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Discover Latest #Macroeconomics News, Articles and Videos with Contenting
Macroeconomics is the study of the entire economy. It looks at how different sectors of the economy interact, how the government affects the economy, and how different economic policies can impact the economy. Macroeconomics focuses on the big picture and can help governments create policies to increase economic growth and reduce poverty. Macroeconomists analyze data from the government, businesses, and individuals to understand how the economy is working and how it can be improved. The news, articles, and videos below provide information about macroeconomics and the current state of the economy. Learn about the different economic policies being implemented around the world and how different countries are dealing with economic issues.
A congestion theory of unemployment fluctuations - Marginal REVOLUTION
Yusuf Mercan, Benjamin Schoefer, and Petr Sedláček, newly published in American Economic Journal: Macroeconomics. I best liked this excerpt from p.2, noting that “DMP” refers to the Nobel-winning Diamond-Mortensen-Pissarides search model of unemployment: This congestion mechanism improves the business cycle performance of the DMP model considerably. It raises the volatility of labor market tightness tenfold, […]
Poorly Defined Concepts in Macroeconomics - Econlib
In my previous post, I discussed some poorly defined concepts in macro, such as “aggregate demand” and “monetary policy”. A recent David Beckworth interview of Jonathon Hazell touched on some of these issues, and added a few more. Here Hazell discusses the role of demand shocks in the Phillips Curve model: Between the end of […]
Beckworth interviews Eggertsson - Econlib
David Beckworth recently interviewed Gauti Eggertsson, who is an important member of what I called the Princeton School of Macroeconomics. (He currently teaches at Brown University.) In the interview, Eggertsson made a number of astute observations about monetary policy. Here he pushes back against the “Fiscal Theory of the Price Level”, which blames the recent […]
Book Review: “Booms and Depressions” | INOMICS
The 1932 book "Booms and Depressions" by Irving Fisher, along with his 1933 Econometrica paper "The Debt-Deflation theory of Great Depression" earmarked the start of a new era for modern macroeconomics and financial literature. This article reviews the book in light of the current economic and financial scenario.
Cutting Corners and Nickel-and-Diming Customers - Econlib
In macroeconomics, the “circular flow of income” refers to the continuous flow of money between producers and consumers in the economy. Producers provide goods and services to consumers, who in turn pay for them. Producers then use this revenue to pay employees and suppliers, who become consumers themselves when they spend their incomes, and so […]
TheMoneyIllusion » Time to add the epicycles!
During the golden age of macroeconomics (roughly 1984-2007), many economists understood that interest rates were not monetary policy. After 2008, economists have been drifting back to old-school Keynesianism, with its emphasis on fiscal policy and interest rates.For the umpteenth time, it makes no sense to talk about interest rates causing changes in other macro variables. To do so