nakedcapitalism.com - 1/5/2009
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I am a big fan of Willem Buiter, even on those rare occasions when he is wrong. He is unusually blunt for a Serious Economist, and is willing to take on orthodox views and institutions frontally. He has, for instance, been quite critical of the Fed. He created a firestorm at its last ...
krugman.blogs.nytimes.com - 1/6/2009
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krugman.blogs.nytimes.com —
Bit by bit we're getting information on the
Obama stimulus plan, enough to start making back-of-the-envelope estimates...
of impact. The bottom line is this: we're probably looking at a plan that will shave less than 2 percentage points off the average ...
(more)
Stimulus arithmetic (wonkish but important)
becker-posner-blog.com - 1/12/2009
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becker-posner-blog.com —
If the government increased its spending on infrastructure
when the economy has full employment, its main impact...
would likely be to draw labor, capital, and raw materials away from various other activities. In effect, increased government spending ...
(more)
On the Obama Stimulus Plan-Becker
econbrowser.com - 1/3/2009
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econbrowser.com —
In my previous post , I presented evidence
that the oil price increase over 2007:H2-2008:H1 made a...
significant contribution to the slowdown in consumption spending in general and decline in spending on domestic automobiles in particular. Here I ...
(more)
The oil shock and recession of 2008: Part 2
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Further Reading
FT Alphaville —
Elsewhere on Monday: - The end of the financial world as we know it - The end of the contemporary-art world as we see it - Reliving nightmares: The 10 craziest days on Wall Street in 2008 - Six degrees between tragedy and farce… - Economists behaving badly - The death of e-commerce , or why the internet is getting old - Buiter takes on another bit of orthodoxy , and it’s a doozy - The Deal Professor’s “year of learning” - The UK’s recession : harder and faster, deeper and longer, than anyone predicts - For ...
can we afford keynesian remedies?
Decline and Fall of Western Civilization —
via yves smith, willem buiter. Given the bad fiscal position of the US Federal government and given the vulnerability of the external position of the US and its growing reliance on foreign funding, the scope for expansionary fiscal policy in the US is much more limited than president-elect Obama’s advisers appear to realise. Underneath the effective demand problem is a deep structural rot, especially in household sector and financial sector balance sheets. Keynesian cyclical policy options that would be open to more structurally sound economies should ...
Related Content
Willem Buiter warns of massive dollar collapse
telegraph.co.uk 1/6/2009 — The long-held assumption that US assets - particularly government bonds - are a safe haven will soon be overturned as investors lose their patience with the world's biggest economy, according to Willem Buiter. Professor Buiter, a former Monetary ...
U.S. GDP
measuringworth.org 3/14/2009 — Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country during a given time period. There are two ways to measure GDP: Nominal GDP is the dollar value of production at current-year prices. For ...
Den Of Liars
market-ticker.denninger.net 12/24/2008 —
That would be our government. It of course includes Congress, and until proven otherwise, all who came from Congress , including our President-Elect. Yeah, I know, we only have one President at a time. That's fine. But here's reality: ...
Where We Are, Where We're Heading (2009)
market-ticker.denninger.net 1/1/2009 —
Let's score the 2008 edition predictions first: US will enter a recession : Confirmed by NBER. Check. Unemployment will rise north of 5% . Check (bigtime) Housing will not turn in 2008. Major check. The story in 2008 will be ...
How Not to Stimulate the Economy
gregmankiw.blogspot.com 12/22/2008 — In thinking through the fiscal policy options and their implications, it might be useful to compare a few hypothetical, fanciful scenarios. Suppose that the federal government borrows some money and then... Case A : uses the money to give a lump-sum ...
Financial Crisis and Recession
woodwardhall.wordpress.com 12/11/2008 — The Obama administration’s focus on infrastructure spending raises the natural question of the effect of government purchases on total GDP. Does government spending stimulate other categories of spending, especially consumer spending? Or does ...
Good economic news?
econbrowser.com 4/30/2009 — Today's GDP numbers were about what I was expecting. Although economic activity continued its sharp decline, if we continue to follow the script, things should improve.
The Bureau of Economic Analysis reported today that U.S. real GDP fell at a ...
Preliminary Analysis of the President’s Budget
cboblog.cbo.gov 3/21/2009 — We have just released our latest projections for the budget and economic outlook, updating the projections published in early January 2009. In addition, we have reviewed the President’s budgetary proposals contained in the February publication A New ...
The Commercial Real Estate Bust
calculatedrisk.blogspot.com 11/10/2008 — Since investment in non-residential structures is slowing (especially malls, hotels, and offices), a key question is how did the commercial real estate (CRE) investment boom compare to the residential housing bubble? And how did the CRE boom compare ...
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