The Keynesian Revolution, the Monetarist Counterrevolution, the New Classical Purge, the Neo-Keynesian Restoration

Brad DeLong

Paul Krugman opina aca y aca

Krugman sobre macro internacional

The long short run

Columna de Brad DeLong

Is QE deflationary?

Krugman (y DeLong y Rowe) contra Steve Williamson

Más de Nick Rowe

Noah Smith resume el debate

Krugman y DeLong contestan

FT Alphaville

Ryan Avent

FT Alphaville: A new good called 'security'. Otro: The repo market as a form of free banking

David Glasner: Does macroeconomics need financial foundations?. Nick Rowe le responde a Glasner

FT Alphaville: The theory of money entanglement, parte I, II y III

Safe assets and the QE enigma

Miles Kimball y Noah Smith sobre la guerra freshwater vs saltwater

Aca

Nick Rowe da su opinion sobre el porque de los despidos en la Fed de Minnesota

Paul Krugman tambien

Timothy Taylor: Freshwater and saltwater economists: A creation story

Understanding New Keynesian models

Blogs review

Sobre viejo y nuevo keynesianismo

Brad DeLong critica de nuevo a John Cochrane. Krugman tambien

Simon Wren-Lewis resume

Interest rates and aggregate demand

Nick Rowe

"Say's Law is false in a monetary exchange economy. In a monetary economy that produces only apples and bananas, it is perfectly possible to have an excess supply of both apples and bananas. In a monetary economy that produces only goods this year and goods next year, it is perfectly possible to have an excess supply of both goods this year and goods next year. Because there's an excess demand for money, the medium of exchange. And if that's the problem, a cut in a relative price like (Pa/Pb), or a cut in a relative price like (1+r), is not the cure."

...

But if people do not expect a return to full employment in the near future, and fear a continuing recession, the New Keynesian model might fail. A cut in real interest rates might not cure an excess supply of goods. Interest rates are the wrong thing to look at. Interest rates are a relative price that only affect relative demand, not Aggregate Demand for goods this year and goods next year."

New Keynesians just assume full employment without even realising it

Nick Rowe

Sobre macro de equilibrio general (con dinero)

Yichuan Yuang

Is the Neoclassical Synthesis starting to collapse?

Paul Krugman. Cullen Roche comenta

Sobre el efecto Pigou

Nick Rowe aca y aca, comentando a Paul Krugman

Why the Pigou Effect does not get you out of a liquidity trap

Explicación del efecto Pigou

Keynes and loanable funds

Daniel Kuehn. Respuesta de Social Democracy

Krugman sobre el modelo AS/AD en trampa de liquidez

Aca

Friedman era keynesiano?

David Glasner. Scott Sumner comenta

Why I am not surprised that U.S. Treasury bond yields are still very low

Brad DeLong

Silvio Gesell's plan for negative nominal interest rates

Aca

The meaning of short and log term and the natural rate

Matias Vernengo

Learn the basics of New Keynesian models without hard math

Noah Smith

Krugman sobre el PIB potencial

Aca

Who sets the real rate of interest?

David Glasner. Tyler Cowen comenta

Otro de Glasner: Keynes on the Fisher Equation