Sunday, March 30, 2014

Regime Switching at the Lower Bound: A Research Topic for Students

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I just returned from a conference at the San Franciso Fed on Monetary Policy and Financial Markets HERE where I discussed a paper by Fumio ...
Thursday, March 20, 2014

Labor Markets Don't Clear: Let's Stop Pretending They Do

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Beginning with the work of   Robert Lucas and Leonard Rapping  in 1969, macroeconomists have modeled the labor market as if the wage always...
10 comments:

Thought for the Day

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"In economics, the majority is always wrong." — John Kenneth Galbraith
Tuesday, March 11, 2014

Asset Prices in a Lifecycle Economy

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I have just completed a new paper on asset prices, "Asset Prices in a Lifecycle Economy".  The paper is available  here  from the...
7 comments:
Saturday, March 8, 2014

Doing Economics: A Thought for the Day for Grad Students

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A common mistake amongst Ph.D. students is to place too much weight on the ability of mathematics to solve an economic problem.  They take a...
1 comment:
Saturday, March 1, 2014

Did Keynes have a Theory of Aggregate Supply?

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My old classmate Nick Rowe has a new  post  on Chapter 3 of The General Theory .  In Nick's words, Start with three equations. 1. Th...
13 comments:
Monday, February 24, 2014

My Quiz for Wannabe Keynesians

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Simon Wren-Lewis has a great post today on what makes a Keynesian.  Here is my answer together with a quiz for wannabe Keynesians. Firs...
48 comments: