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Sunday, July 27, 2014

'Monetarist, Keynesian, and Minskyite Depressions Once Again'

Brad DeLong:

I have said this before. But I seem to need to say it again…
The very intelligent and thoughtful David Beckworth, Simon Wren-Lewis, and Nick Rowe are agreeing on New Keynesian-Market Monetarist monetary-fiscal convergence. Underpinning all of their analyses there seems to me to be the assumption that all aggregate demand shortfalls spring from the same deep market failures. And I think that that is wrong. ...[continue]...

    Posted by on Sunday, July 27, 2014 at 10:15 AM in Economics, Macroeconomics | Permalink  Comments (65)


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