tag:blogger.com,1999:blog-2546602206734889307.post1935726592205302054..comments2024-03-28T04:29:22.717+00:00Comments on mainly macro: Heterogeneity at the IMFMainly Macrohttp://www.blogger.com/profile/09984575852247982901noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2546602206734889307.post-14759051490430980602012-11-02T03:49:26.573+00:002012-11-02T03:49:26.573+00:00Good answer. But what happened when fiscal policy ...Good answer. But what happened when fiscal policy was attempted on these post-war recessions? <br /><br />Friedman in the late 1960s in newsweek specifically talked of situtions wyhen fiscal and monetry polcy moved in opposite directions and monetary policy always won the battle. his examples might have involved a tax surcharge to slow price inflation<br /><br />Friedman and Schwartz were good at showing that the monetary policy of the Fed still worked even in the depths of the great contraction.Jim Rosenoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-16785305748371317222012-10-26T16:44:34.019+00:002012-10-26T16:44:34.019+00:00But most post-war recessions have been adequately ...But most post-war recessions have been adequately dealt with by monetary policy - indeed many were caused by monetary policy in the first place to reduce inflation.So fiscal policy was neither necessary or appropriate for these.Mainly Macrohttps://www.blogger.com/profile/09984575852247982901noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-33754125530768513462012-10-26T07:11:14.306+00:002012-10-26T07:11:14.306+00:00do you know of any post-war recessions where the r...do you know of any post-war recessions where the recovery was attributed to a fiscal expansion?Jim Rosenoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-24577850362127614592012-10-20T15:12:05.520+00:002012-10-20T15:12:05.520+00:00I like your post. In december 2011, The New Republ...I like your post. In december 2011, The New Republic already ran a story on how DSK made the IMF Keynesian again: http://www.tnr.com/article/economy/98051/IMF-Merkel-euro-ECB-Keynes-crisisAnonymousnoreply@blogger.com