Over at PostEverything. Bonus for OTE’ers: here’s an update of a figure I made awhile ago tracking Eurozone GDP, government spending (both in real terms), and unemployment. What I find revealing here is the fairly clear–for this sort of thing–initial increase in public spending to offset the downturn and the subsequent stabilization of GDP and… Read more
…crappy poll numbers. Over at PostEverything. Really, this is just genuinely upsetting. It’s one thing to run the numbers but quite another to think about all the unnecessary pain this has caused. You just can never underestimate the destructive power of bad ideas.
Not hard to do–and nothing against either of those big brains–but I’m confuzzled by this post from Brad. The question–or at least one of the questions–is a) whether there’s hysteresis in play and b) whether reverse hysteresis can be invoked to repair some of the damage. I’m too rushed to go into explanations of terms… Read more
As central bankers gather for their annual conference in Jackson Hole, Wyoming, a top agenda item is evaluating the current and future amount of slack in the US economy. In this regard, they’d be well advised to check out this new study from the two economists at the Economic Policy Institute which provides an exhaustive… Read more