fast? A session at the recent American Economic Association meetings on the Great … Continue reading
Posted in Monetary Policy
Comments Off on Learning from the Great Inflation
Ben Bernanke’s AEA Speech
On New Years Day I wrote a piece on the surprising increase in the number of references to the Taylor rule in 2009. Little did I know that two days later Federal Reserve Board Chairman Ben Bernanke would start off … Continue reading
Posted in Monetary Policy
Comments Off on Ben Bernanke’s AEA Speech
From Woodford to DeLong On Monetary Policy Rules
Surprisingly, the Taylor rule was referred to more frequently than ever in 2009. According to Google Scholar more articles referred to it than in any year since 1993 when John Lipsky, now First Deputy Managing Director at the IMF, first … Continue reading
Posted in Monetary Policy
Comments Off on From Woodford to DeLong On Monetary Policy Rules
Economics One 