delong.typepad.com - 11/2/2009
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Allan Meltzer should be ashamed of himself.
Here is the late Milton Friedman, arguing that supporting the banking system with extra open-market operations in late 1931-early 1932 after the shock of the British abandonment of the gold standard would have saved an awful lot of jobs--probably ...
krugman.blogs.nytimes.com - 11/3/2009
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krugman.blogs.nytimes.com —
The Obama administration's "jobs created or saved" is
just a way of saying "other things equal" in...
non-economese.
(more)
No saving grace
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No saving grace
Paul Krugman —
Brad DeLong catches Allan Meltzer claiming that there’s something nonsensical about the Obama administration making estimates of jobs saved thanks to its policies. But it’s not just Meltzer — Greg Mankiw has done the same thing. They should be ashamed of themselves. The Obama administration’s “jobs created or saved” is just a way of saying “other things equal” in non-economese. Of course it makes sense to ask how many more people are working than would have been the case without a given policy — and every administration makes assertions along those lines. During the 2001 ...
Jobs saved and counterfactuals
Cafe Hayek —
... Brad DeLong catches Allan Meltzer claiming that there’s something nonsensical about the Obama administration making estimates of jobs saved thanks to its policies. But it’s not just Meltzer — Greg Mankiw has done the same thing. ...
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A history lesson for Alan Meltzer
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