Category Archives: Macroeconomics
Paul Krugman attempts to play in the big leagues. Quotable: There is a lot of relevant work that Eggertsson and Krugman are unaware of, or are ignoring. Bruce Smith spent his career working on models of credit market frictions in … Continue reading
From the introduction to Ricardo Caballero’s paper, “Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome” (pdf): What does concern me of my discipline, however, is that its current core — by which I mainly mean the so-called … Continue reading
Even MIT economists are admitting the obvious. (pdf) Chances the profession will heal itself? I don’t see it as long as the cash and the work keeps rolling in from the Federal Reserve, the NSF, the Federal bureaucracy, and from … Continue reading
Arnold Kling’s suggestions for developing a non-pathological science of macroeconomics.
If not, Raghu Rajan evidently has an instinctive understanding of Hayekian thinking on global macroeconomic coordination. You can read Hayek’s Monetary Nationalism and International Stability here. These are the sorts of macroeconomic coordination problems that many “free-traders” seem not to … Continue reading