Tags » Academic Economists

The vast majority of economists are Keynesian

I will preface this with my own invention, the National Accounting Stimulus Trap, which is built around Y=C+I+G. An increase in public spending will, inevitably, show up as an increase in Y because that is how the accounts are designed. 516 more words

Economic Theory And Policy

learning from Lehman

This is the five year anniversary of the collapse of Lehman Brothers, and the steady stream of retrospectives has given me cause to think back on my own journey. 893 more words


Hamilton hammers HAP (re Reinhart and Rogoff)

Pity the fool that takes on Jim Hamilton.

Jim had the good grace to publish Robert Pollin and Michael Ash’s reply to his comment regarding the HAP critique of Reinhart and Rogoff AER 2010. 322 more words


Hamilton on the Reinhart and Rogoff debt-debate

Jim Hamilton (his text Time Series Analysis will be familiar to many who have suffered post-grad econometrics) has weighed in on the Reinhart and Rogoff v. 630 more words


The Reinhart-Rogoff recrunch-er

I found the hype surrounding the Reinhart-Rogoff ‘error’ really confusing — mostly due to the fact that there was no break-down of the differences between the HAP and R+R results. 272 more words


Fiscal v. Monetary Policy

Cochrane has posted his ‘hard debt’ WSJ op ed on his blog.

The op-ed deals with three related questions:

1/ What might monetary policy mean for fiscal policy? 464 more words


Gregory tips a 1.5% cash rate low

Macrobusiness has a note that is a nice counterweight to Chris Joye’s McKibbin note earlier this week. The ANU’s other ex-RBA board member, Bob Gregory… 133 more words