krugman.blogs.nytimes.com - 1/28/2009
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One big question in the stimulus discussion is how much we should be worried about lags in implementation. Every economics textbook - mine too! - warns that stimulus based on public spending has a habit of peaking much too late, and therefore ends up being counterproductive. Now that we have a ...
jamesfallows.theatlantic.com - 1/21/2009
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jamesfallows.theatlantic.com —
Still early for the First Family, who have
several more inaugural balls to go, but late for...
a mere citizen after his quota of evening events -- capped by the pleasure of seeing a Metro car jammed at 1:00am with people in every station of life and mode ...
(more)
Very late night inauguration points
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A Stimulus for Tomorrow, part 2
Obsidian Wings —
... The more sophisticated response is from Paul Krugman. Krugman acknowledges that the government spending side of the equation is going to take time, but asserts that it doesn't matter. Krugman argues: ...
The Stimulus Recovery Package
JustOneMinute —
... - a lot of the "stimulus" won't even be spent until after the economy is projected to be in the early stages of a recovery (projected by whom, one might wonder?). Nobel Laureate Paul Krugman tries his hand at economic history and offers assurance that this time, the spending lag won't matter: It’s not a problem if some or even most of the stimulus arrives after the official recession, as determined by the NBER, is over. Why? Because in modern recessions, unemployment ...
Wondering About the Stimulus Plan
The Glittering Eye —
... This morning in the New York Times Paul Krugman explains why we should only be concerned about the short term consequences of the fiscal stimulus plan. He specifically dismisses concerns about the medium term: ...
Why unemployment lags
SCSUScholars —
Paul Krugman is making the case for the stimulus package based on the lag in unemployment -- it typically begins to fall well after the trough in the business cycle (as determined by NBER on the basis of series other than unemployment.) But one of those items NBER uses is the level of payroll employment. ...
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