Robert Waldmann Arnold Kling (via Matt Yglesias) argues that economists agree more about microeconomics than about macroeconomics. My take on this is that the consensus of economists is likely to be more reliable on microeconomic issues than it is on macroeconomic issues. In my view, fundamental macroeconomic issues are unsettled. It makes sense to have […]
Robert Waldmann The Geithner plan has been announced and the Dow has dropped 381.99 so far today Reminds me of this by Daniel Drezner [O]ne could forgive Geithner right now if his head swelled just a little bit. The Dow Jones Industrial Average shot up five hundred points on Friday as word of his appointment […]
Robert Waldmann Mashall wrote New York Times columnist Paul Krugman came out blasting yesterday, all but calling the president a postpartisan wimp. Obama’s stimulus plan, he said, is too small to plug the hole in our economy created by faltering private demand. And he chided the president for allowing a bipartisan group of Senate moderates […]
Robert Waldmann I have a proposal for targetted temporary spending which will have a huge immense disproportionate social benefit. It is not, shall we say, very controversial as it comes under the NIH budget — the one the house and senate are competing to pump up most. On the other hand, the Senate bill calls […]
I hear from a friend that some of my posts have not been warmly welcomed by economists with PhDs from the economics department of the University of Minnesota. I thought I would share more of my impressions of economic research that has been done over there after the jump For one thing, there is this […]
I am flattered that the economic of contempt guy* wrote me a long e-mail about my last CDS post. The e-mail is after the jump. my comments on his comments in [brackets] I am flattered by the attention. Really, I stress, I only recently learned what a CDS is. I wanted to respond to your […]
Robert Waldmann Thinks that this post by Mark Thoma discussing this Post by Menzie Chinn is unusually excellent. I suggest you go read it. If interested my thoughts on it after the jump. ideology. Its just not done to write that the debate is ideologues on one side non-ideologues on the other. In fact, he […]
Robert Waldmann jumps into a conversation between Felix Salmon and Megan Barnett on limiting banker compensation. after the jump my comment which is addressed to Salmon. I don’t think that you’re surprised that I agree with you and disagree with Barnett. I’d say a strong argument for the cap is the good old moral hazard […]
Robert Waldmann responds to Arnold Kling’s response Arnold Kling was generous enough with his time to respond here to a post of mine Sorry I was AWOL. Thank you Arnold Kling for responding to me. I’m flattered. “Not quite. The more heterogeneous labor force does not necessarily raise the natural rate of unemployment. However, it […]
Robert Waldmann People are talking about regulating credit default swaps (CDS) . They include Collin Petersen D-Minn who proposes making it illegal to own a CDS without owning the underlying instrument (this is absolutely standard for other kinds of insurance). and George Soros who supports the proposal.(via Felix Salmon) A problem, I think, is that […]