The latest in a series examining persistent macroeconomic myths [1]
Author Archives: Menzie Chinn
Dragged to the Fiscal Slope
Implications of “I am not a member of an organized political party. I am a Republican.” (with apologies to Will Rogers)
Confusion in the Anti-Keynesian Ranks
Some people think that if one takes into account intertemporal dynamics, policy must necessarily be ineffective
Guest Contribution: “An assessment of the US jobless recovery through a non-linear Okun’s law”
Today, we are fortunate to have a guest contribution written by Laurent Ferrara (EconomiX-CNRS, University Paris West) and
and Valérie Mignon (EconomiX-CNRS, University Paris West and CEPII).
Heritage on Gun Control
From their website:
The wake of a violent tragedy is an appropriate time for reflection, investigation, prayer, and the promotion of healing. It is a particularly inappropriate time for political opportunism. …
Heritage at the Cutting Edge
The Heritage Foundation’s blog criticizes my recent post thusly:
[Chinn] ignores the fact that Heritage Foundation economists, like most academic macroeconomists, have put away the old Keynesian model in favor of modern alternatives.
I thought it useful to see some of this advanced analysis in action at Heritage. From Heritage Foundation’s Ron Utt — admittedly a long time ago (2008!):
Guest Contribution: “Inflation Responses to Commodity Price Shocks – How and Why Do Countries Differ?”
Today, we are fortunate to have a guest contribution from Gaston Gelos, Advisor in the IMF’s Institute for Capacity Development, and Yulia Ustyugova, Economist in the IMF’s Western Hemisphere Department.
Conditional Inflation Targeting in Effect
Nearly a year ago, Jeffry Frieden and I called for Conditional Inflation Targeting. Today, policy seems to have turned toward that direction. From today’s statement from the FOMC:
The Slow Growth in Investment
One of the puzzles of the post-crisis period is why investment has been so slow. Some would want to resort to stories of uncertainty. Is there something to this idea? Figure 1 depicts the gross investment to net capital stock.
Why Worry about the Fiscal Slope?
Lessons from the American Recovery and Reinvestment Act (ARRA)
Or, cognitive dissonance in the conservative world