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About Economics
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Krugman, Obama and Tax Cuts
Mon, 05 Jan 2009 09:46:00 +0300
Paul Krugman:
...if the government spends money, that money is spent, helping support demand, whereas tax cuts may be largely saved...
There is some logic to this. Just because people have...
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Canadian Economy Predictions For 2009
Fri, 02 Jan 2009 10:59:00 +0300
Nick Rowe of Worthwhile Canadian Initiative is running a Canadian Economic Forecasts 2009 Contest. The rules:
Rules:
Unconditional point-forecasts only, for these 5 macroeconomic variables (you can do others as well...
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Thoughts on Inflation
Thu, 01 Jan 2009 21:27:00 +0300
From our discussions this week I sketched out some thoughts on inflation. I would like to get your take on the topic, so if you would be kind enough...
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How Economics Can Help You Keep Your New Year's Resolutions
Thu, 01 Jan 2009 08:43:00 +0300
Absolutely the way to keep your New Years Resolutions. As many of you know I have used this method to great success. Economics is not all about bailouts...
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Krugman's Nonsensical Recession Causing Shift Factor
Wed, 31 Dec 2008 11:25:00 +0300
More on Monday's discussion.
Consider the consumption portion of the utility function in the Krugman paper:
U = ... s(t) * ln( C(t) ) ...
Where:
C is private consumption... I’ve introduced a shift...
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Adjusting for Opportunity Costs, Rather Than Inflation
Tue, 30 Dec 2008 10:11:00 +0300
A follow-up to yesterday's Why Do We Use Inflation Adjusted Prices?
When we adjust for inflation, our unit of measure tends to be something like "1982 dollars". But the entire...
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Krugman's Optimal Fiscal Policy Illustrates Everything That Is Wrong With Modern Macroeconomics
Mon, 29 Dec 2008 22:41:00 +0300
Paul Krugman on the need to model the current situation:
One thing that’s been bothering me about the discussion over fiscal stimulus is the virtual absence of fully worked-out models, with...
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Fiscal Stimulus as Faith Healing
Mon, 29 Dec 2008 14:10:00 +0300
I have a great deal of respect for Paul Krugman, but I find this type of argument rather irritating:
Here’s how I see it: the opponents of a strong stimulus plan...
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Why Do We Use Inflation Adjusted Prices?
Mon, 29 Dec 2008 13:12:00 +0300
We often see statements like this made by economists:
Gas prices reached a new 2008 low of $1.61 per gallon, which is the lowest inflation-adjusted price since...
(Emphasis mine)
But what do economists...
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The Ten Worst Economic Predictions of 2008
Sat, 27 Dec 2008 12:25:00 +0300
From Businessweek. My favorite:
7. "I think you'll see [oil prices at] $150 a barrel by the end of the year" — T. Boone Pickens, June 20, 2008
Oil was then...
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