knzn is a Keynesian
knzn explains why he is a Keynesian: Bullish It, by knzn: ...Smith’s blog leads me to think about the issue of macroeconomics as a field. It seems (especially from the comment thread) that the Old Keynesians and the New Monetarists...
"Macroeconomics with Heterogeneity: A Practical Guide"
This is a bit on the wonkish side, but since I've talked a lot about the difficulties that heterogeneous agents pose in macroeconomics, particularly for aggregation, I thought I should note this review of models with heterogeneous agents: Macroeconomics with...
Bloggers in St. Louis
I did my best to defend New Keynesianism against the New Monetarist assault, but it's lonely being a New Keynesian in St. Louis (as Randy Wright let me know at every opportunity). But it was a fun visit -- thanks...
"Amartya Sen’s Commitments"
Dan Little: Amartya Sen's commitments, by Dan Little: A recent post examined the Akerlof and Kranton formalization of identity within a rational choice framework. It is worth considering how this approach compares with Amartya Sen's arguments about "commitments" in "Rational...
The Microeconomic Foundations of Macroeconomics
Since everyone seems to be discussing microfoundations, perhaps I should note some posts I've done on the topic. This one begins with a long discussion from Rajiv Sethi of some work on this by Duncan Foley, followed by some of...
Economics in the Crisis
Let me echo Brad DeLong and note this: Economics in the Crisis, by Paul Krugman: ...In what follows I will talk first about the general role of economics in times of crisis. Then I’ll turn to the specifics of the...
"Value-free economics?"
Dan Little on the positive and normative distinction within economics: Value-free economics?, by Dan Little : A recent volume by Vivian Walsh and Hilary Putnam, The End of Value-Free Economics , brings to a fine point a line of argument...
"Economics and Its Military Patrons"
This is from an interview of Judy Klein on, among other things, the origins of economic models: ...I was surprised by the very material origins of models we use in economics and by how limits on computational resources molded modeling...
Should Researchers Hide Results from the Public?
One of the reasons I started this blog almost was to try to correct the distortion of economic ideas by people masquerading as economists in pursuit of political goals. Ideas were presented in a misleading, distorted, or incomplete way in...
Potential Output: Measuring the Gap
There's been quite a bit of discussion recently about the output gap. I want to make a simple point in this post, how the gap is measured can have a big impact on the estimate of the state of the...
Fed Watch: Again With Potential Output
Tim Duy: Again With Potential Output, by Tim Duy: St. Louis Federal Reserve President James Bullard graciously responded to my most last post regarding his much considered speech. I actually do not enjoy drawing Bullard's attention, in that it makes...
Old versus New Keynesian Models Revisited
In light of comments such as this from Robet Waldmann (who doesn't get shrill with just anyone, so I'm honored to make his list), I think I should elaborate a bit more on my view of Old versus New Keynesian...
