'On the Stupidity of Demand Deficient Stagnation'
On the Stupidity of Demand Deficient Stagnation: In my last post I wrote about “why recessions caused by demand deficiency when inflation is below target are such a scandalous waste. It is a problem that can be easily solved, with lots of winners and no losers. The only reason that this is not obvious to more people is that we have created an institutional divorce between monetary and fiscal policy that obscures that truth.” I suspect I often write stuff that is meaningful to me as a write it but appears obtuse to readers. So this post spells out what I meant. ...
Posted by Mark Thoma on Wednesday, December 31, 2014 at 09:43 AM in Economics, Fiscal Policy, Monetary Policy |
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