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| 01/05/2009 Krugman, Obama and Tax Cuts
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| Paul Krugman:
...if the government spends money, that money is spent, helping support demand, whereas tax cuts may be largely saved...
There is some logic to this. Just because people have...
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| 01/02/2009 Canadian Economy Predictions For 2009
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| Nick Rowe of Worthwhile Canadian Initiative is running a Canadian Economic Forecasts 2009 Contest. The rules:
Rules:
Unconditional point-forecasts only, for these 5 macroeconomic variables (you can do others as well...
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| 01/01/2009 Thoughts on Inflation
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| From our discussions this week I sketched out some thoughts on inflation. I would like to get your take on the topic, so if you would be kind enough...
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| 01/01/2009 How Economics Can Help You Keep Your New Year's Resolutions
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| Absolutely the way to keep your New Years Resolutions. As many of you know I have used this method to great success. Economics is not all about bailouts...
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| 12/31/2008 Krugman's Nonsensical Recession Causing Shift Factor
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| More on Monday's discussion.
Consider the consumption portion of the utility function in the Krugman paper:
U = ... s(t) * ln( C(t) ) ...
Where:
C is private consumption... Ive introduced a shift...
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| 12/30/2008 Adjusting for Opportunity Costs, Rather Than Inflation
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| A follow-up to yesterday's Why Do We Use Inflation Adjusted Prices?
When we adjust for inflation, our unit of measure tends to be something like "1982 dollars". But the entire...
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| 12/29/2008 Krugman's Optimal Fiscal Policy Illustrates Everything That Is Wrong With Modern Macroeconomics
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| Paul Krugman on the need to model the current situation:
One thing thats been bothering me about the discussion over fiscal stimulus is the virtual absence of fully worked-out models, with...
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| 12/29/2008 Fiscal Stimulus as Faith Healing
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| I have a great deal of respect for Paul Krugman, but I find this type of argument rather irritating:
Heres how I see it: the opponents of a strong stimulus plan...
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| 12/29/2008 Why Do We Use Inflation Adjusted Prices?
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| We often see statements like this made by economists:
Gas prices reached a new 2008 low of $1.61 per gallon, which is the lowest inflation-adjusted price since...
(Emphasis mine)
But what do economists...
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| 12/27/2008 The Ten Worst Economic Predictions of 2008
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| From Businessweek. My favorite:
7. "I think you'll see [oil prices at] $150 a barrel by the end of the year" T. Boone Pickens, June 20, 2008
Oil was then...
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