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Measuring fiscal boosts

June 25, 2009

Brad DeLong is an esteemed economist at U.C. Berkely, but I am confused by evidence he uses in a recent blog post. Brad uses the following graph to argue that the level of deficit spending through the current crisis does not even approach the level during WWII which he views as necessary to reduce the […]

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What is the "long-term mean" of real estate as a % of GDP?

June 12, 2009

Felix Salmon's chart of the day comes by way of wcw and shows household assets as a percentage of GDP: Felix notes: If this line reverts to the long-term mean, the extra evaporation of housing equity would be utterly devastating. But is there any reason to believe that it won’t? But I wonder, what is […]

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China: Where Information Flows Freely

April 16, 2009

Floyd Norris on China's reported GDP figures: China is becoming the world’s most energy-efficient economy. Or maybe its statisticians are just the most creative. Essentially, for the past decade China's GDP has grown at a slightly slower rate than its electricity usage (which makes sense, since production requires energy).  This year, GDP growth contracted sharply […]

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Krugman vs Mankiw... again

March 11, 2009

They're still at it!  Mankiw explains on his blog (provacatively titled "Wanna bet some of that Nobel money?"): Paul Krugman suggests that my skepticism about the administration's growth forecast over the next few years is somehow "evil." Well, Paul, if you are so confident in this forecast, would you like to place a wager on it and take advantage […]

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