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Comment on ‘America’s Peacetime Inflation: The 1970s’ by J. Bradford De Long
Inflation Peacetime
2015/8/4
Comment on ‘America’s Peacetime Inflation: The 1970s’ by J. Bradford De Long.
Remarks for the Panel Discussion on “Recent Changes in Trend and Cycle”
Recent Changes Trend
2015/8/3
This panel discussion focuses on two defining features of the new economy: (1) a
change in trend productivity growth, and (2) a change in cyclical volatility. No one
knows for sure how long either f...
The Bush administration’s emerging market strategy is an interrelated
part of our overall international economic agenda. The agenda
focuses on two goals: increasing economic growth and increasing
e...
Economic Reform and the Current Account: Implementing the Strategy
Economic Reform Current Account
2015/8/3
Although the current account deficit of the United States—and its mirror image
the current account surplus of the rest of the world—had been increasing steadily
through the 1990s, international econ...
Introduction
economic policy inflation
2015/8/3
THE FEDERAL RESERVE is the single most important economic
policy institution in the United States. This spring the
two of us and the ten other authors of this book came together
to present and to d...
We first document a large secular shift in the estimated response of the entire term structure of interest
rates to inflation and output in the United States. The shift occurred in the early 1980s. W...
It has been more than three years since the economic crisis first flared up in August 2007,
and the U.S. economy is still operating far below its potential. Unemployment is high at 9.8%
(November 20...
Surprising Comparative Properties of Monetary Models: Results from a New Model Data Base
Monetary Models consumption investment
2015/8/3
In this paper we investigate the comparative properties of empirically-estimated monetary
models of the U.S. economy. We make use of a new database of models designed for such
investigations. We foc...
What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package
Stimulus Package Purchases Multiplier Actually
2015/8/3
Because the ARRA grants to state and local government are
fungible and not synchronized with purchases, determining the
eff ect of ARRA on state and local government purchases is more
diffi cult an...
Introduction
Economic growth recession
2015/8/3
Economic growth during the recovery from the recession of –
has been remarkably slow—only . percent at an annual rate
in the fi ...
Designing Competitive Wholesale Electricity Markets for Latin American Countries
Latin American Countries Electricity Markets
2015/7/31
The purpose of this paper is to present a general framework for electricity market design
in Latin American Countries (LACs) that addresses the current problems facing electricity
supply industrie...
The Economic and Environmental Challenges for America America s’ Energy Future
Economic and Environmental Energy Future
2015/7/31
Outline of Talk
• US energy history
– Consumption, production and pricing by fuels
• Have fossil fuels become increasingly scarce?
– Evidence from oil, natural gas, coal, and “near oil...
Information and Competition in U.S. Forest Service Timber Auctions
Service Timber Auctions Information and Competition
2015/7/21
This paper analyzes the role of private information in U.S. Forest
Service timber auctions. In these auctions, firms bid a per unit price
for each timber species. Total bids are computed by mu...
CONTRACTING FOR GOVERNMENT SERVICES: THEORY AND EVIDENCE FROM U.S. CITIES
GOVERNMENT SERVICES EVIDENCE FROM
2015/7/21
Local governments can provide services with their own employees or by
contracting with private or public sector providers. We develop a model
of this ‘make-or-buy’ choice that highlights the trade-o...
We consider two classes of explanations for the rise in policy-related economic uncertainty in the United States since 1960. The first stresses growth in government spending, taxes,and regulation. A s...