‘Economics’ Archives
Krugman reestimates the Mankiw rule
This scatterplot is from Paul Krugman. x is the core inflation rate minus the unemployment rate. y is the federal funds rate. It uses data from 1988 to 2008.This graph is motivated by a version of the Taylor rule I once proposed. Paul uses a different sample than I did, so he gets slightly different [...]
A Challenge to Extreme Keynesians
The key insight of Keynesian economics is that the problem during recessions is inadequate aggregate demand. Taken to the extreme, which some Keynesians do, it says that aggregate demand is the only thing you need to worry about during downturns. Changes in aggregate supply (due to, say, high marginal tax rates or adverse incentives [...]
The Role of Investment, Industry and Foreign Trade in economic development
In these figures we include some of the main features of international economic relations to foster economic development. Foreign direct investment is of great importance to increase domestic investment in many countries and to favor the increase of Imports useful to foster domestic production, both in industrial and non-industrial sectors. [...]
World Development Reports free on line 2001-2005
World Development Reports published by the Euro-American Association of Economic Development Studies for the years 2001-2005, are here free downloadable. To access each article, please click on "Abstract" and then on "Download" within the Abstract page. These articles point to the important role of Education, Industry and Trade in improving [...]
Comments on Alan Greenspan’s “The Crisis”
I just returned from the spring meeting of the Brookings Papers on Economic Activity, where I was a discussant for Alan Greenspan's new paper on "The Crisis," which has gotten a bit of media attention. I thought blog readers might enjoy reading my comments on the paper. Here they are:This is a great paper. It presents one of the [...]
