On the blogs

Economics textbooks: when the model becomes the message -- Lars Syll on mainstream textbooks' use of consumption Euler equation models and the problems with that

Monetary Conspiracy Theories -- Paul Krugman explains why he thinks that Taylor and Ryan's claim that QE was an attempt to “bail out fiscal policy” is crazy. That's how Eccles justified it in the 1930s (to support fiscal expansion), actually, and I don't think there is anything wrong with that. Of course you need to use fiscal policy, if the Fed maintains the long-term rates low, for it to make sense

Understanding 'Secular Stagnation' -- Jayati Ghosh and C.P. Chandrasekhar on why inadequacy of domestic demand resulting from worsening functional distribution of income maybe the most important cause of long-term 'secular stagnation'


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