- Cowen has 2 superb posts- first discusses how we should be looking at impact of fiscal policy. He says there are two ways to look at fiscal policy impact. One the overall govt expenditure which is stable throughout the year and two the sudden increase which is labelled as stimulus. What is important is that you look at both and not just the second category. Countries like Germany etc have a higher overall expenditure and therefor automatic stabilizers are larger. Second post is on why Cowen has been wrong on Europe?
- Krugman on <!– — Updated: 4:42 pm –>Permanently High Unemployment
- WSJ Blog points to some interesting papers – Economists Try to Measure Uncertainty’s Impact on Growth, Credit Cards Take From Poor, Give to the Rich, Note to China: Economic Reform Doesn’t Produce Democracy
- Paul Romer Podcast with Paul Kedrosky
- PSD Blog on Would Ulysses have taken out a microfinance loan?
- Economix points to a new report estimating impact of fiscal stimulus