Tuesday, 9 June 2015

What is it about German economics?

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I recently had the privilege to speak in Berlin at the 10th anniversary celebration of the Macroeconomic Policy Institute (IMK). (The talk...
95 comments:
Sunday, 7 June 2015

Austerity as a Knowledge Transmission Mechanism failure

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In this post I talked about the Knowledge Transmission Mechanism: the process by which academic ideas do or do not get translated into eco...
19 comments:
Saturday, 6 June 2015

The latest IMF paper on debt

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This paper by IMF economists Jonathan Ostry, Atish Ghosh and Raphael Espinoza has attracted some media attention . (Flip Chart Rick has a ...
27 comments:
Friday, 5 June 2015

The academic consensus on the impact of austerity

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In discussing the forthcoming UK budget, Robert Peston writes : “And before I am savaged (as I always am) by the Krugman crew of Keynes...
43 comments:
Thursday, 4 June 2015

Multipliers and evidence

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I should be more careful with titles. The title of this post may have misled some ( including Paul Krugman) to characterise what I was sa...
12 comments:
Wednesday, 3 June 2015

The Knowledge Transmission Mechanism and Macroeconomic Crises

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Sometimes when people talk about the influence of macroeconomic ideas on policy they seem to have a very simple framework in mind. Policy m...
15 comments:
Tuesday, 2 June 2015

Faith in multipliers

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Economists could skip to the penultimate paragraph The multiplier is the size of any decrease in output that results from a fiscal contra...
40 comments: