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Fiscal policy and the credit crunch: What will work?
Daniel Gros , 21 December 2008 Most countries need a fiscal stimulus, but how should it be implemented? This column assesses fiscal policy's potential to increase demand and argues that any meaningful boost must come from transfers to the private sector, not infrastructure investments. Tax cuts ...
Guest Post: "How Can No One See An Imminent Fall in Chinese GDP and a Secular Slowdown Thereafter?"s
nakedcapitalism.com — I am now wondering if Google censors posts (I use Blogger), I put this post up at... 1:33 AM, and even had a reader e-mail me that the post had disappeared (with no listing in "Recent Posts" which happens if I put up a post and then remove it). I have ... (more) Guest Post: "How Can No One See An Imminent Fall in ...
European macro algebra (wonkish)
krugman.blogs.nytimes.com — I've been on the warpath over Germany's refusal to play a constructive role in European fiscal stimulus.... But what does the math look like? Here's a simple analysis - well, simple by economists' standards - of the reason coordination is so important ... (more) European macro algebra (wonkish)
The China Growth Fantasy
online.wsj.com — YASHENG HUANG | From today's Wall Street Journal Asia Remember the hype about "decoupling"? Not so long... ago, Western analysts -- in particular investment-bank economists -- were peddling the idea that China had become a powerful economic center of its ... (more) The China Growth Fantasy
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links for 2008-12-21
Economist's View — Big Brother Google? - Esther Dyson Does Fed Policy Marginalize Regional Bank Presidents? - RTE Alan Greenspan, Perennial Optimist - Felix Salmon Greenspan and Democracy - Robert Reich Greenspan roundtable - Free exchange What Greenspan thinks - Banks need more capital - The Economist Fiscal policy and the credit crunch: What will work? - voxeu.org Tim Geithner's daunting to-do list at the Treasury Department - Daniel Gross

Links 12/21/08
naked capitalism — ... willing to torture' BBC Wind farms 'overstated' Telegraph Church attendance 'to fall by 90%' Guardian Who Wants to Kick a Millionaire? Frank Rich, New York Times (hat tip reader Crocodile Chuck) New figures show that recession is deepening Times Online Chieuropa? Brad Setser The Shill Owns Up Michael Panzner Pandora’s Box - Prime Mortgages May Get Transparency Mr. Mortgage Fiscal policy and the credit crunch: What will work? Daniel Gros, VoxEU More Class Hatred ...

The IMF on fiscal policy in the crisis
VoxEU.org: Recent Articles — There is near consensus among economists that fixing the world s economy will involve at least these two steps: repairing the financial sector, and restarting economic growth. When in comes to financial sector policies, governments are already on the case . Much more surely needs to be done but governments are already deploying all the policies that eventually fixed every financial crisis since the dawn of the financial sector . When it comes to macroeconomic stimulus measures, however, policy is in disarray. The US, UK and Japan have committed to fiscal stimulus, but other nations, such as Germany, don t see the ...

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