Category: macroeconomics

The Economists Messed Up

Paul Krugman writes a detailed (layman’s) critique on how and why economists messed up: Few economists saw our current crisis coming, but this predictive failure was the least of the field’s problems. More important was the profession’s blindness to the…

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Econ 100B: Links Roundup

Over the last few classes, I’ve talked about several things in the blogosphere and/or other media. I’m going to link to them in this post. Hopefully, I’ll cover everything – if not, let me know in the comments. The pros…

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The Starbucks Recession Indicator

by Elena Foshay Starbucks Coffee, one of the success stories of the booming economy and now global symbols of prosperity, is suffering. John Borden of Eyes Not Sold reports that over the last twelve months Starbucks stock has gone down…

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With US or Without: Chinese Imports

by Beau Rowland In the international furor surrounding the 2008 Olympics in China, I find myself in the rare position of agreeing with Bush’s steady line of support for Beijing. The reasons, I think, are in part economic. Here’s how…

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Bad Policy – Multiplied

by Mike Lowry In this critique of George Bush’s economic stimulus plan, economist Frank Shostak sets out to debunk the myths of the Keynesian philosophy. Specifically, he levels a common-sense attack at the concept of the “spending multiplier” which the…

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We Should Care About the Costs of Inflation

by Breana Pennington It was noted in lecture that we shouldn’t care about the costs of occasional, expected inflation because the negative effects of an increase in the overall price level of the economy are subtle. However, we should care…

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Assignment: Standards of Gold (Updated)

EconTalk is a weekly podcast in which Prof. Russ Roberts of George Mason University interviews various economists on a myriad of issues. A couple of weeks ago, he had Prof. Tyler Cowen also from GMU, and the co-author of Marginal…

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Handout: Monetary Policy

In an introduction to monetary policy, the San Francisco Fed has a neat FAQs-style description on its website. For instance, in answering the question “What are open market operations?” they say (amongst other things): Suppose the Fed wants the funds…

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