John Quiggin provides an excellent discussion of macroeconomics. It is much too good to summarize. Just click the link and read. Paul Krugman is also (as usual) brilliant. In particular, I fear he understands the sociology of the profession. I have some comments on Quiggin.

Mark Thoma quotesForecasting the Great Recession: DSGE vs. Blue Chip, by Marco Del Negro, Daniel Herbst, and Frank Schorfheide, Liberty Street: Coincidentally commenter Luis Enrique asked me what I thought of that paper on Gmail. this is commentator Luis Enrique [skip] I am enjoying your to and fro with Simon WL anyway, I just wanted to send […]

Pete Davis: Treasury Secretary Hank Paulson initially sold Congress in the fall of 2008 on emergency intervention to purchase “toxic assets,” but quickly reversed course in favor of direct capital injections. Those favored financial institutions revived more quickly than most thought possible and most of those injections have already been paid back. However, most of […]

Via the must-read Susan of Texas, Ezra Klein finally comes to some of his senses: couldn’t get an answer to a very simple question: What level of spending on health care was optimal for innovation? Should we double spending? Triple it? Cut it by 10 percent? Simply give a larger portion of it to drug […]