Showing posts with label J. Bradford DeLong. Show all posts
Showing posts with label J. Bradford DeLong. Show all posts

Wednesday, 27 July 2016

A Brief History of (In)equality (J. Bradford DeLong, Project-Syndicate)

The Berkeley economist Barry Eichengreen recently gave a talk in Lisbon about inequality that demonstrated one of the virtues of being a scholar of economic history. Eichengreen, like me, glories in the complexities of every situation, avoiding oversimplification in the pursuit of conceptual clarity. This disposition stays the impulse to try to explain more about the world than we can possibly know with one simple model.

https://www.project-syndicate.org/commentary/history-income-distribution-by-j--bradford-delong-2016-07

Wednesday, 1 June 2016

Uncertainty at the Fed (J. Bradford DeLong, Project-Syndicate)

The US Federal Reserve is increasingly at risk of losing credibility – and for good reason. As Narayana Kocherlakota, former President of the Federal Reserve Bank of Minneapolis, recently argued, Fed officials seem be balancing their stated aim of keeping inflation near 2% over the long term with a host of other, inexplicit, considerations

https://www.project-syndicate.org/commentary/federal-reserve-bad-forecasts-uncertainty-by-j--bradford-delong-2016-05

Saturday, 30 April 2016

Rescue Helicopters for Stranded Economies (J. Bradford DeLong, Project-Syndicate)

For countries where nominal interest rates are at or near zero, fiscal stimulus should be a no-brainer. As long as the interest rate at which a government borrows is less than the sum of inflation, labor-force growth, and labor-productivity growth, the amortization cost of extra liabilities will be negative. Meanwhile, the upside of extra spending could be significant. The Keynesian fiscal multiplier for large industrial economies or for coordinated expansions is believed to be roughly two – meaning that an extra dollar of fiscal expansion would boost real GDP by about two dollars.

https://www.project-syndicate.org/commentary/helicopter-money-fiscal-stimulus-by-j--bradford-delong-2016-04

Tuesday, 1 March 2016

Pragmatism or Perdition (J. Bradford DeLong, Project-Syndicate)

American flag

It is almost impossible to assess the progress of the United States economy over the past four decades without feeling disappointed. From the perspective of the typical American, nearly one-third of the country’s productive potential has been thrown away on spending that adds nothing to real wealth or destroyed by the 2008 financial crisis.

http://www.project-syndicate.org/commentary/pragmatism-over-ideology-for-us-economy-by-j--bradford-delong-2016-02