by Dan Crawford (Rdan)
(H/t Ken Houghton)
Eric Leeper’s paper Monetary Science, Fiscal Alchemy∗, also found ungated in the Financial Times: Jackson Hole papers finally available, mentioned Angry Bear in a footnote page 12 in the section on reactions to the lastest CBO report.
Here is the fiscal alchemy of Bruce’s post on the CBO report. I read it several times and the comments but for the life of me can’t find any part that suggests fiscal restraint is less severe in the science of monetary, nor ignored the limits of CBO reporting, or suggested the upper and lower bounds were accurate, but did address the public, political statements of impending doom of an election year when insolvency was months away according to the bond vigilantes and several politicos.
Mainly, as Ken suggests in a tweet, “He believes monetary policy is science, but makes fun of AB?”
On the other hand it helps to advertise.
Update: Try here for the science part, and some of Robert’s posts on Kocherlakota (Mr. Leeper refers to Kocherlakota in his paper)