Tag Archives: potential output
Why The CBO’s ‘Mr. Smith’ Has More Work To Do
From budget projections released by the Congressional Budget Office (CBO) last week: CBO now expects that output will fall slightly short of its potential, on average, even after the economy has largely recovered from the recent economic downturn. Translation: We’ve … Continue reading
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Tagged automatic stabilizers, budget projections, business cycle, CBO, CBO baseline scenario, Congressional Budget Office, Ford House, Great Moderation, Jefferson Smith, potential growth, potential output
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Divisions on the Left: Jeffrey Sachs Responds to Summers and Krugman
Here’s an excerpt from a provocative article written by Jeffrey Sachs this week: [I]t is very frustrating to read Paul Krugman again today write about our current stagnation with so little reflection on his part that his own preferred stimulus … Continue reading
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Tagged Arnold Kling, Jeffrey Sachs, Larry Summers, malinvestment, Paul Krugman, potential output
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