Keynes’ General Theory is 75 years old. In this column, Paul Krugman argues that many of its insights and lessons are still relevant today, but many have been forgotten. A broad swath of macroeconomists and policymakers are applying old fallacies to today’s crisis. As the nostrums being applied by the “pain caucus” are visibly failing, Keynesian ideas may yet make a comeback.
Πηγή: Voxeu
Michael W. McCracken & Lillian Fu KEY TAKEAWAYS Πηγή: Federal Reserve Bank of St. Louis πλήρες κείμενο
Domenico Giannone & Giorgio Primiceri Post-covid inflation was predominantly driven by unexpectedly strong demand forces—both in the United States and in the Euro Area. We
Richard Baldwin Service value chains are expanding faster than industrial ones, yet their geography is strikingly different: a US-centred star rather than regional blocs. This
