Putting lipstick on the PIIGS: the health of modern macroeconomics

Ok, so some of the best economists, trained at elite institutions, working for the pinnacle of the of the financial world got it wrong, very wrong.  How wrong?  Just go ask a Greek citizen.  But, of course, we all knew that just by reading the headlines coming out of Greece over the last couple of ...

How Can a Political Scientist get this and many (freshwater) economists do not

O.k. I wrote this years ago. Maybe 2003, maybe 2005: And while NKs accept the basic logic of the rational expectations augmented Philips curve (that is, that the NAIRU is semi-fixed in the long run) monetary and fiscal policy can … Continue reading →