The Brookings Institution on Fiscal Stimulus of the U.S. Economy

I had this ready a couple of days ago, but didn't post it. However, since Greg Mankiw, Brad Delong, and PGL have all noted Douglas Elmendorf and Jason Furman: If, When, How: A Primer on Fiscal Stimulus, here's the CSPAN video of the event discussing the paper (expires in 15 days):

With: Elmdorf (Overview) Rubin (Moderator), Feldstein, Furman, Rivlin, Zandi.

Launch in external player File: rtsp://video.c-span.org/15days/e011008_economy.rm

Comments

[ken melvin]

Watched it. Heard Zandi say that CA was in a recession.

[eclectic artist]

Yes, Zandi said that California, Arizona, Florida, Michigan, and Wisconsin are already in recession. That, he said, represents one way that sectors of the economy are already in recession -- geographical. In another way, the lower class is also already in recession. This is to say that it is experiencing negative income growth rates, in comparison to its usual economic rate of growth (sluggish). This is due to the larger effects of food and energy price increases on a sector of the economy that spends a larger proportion of its income on these items than other income sectors.

[hari]

It must be Timely, Temporary, Targetted and Triggered...

It's going to be difficult to get the political system to stick to the framework they've established. But try they must and it can't be delayed...State of Union Address!

[pgl]

I read this only yesterday. As I did, I thought - everyone interested in the macroeconomic policy debate that will likely dominate this year should give it a very careful read. Thanks for posting this video.

[ken melvin]

"... are tapped out", he said. Now how can we get more gold out of a spent mine?