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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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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