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Commentary

Public Debt and the Long-Run Neutral Real Interest Rate by Narayana Kocherlakota
Tue, 2015-08-25 21:05

Paul Krugman and the Obama Recovery by Jeffrey D. Sachs
Mon, 2015-01-05 22:13

The Nobel laureate economist is a great economic theorist – and a great polemicist. But he should replace his polemical hat with his analytical one and reflect more deeply on recent experience: rather than throwing the US back into recession, deficit reduction has been accompanied by recovery, job creation, and lower unemployment.


The Fiscal Headwinds Have Finally Subsided by Parinitha Sastry and Louise Sheiner
Tue, 2014-11-04 16:57

... estimates suggest that fiscal policy at all levels of government lowered real GDP growth by almost 1 percentage point, on average, over 2011 to 2013, but is likely to be a roughly neutral factor going forward.


The Coming "Tsunami of Debt" and Financial Crisis in America by Dimitri B. Papadimitriou
Thu, 2014-06-19 11:37
The US Congressional Budget Office is projecting a continued economic recovery. So why look down the road - say, to 2017 - and worry?

Forgotten but Not Gone: America's Long-Term Fiscal Imbalance by William G. Gale
Fri, 2014-03-07 13:01
Under current projections, the debt-GDP ratio will rise, not fall; the only question is how fast. Moreover, even if seemingly everything goes right – with respect to the economy and keeping the fiscal house in order – deficits and debt will rise, not fall, and we still face the prospect of a high and rising debt-GDP ratio by the end of the next decade.

The Fiscal Stimulus & Market Turnaround: 5-Year Anniversary by Jacob Frankel
Tue, 2014-03-04 13:52
Whether looking at indicators of economic activity, the labor market, or the financial markets, the idea that the fiscal stimulus of February 2009 had no apparent impact in the numbers is wrong.

How to Control Entitlements, Especially Medicare by Gary Becker
Mon, 2013-12-16 19:12
The more numerous and healthier men and women currently who reach age 65 should be encouraged to continue working for at least several more years- probably to age 70- instead of being encouraged to retire to collect social security benefits and Medicare payments. Those between ages 65-70 would remain in employer’s health insurance plans or buy individual insurance. In either case, they would have greater incentive to economize on their health spending.

Sudden Stops and Flexible Exchange Rates by Bradford DeLong and Antonio Fatas
Tue, 2013-10-29 12:43
This is an exchange between Brad DeLong and Antonio Fatas on how a sudden stop of capital inflows to the US will affect the US economy.

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