D-Squared: Lots of people appear to be forgetting this one or getting it wrong…the central model of The General Theory of Employment, Interest and Money is a rational expectations model. The difference with the soi-disant “rational expectations” school is over the expectations-forming process with respect to the effect on price and output of monetary policy, […]
I don’t have my notes all together from yesterday, but Lance Mannion hits most of the second half of the day with this, this, this, and this post. Especially check out the last one. One panelist’s description yesterday of putting glasses on a child yesterday was as if it were directly out of the opening […]
Robert Waldmann Matthew Yglesias is completely mystified by opposition to deficit spending by the public and by Michele Boldrin. I basically agree with him, but I think that he is missing something. In response to public opposition to deficit spending he expresses the Keynesian argument perfectly Thinking about it rationally, the reason to worry about […]
Robert Waldmann OK so Snowe has broken with the other Republicans. After a heated hour-long exchange, Democrats defeated a Republican effort to restore $113 billion in funding for Medicare Advantage, a private insurance program that has been criticized for high costs. All 13 Democrats on the committee were joined by one Republican, Sen. Olympia J. […]
Noni Mausa has agreed to become the latest ‘Bear’ who will contribute on a regular basis to Angry Bear. Her wit and gracious style as a professional writer (and poet) are familiar to regulars, but she has been captured for now as a contributor. An addition of spice to the mix. Welcome to another really […]
Ken Houghton notes that Stanford Professor and “Taylor Rule” founder John Taylor is blogging. (No RSS or Atom feed yet.) His charts are better than this one looks, though his data is clearly GIGO. (See the link at his post.) This blog was included as one of the 100 Best Blogs for Econ Students by […]
This one’s going to be long because a lot of general themes get presented. Those looking for the shorter version may want to just go to the website and watch the videos.* William Jefferson Clinton (WJC) introduces the proceedings by giving a background on the Clinton Global Initiative (CGI). CGI began in 2005, and required […]
The one thing that got both daughters excited last night was “You’re going to see the President!” Didn’t have the heart to tell them it would probably be from a separate room. And, indeed, space upstairs maxed one. It’s 3:40; Barack H. Obama is scheduled to speak in about twenty minutes, though I might bet […]
Robert Waldmann Brad DeLong just posted a very interesting Draft Henry George lecture. It contains ideas which I haven’t found written down before by Brad or by Krugman. I strongly recommend reading it (for one thing I don’t know how to cut and paste from it). People who have read the draft lecture are invited […]