If one wants to be taken seriously in the world of policy analysis, one should at least use an internally consistent framework. This consideration, apparently, has not troubled Mr. Reidl.
The Center for Research on the Wisconsin Economy (CROWE) sponsored a series of talks on the election and economic issues. Yesterday’s talk was by Princeton’s Alan Blinder (former CEA member, former Fed Vice Chair). His talk with Q&A is here (YouTube). Other visitors included Lee Ohanian, Diane Whitmore Schanzenbach, Casey Mulligan and Brian Riedl (Manhattan […]
A tweet: I am fine with govt. helping people pay bills. But the idea that the spending will actually increase GDP is the Keynesian argument that I find very misguided. So, here it is useful to have a model discipline one’s arguments (textbook I’m using this semester, here, includes Classical as well as New Keynesian […]
From Mr. Brian Riedl, in NRO: The multiplier is small because, in the modern economy, idle savings are not common — even during a recession.
From Mr. Riedl at Manhattan Institute: I really hope the fiscal stimulus debate doesn’t gain momentum. Not only is it premature…..but I don’t have the writing bandwidth to remind everyone how Keynesian stimulus is an outdated theory (the multiplier is close to zero) with a terrible historical track record.
Brian Riedl writes: I’ve never understood the intense hatred of Paul Ryan. Agree or disagree on policies — he treated people well (even when they didn’t return the favor), avoided demagoguery, good family man, no scandals. Thats what we should want out of elected officials.
In my mind, absent a shooting war, the economy is headed for a slowdown, if not a recession. I am confident that, should the administration or anybody else propose countercyclical fiscal policy, a set of the usual suspects will deny the efficacy of discretionary policy. Hence, a prebuttal is called for.
That’s a comment made by an Econbrowser reader. Initially, I thought this was the stupidest thing that had been written since Don Luskin decried recession doomsayers in September of 2008. Upon reflection, I still think it’s pretty stupid, but the statement could be better re-written as “Trade can be war by other means.”
Last year’s recap was subtitled “Triumph of the Blowhards”. So far, my plea for the return of rational policy analysis (let alone facts) has failed to occur. But the struggle for sanity must continue.
In search of a “supply side success” after the end of the Kansas experiment, conservative observers turn to Wisconsin. The Manhattan Institute’s Mr. Riedl declares victory: Wisconsin’s job growth over the past six years has been extraordinarily strong. When last we met Mr. Riedl, he was explaining why fiscal policy could have no impact on […]