The simple macroeconomics of labor unions

Biography: J. Bradford DeLong is a professor at the University of California at Berkeley, a research associate of the NBER, a visiting scholar at the Kauffman Foundation, and a visiting fellow at the Harvard Kennedy School. From 1993-95 he was a deputy assistant secretary of the U.S. Department of the Treasury. C.V.: http://delong.typepad.com/files/20130401-delong-short-cv.pdf Abstract:

Richard Murphy shows how not to argue against Osborne’s fiscal austerity. He writes:

Normally we think of exchange rate policy through the lens of its impact on bilateral trade. If China makes its currency cheaper, that boosts Chinese exports to the U.S. and depresses Chinese consumption of goods. Scott Sumner says this is the wrong way to think about monetary policy during a severe recession:

In which I join the ongoing debate on how much we should expect fiscal and monetary stimulus to accomplish. Arnold Kling has proposed a "recalculation" theory of macroeconomics:

Dave here. Big apologies, apparently I cross-posted the wrong post. This is going to get me thrown out of guest-posting school!

Four years ago: Brad DeLong : Technological Regress in the Thinking of William Poole:

The way to analyze whether, at the margin, it is raising or lowering government spending that is better for the economy right now is to do a benefit-cost analysis. Following DeLong and Summers (2012), let the parameters for an economy at the zero lower bound of nominal interest rates and with anchored inflation expectations be:

Interpreting Monetary Policy’s Impact on Exchange Rates (and Economic Activity) Over a week ago, the Bundesbank President Jen Weidmann warned against the politicization of Japanese monetary policy, the BoJ was pressured for more expansionary policy. [1] Nouriel Roubini warned that a currency war could lead be self-defeating as each country’s laxer monetary policy merely resulted in higher commodity prices.