What is Hysteresis?
Hysteresis is referred to the hypothesis that recessions may have permanent effects on the level of output relative to trend.
What is New Keynesian DSGE Models?
DSGE is a methodology for a wide range of macroeconomics models. One of the most common formulations is the so-called New Keynesian model. New Keynesian economics can be interpreted as an effort to combine the methodological tools developed by real business cycle theory with some of the central tenets of Keynesian economics tracing back to Keynes’ own General Theory.
What Macroeconomists seems to agree with each others… according to Blanchard
After a round of hot debate on the problem of DSGE model and the trouble of macroeconomics initiated by Paul Romer, heavyweight macroeconomist Olivier Blanchard comment on the usefulness of DSGE model, again.[getty...
What do others think about Paul Romer’s worries… (II)
The discussion on Paul Romer's "The Trouble with Macroeconomics" continues in the blogosphere, and Simon Wren -Lewis's "Paul Romer on macroeconomics" is one of the Must-Reads.In his comments, Wren-Lewis said that Romer's view is...
Paul Romer is worried about Macroeconomics… and what others think about his worries…
Paul Romer's latest paper "The Trouble with Macroeconomics" is definitely one of the hottest topic in the economics blogosphere. The central message is that Romer thinks the state of Macroeconomics has been going backward...
Why Negative Rate is a better policy tool to Higher Inflation Target? Bernanke Explains…
In his latest Brookings blog post "Modifying the Fed’s policy framework: Does a higher inflation target beat negative interest rates?", Ben Bernanke compares two policy tools central banks can use to stimulate the economy...
What is FTPL (Fiscal Theory of Price Level)?
The Fiscal Theory of the Price Level says that money has value because the government accepts it for taxes, and inflation is fundamentally a fiscal phenomenon
“Concrete Economics” Review
Prof. Brad Delong's blogs, either "bradford-delong.com" or over at " Equitable Growth" , are definitely two of the most influential economics blogs in the blogosphere, and I read both of them daily. More than...
Interview with Paul Romer – On Charter Cities (and HK) and Growth Theory
This is an interview I have done on behave of iMoney Magazine, and this is the English version of the published article. This interviews also appears on Prof Paul Romer's official website. If anyone would like to quote this interview, please attribute iMoney as the original publication.