Monday, March 2, 2009

Romer on the recession

Christina Romer with a piece defending (pdf) her position on the stimulus plan. It seems like she believes in a larger than research indicates, for one. It's an interesting ten-page read that also covers why they decided to stimulate aggregate demand directly, why it is directed at a large number of programs, and why there are programs included that people don't traditionally associate with needing stimulus (I hear that last issue talked about a lot). I'm impressed with the fact that she put her reasoning under public scrutiny, as if she were part of the public discourse. It's certainly a breath of fresh air, I think.

In that same vein, I really like the fact that there are so many government blogs: CBO, OMB, Whitehouse, and more, I'm sure.

Robert Waldeman talks about the value that is left in the IS-LM model.

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