Class Links
- January 9, 2009
- December job losses make 2008 worst year since 1945: http://www.bloomberg.com/apps/news?pid=20601087&sid=akVSfn.0.ZmI&refer=home
- January 12, 2009
- NBER says recession started one year ago: http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=ajdX7VAR_MbE
- How the current recession compares to others since WWII (it's not that bad): http://www.marginalrevolution.com/marginalrevolution/2009/01/comparing-recessions.html
- FRED2 from the St. Louis Fed, is a good database for macroeconomics data: http://research.stlouisfed.org/fred2/
- January 16, 2009
- CPI number released this morning sparks more worry about deflation: http://www.bloomberg.com/apps/news?pid=20601087&sid=aHqc7njhKlhA&refer=home
- January 21, 2009
- The odds of a depression? Know what an annualized rate is: http://www.calculatedriskblog.com/2009/01/intrade-odds-of-depression.html
- January 23, 2009
- Want to be a trillionaire? Go to Zimbabwe: http://www.abc.net.au/news/stories/2009/01/16/2468043.htm
- More on Zimbabwe's inflation: http://en.wikipedia.org/wiki/Zimbabwean_dollar
- Value as a medium of exchange: coins in Argentina: http://www.slate.com/id/2205635/pagenum/2
- January 25, 2009
- Great comments from an interview with Zimbabwe's central banker: http://www.marginalrevolution.com/marginalrevolution/2009/01/interview-with-the-central-banker-of-zimbabwe.html
- January 28, 2008
- The FOMC meets today. What to expect?: http://www.calculatedriskblog.com/2009/01/fomc-statement-will-fed-buy-longer-term.html
- The House votes on the stimulus package (will it be paid for with seinorgage?). Here's whats in it: http://online.wsj.com/article/SB123310466514522309.html?mod=djemEditorialPage
- January 30, 2008
- Today's GDP number, broken down: http://www.econbrowser.com/archives/2009/01/oh_yes_its_a_re.html
- February 2, 2008
- Tim Geithner has some strong words about China's manipulation of the exchange rate: http://www.economist.com/finance/displayStory.cfm?story_id=13005072&source=most_commented
- February 4, 2009
- Obama backs off the "buy American" provisions on the stimulus bill: http://uk.reuters.com/article/usPoliticsNews/idUKTRE5132CT20090204
- February 6, 2009
- A recession started by the US has lead to an increase in the value of the dollar (what will the stimulus package do to this nominal rate? The real rate?): http://www.econosseur.com/2008/10/isnt-it-ironic.html
- February 9, 2009
- Mankiw of China's trade policies: http://www.nytimes.com/2009/02/08/business/economy/08view.html?partner=permalink&exprod=permalink
- How bad were the employment numbers from 2008? How should one measure the drop?: http://www.cafehayek.com/hayek/2009/02/a-quiz.html
- More on this recession's employment and how it compares: http://www.calculatedriskblog.com/2009/02/job-losses-during-recessons.html
- Mankiw on the stimulus and employment policies: http://gregmankiw.blogspot.com/2009/02/unions-win-one.html
- February 11, 2009
- Trade deficit smallest since 2003: http://www.bloomberg.com/apps/news?pid=20601087&sid=a_c6JKzOACyQ&refer=home
- Geithner's plan?: http://www.bloomberg.com/apps/news?pid=20601087&sid=aD5XjdmX2RPw&refer=home
- Senate passes stimulus: http://news.yahoo.com/s/ap/20090210/ap_on_go_co/congress_stimulus
- February 13, 2009
- Long run growth doesn't make headlines like short term contractions: http://money.cnn.com/2009/02/13/news/international/eurozone_gdp.reut/index.htm?postversion=2009021307
- February 16, 2009
- The savings rate is going back up: http://www.calculatedriskblog.com/2008/12/savings-rate-starting-to-recover.html What does this mean for the steady state capital stock?
- The Simon-Ehrlich wager, reflecting different views on population growth: http://en.wikipedia.org/wiki/Simon-Ehrlich_wager
- February 23, 2009
- Employment and Okun's Law for the current recession: http://macroblog.typepad.com/macroblog/2009/02/how-bad-is-the-employment-picture-really.html
- February 25, 2009
- Bernanke gives a forecast conditional on stabilization policies working and stocks rally: http://www.econbrowser.com/archives/2009/02/the_bernanke_ra.html
- February 27, 2009
- What is the multiplier?: http://woodwardhall.wordpress.com/2008/12/11/measuring-the-effect-of-infrastructure-spending-on-gdp/
- Are we taking this number to seriously?: http://cafehayek.typepad.com/hayek/2009/01/not-one-not-two-not-16-157.html
- March 4, 2009
- We used the Quantity Theory to derive the LM curve, which shifted around for changes in monetary policy. Here is a way to think about fiscal policy using in the Quantity Theory: http://www.marginalrevolution.com/marginalrevolution/2009/03/fiscal-policy-using-the-quantity-theory.html
- IS-LM in the NY Times: http://krugman.blogs.nytimes.com/2009/02/23/liquidity-preference-versus-loanable-funds-televised-wonkish-with-video/#more-1451
- March 6, 2009
- Things that might shift the IS curve:
- http://www.investingintelligently.com/wp-content/uploads/2006/08/a_history_of_home_values.png
- http://1.bp.blogspot.com/_pMscxxELHEg/SbBiutEMTvI/AAAAAAAAEts/B8th8T3WLjg/s1600-h/PercentMortgagedNegativeEquity.jpg
- http://dshort.com/charts/bears/four-bears-large.gif
- What's being done to the IS and LM curves:
- http://research.stlouisfed.org/fred2/fredgraph?chart_type=line&s[1][id]=M1&s[1][transformation]=pc1
- http://research.stlouisfed.org/fred2/series/DFF?cid=118
- http://research.stlouisfed.org/fred2/fredgraph?chart_type=line&s[1][id]=GFDEBTN&s[1][transformation]=pc1
- How is the multiplier affected by the credit crisis?: http://gregmankiw.blogspot.com/2009/03/are-fiscal-multipliers-now-big-or-small.html
- March 16, 2009
- What kind of effect will government spending have now?: http://www.voxeu.org/index.php?q=node/3271
- March 18, 2009
- What will the implementation of this plan do in an IS-LM model?: http://www.investors.com/editorial/IBDArticles.asp?artsec=1&artnum=6&issue=20090318
- March 20, 2009
- The Fed announces a big shift in the LM curve: http://www.nytimes.com/2009/03/19/business/economy/19fed.html?_r=1&hp
- How this works even with the Fed Funds Rate near zero: http://www.ft.com/cms/s/0/8ada2ad4-f3b9-11dd-9c4b-0000779fd2ac.html
- March 23, 2009
- More on the Great Depression vs. the Great Recession: http://krugman.blogs.nytimes.com/2009/03/20/the-great-recession-versus-the-great-depression/
- March 25, 2009
- Geithner's comments on China's fixed exchange rate: http://www.reuters.com/article/companyNewsAndPR/idUSN2148652720090121
- March 27, 2009
- Fiscal and monetary policy in an open economy: http://baselinescenario.com/2009/03/27/us-europe-g20-payback-time/
- March 29, 2009
- Just because a fixed exchange rate takes away the power of the monetary authority, it doesn't mean they don't get paid: http://mungowitzend.blogspot.com/2009/03/have-pity-on-ben-bernanke.html
- March 30, 2009
- 2004 Nobel winners, Kydland and Prescott and their examples of time inconsistent policies: http://www.marginalrevolution.com/marginalrevolution/2004/10/new_nobel_laure.html and here http://divisionoflabour.com/archives/001713.php
- John Taylor and recent Taylor Rules: http://www.stanford.edu/~johntayl/FCPR.pdf
- April 1, 2009
- The Debt Clock runs out of digits: http://blogs.wsj.com/economics/2008/10/09/sign-of-the-times-2/
- Jame Hamilton on the CBO's predictions for the national debt: http://www.econbrowser.com/archives/2009/03/debt_trajectory.html
- April 6, 2009
- Two pieces comparing the present recession to the Great Depression:
- Economics decline and policy responses, then and now: http://www.voxeu.org/index.php?q=node/3421
- The fall in home prices and the effects on the financial sector, then and now: http://online.wsj.com/article/SB123897612802791281.html
- April 8, 2009
- Nobel Laureate Gary Becker on housing, wealth, and consumption: http://www.becker-posner-blog.com/archives/2009/04/housing_prices_1.html
- April 13, 2009
- Investment's impact on 2009Q1 GDP: http://www.calculatedriskblog.com/2009/03/q1-gdp-will-be-ugly.html
- April 15, 2009
- Investment data and theory (including the neoclassical and q-theory of investment we talked about in class): http://www.econbrowser.com/archives/2007/05/is_the_investme.html
- April 17, 2009
- The action in the Bay Area, CA housing market- not much for new home sales: http://www.calculatedriskblog.com/2009/04/dataquick-california-bay-area-home.html
- Another view of housing investment- looking at the number new homes being constructed (a leading indicator): http://www.calculatedriskblog.com/2009/04/housing-starts-near-record-low.html
- April 20, 2009
- This American Life epside "Bad Banks"- good discussion of what banks do and the roots of the financial crisis: http://www.thisamericanlife.org/Radio_Episode.aspx?sched=1285
- April 22, 2009
- Jim Hamilton explains what happened to the monetary base in 2008: http://www.econbrowser.com/archives/2009/03/money_creation_1.html
- April 23, 2009
- One implication is of the efficienty market hypothesis is to invest in index funds. Here's more evidence along those lines: http://online.wsj.com/article/SB124036618955342011.html
- April 24, 2009
- More on the increasing monetary base and what it might mean for inflation: http://macroblog.typepad.com/macroblog/2009/01/a-refresher-on.html
- The Case of the Missing Currency (Sprenkle, JEP 1993)
- April 27, 2009
- Three papers on the "state of macro"- where the Neoclassicals and New Keynesians stand and how they are coming together (ordered according to my preferences)
- New Keynesian Models: Not Yet Useful for Policy Analysis (by Chari, Kehoe, and McGrattan)
- Convergence in Macroeconomics: Elements of a New Synthesis (by Woodford)
- The State of Macro (by Blanchard)
- April 29, 2009
- Three interviews talking about Neoclassical vs New Keynesian macroeconomics
- Russ Roberts and Ricardo Reis (New Keynesians vs. New Monterists, why we know a lot about monetary policy, but not fiscal policy)
- Russ Roberts and Don Boudreaux (the importance of microfoundations in macroeconomics, where Austrian Business Cycle theory has gone)
- Tom Keene and Robert Lucas and Ed Prescott (mp3) (the development of macro theory, the importance of microfoundations)
