Question for Recalculationists Bryan Caplan By Bryan Caplan, Dec 7 2009 SHARE POST: Suppose that the modern U.S. economy faced no out-of-the-ordinary recalculation problems. By what percentage do real GDP and employment fall if nominal GDP unexpectedly declines by 5%? P.S. If you’re wondering why I’m asking…
Dec 7 2009 Fiscal Policy Debt Rollover and Inflation Arnold Kling Megan McArdle and Russ Roberts discuss the issue in the last quarter of their podcast. If you prefer an academic paper, read Joshua Aizenman and Nancy Marion. They write, in part today's temptation to inflate away some of the debt burden is similar in some respects to that in 1945, when inflation successfully eroded... 5 Read More
Dec 7 2009 Energy, Environment, Resources NY Times' Non-Reporting Reporting David Henderson If you want to see a great example of a purported news story in which the reporters try to bias the story one way, check out today's New York Times story on Climategate. I preface this by saying that I am no expert on climate change. My point is not that those who think it's happening, that it's manmade, and that it ... 18 Read More
Dec 7 2009 Macroeconomics Question for Recalculationists Bryan Caplan Suppose that the modern U.S. economy faced no out-of-the-ordinary recalculation problems. By what percentage do real GDP and employment fall if nominal GDP unexpectedly declines by 5%?P.S. If you're wondering why I'm asking... 3 Read More