The Monetary Policy Debate
By Arnold Kling
David Leonhardt is insightful.
you would also find a sizable group of economists who thought the Fed could and should do far more than it was doing. This group, known as doves, tilts liberal, though it includes conservatives as well. If anything, it can probably claim a larger number of big-name economists — J. Bradford DeLong, Paul Krugman (an Op-Ed columnist for The New York Times), Christina D. Romer, Scott Sumner and Mark Thoma, among others — than the camp that believes the Fed has done too much.
Scott Sumner, you are a Big Name! I credit blogging.
I am in the dove camp myself. I don’t believe in AD, but if AD is true, then the Fed can do something about it. Read Leonhardt’s whole piece.