Jared Bernstein sobre el estímulo

Interesantes observaciones:

"Numerous people who edited the memo judged the $1.8 trillion stimulus number on which Scheiber focuses to be implausible, and not just in optical and political terms, but in implementation and market terms.

The final memo that went to the President-elect makes this point: “To accomplish a more significant reduction in the output gap would require stimulus of well over $1 trillion–which would likely not accomplish the goal because of the impact it would have on markets.”"

"Keynesian economics is not as simple as measuring a hole and filling it up. The implementation constraints I noted above were real, especially if you’re concerned with the capacity of the economy to absorb the stimulus in a useful manner, not to mention the requisite accountability in tracking the bucks. And remember, there was a lot of other stimulus going on at the time, including monetary policy and in credit markets (TARP). I’m not arguing that $800 billion was the “right” number, nor that $1.8 trillion was “wrong.” But there’s more to this than measuring a hole."