rodrik.typepad.com - 12/6/2008
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Yes it does. And not just in theory, but also in practice. The evidence comes from the 1930s, and from the work of Ben Bernanke himself (along with other scholars like Barry Eichengreen). The important finding is that countries that devalued their currencies by getting off the gold ...
krugman.blogs.nytimes.com - 11/30/2008
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krugman.blogs.nytimes.com —
Greg has this exactly right: IF you were
going to turn to only one economist to understand...
the problems facing the economy, there is little doubt that the economist would be John Maynard Keynes. Although Keynes died more than a half-century ago, his ...
(more)
The Keynesian moment
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links for 2008-12-06
Economist's View —
Does mercantilism work in a Keynesian world? - Dani Rodrik
The recession in pictorial context - macroblog
The gorilla war in Congo - Los Angeles Times
Are Cuts in Hours and Pay an Alternative to Mass Layoffs? - NYTimes.com
Greg Mankiw's work incentives - Andrew Gelman
International coordination with ZIRP - Nick Rowe
Do you see what they see? - macroblog
Consumer Borrowing Declined in November - Real Time Economics ...
Does Protection Have No Impact on Aggregate Demand?
EconoSpeak —
... then he writes: A "buy domestic" policy will not shift demand towards domestic goods. If it did, so that imports fell and net exports increased, the current account surplus would merely cause the exchange rate to appreciate so that net exports fell to their original level. The current account must stay the same, because the capital account stays the same, because the interest rate differential stays the same, because interest rates stay the same. Dani Rodrik, however, takes another view: Yes it does. And not just in ...
Buy American: Is There a Trade-off Between Free Trade and Full Employment?
EconoSpeak —
Paul Krugman gets partial credit for expounding on an argument made by Dani Rodrik (here and here): The economic case against protectionism is that it distorts incentives: each country produces goods in which it has a comparative disadvantage, and consumes too little of imported goods. And under normal conditions that’s the end of the story. But these are not normal conditions. We’re in the midst of a global slump, with governments everywhere having trouble coming up with an effective response ... how would this change if each country adopted ...
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That's the Keynesian Spirit!
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How I Became a Keynesian
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The Mature Keynesian Perspective
gregmankiw.blogspot.com 1/27/2009 — Via NYU prof Mario Rizzo , here is John Maynard Keynes of 1942, six years after The General Theory : Organized public works, at home and abroad, may be the right cure for a chronic tendency to a deficiency of effective demand. But they are not ...
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rodrik.typepad.com 12/5/2008 — How much of a boost to economic activity will a fiscal stimulus provide? For those who believe that we have entered a Keynesian world of shortage of aggregate demand--me included--the answer depends on the Keynesian multiplier. The size ...
Legal Protectionism: A New Mercantilism
angrybear.blogspot.com 2/8/2009 — By Stormy How does legal protectionism work? It has been my contention that many developing countries--those in Asia, specifically China--do engage in what might be called "legal" protectionism. "The WTO rules are very porous," said C. Fred ...
Plan G: Pulling the Keynesian Fire Alarm
delong.typepad.com 10/21/2008 — Krishna Guha in the FT:
Bernanke backs fresh US stimulus package : Ben Bernanke on Monday backed a second fiscal stimulus, while the White House indicated that President George W. Bush was “open to the idea,” raising the possibility ...
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