Category Archives: Stimulus Impact

Stiglitz, Summers, Secular Stagnation, and the Supply Side

Joe Stiglitz recently published an attack, “The Myth of Secular Stagnation,” on Larry Summers’ hypothesis of secular stagnation, a revival of a term used by Alvin Hansen decades ago. Larry first presented his secular stagnation hypothesis at a conference jointly … Continue reading

Posted in Regulatory Policy, Slow Recovery, Stimulus Impact

Novel Research on Elections, Policymaking, Economic Uncertainty

The Becker Friedman Institute of the University of Chicago and the Hoover Institution of Stanford University teamed up yesterday to put on a Conference on Elections, Policymaking, and Economic Uncertainty. The conference was held at the Hoover Institution Offices in … Continue reading

Posted in Financial Crisis, Fiscal Policy and Reforms, Regulatory Policy, Stimulus Impact

Why It’s Hard to Make the Unpopular Stimulus Look Good

Some columnists have been using the 5-year anniversary of the 2009 discretionary fiscal stimulus package to claim that it worked to jump-start the economy.  It’s a tough case to make.  The very word “stimulus” has become a dirty word because … Continue reading

Posted in Stimulus Impact

Another Anniversary: The Macro Alliteration Wars

Before we get too far away from the 5th anniversary of the 2009 stimulus signed into law on February 17, 2009 (or the 6th anniversary of the 2008 stimulus signed into law on February 13, 2008 ), it’s fun to … Continue reading

Posted in Stimulus Impact

Next Time Remember the Lessons from Stimulus Packages

It’s the five-year anniversary of the 2009 stimulus package. I’ve done a slew of empirical research on the stimulus in those years from predicting in advance that its impact would be small to estimating afterwards that its impact was small. … Continue reading

Posted in Stimulus Impact

Valuable Dissent to the Transportation Research Board’s Special Stimulus Report

This past week the Transportation Research Board released its Special Report from the “Committee on Economic and Employment Benefits of Transportation Investments in Response to Economic Downturns.”  The report evaluated the 2009 stimulus and in particular the part of the stimulus … Continue reading

Posted in Stimulus Impact

New Model Validation of Stimulus Impacts

A paper just published in the American Economic Journal: Macroeconomics sheds additional light on the Keynesian multiplier debate, which has surged since the 2009 stimulus package—ARRA—was enacted. In January 2009 Christina Romer and Jared Bernstein released a widely-cited paper showing … Continue reading

Posted in Stimulus Impact