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Hoover Daily Report by topic: Economic Theory

July 19, 2011 | Economics One

What Does Anti-Keynesian Mean?

In my view the essence of the Keynesian approach to macro policy is the use by government officials of discretionary countercyclical actions and interventions to prevent or mitigate recessions or to speed up recoveries...
July 7, 2011 | Echoes (Bloomberg)

On the 10th Anniversary of the Keynesian Revival

The overall experience of the Keynesian revival in the 2000s raises doubts about the effectiveness of these stimulus packages. And it adds more weight to the position reached more than 30 years ago by Robert Lucas, Thomas Sargent and many others...
June 7, 2011 | Cafe Hayek

Eichengreen on the dollar

This week’s EconTalk is Barry Eichengreen talking about the dollar...For me, the most interesting part of the conversation was a discussion of China’s alleged currency manipulation to keep their exports high...
June 6, 2011 | Economics One

Lessons From the Financial Crisis For Teaching Economics

The good news for teaching is that the crisis has left us with many examples where teachers can illustrate basic economic principles...
May 31, 2011 | Economics One

Taylor Rule Recommends Raising Rates

Over here at Economics One, I can report that the Taylor Rule says that the fed funds rate should now be 1 percent, and I can provide the calculations...
May 30, 2011 | Economics One

Regulatory Capture and Reckless Endangerment

How can we prevent regulatory capture and thereby avoid the harmful policy it causes? Studying economics is not enough, at least according to Reckless Endangerment...
May 22, 2011 | Economics One

Causation From Base Money To The Multiplier: The QE2 Evidence

During the panic in the fall of 2008 some interpreted the explosion of the Fed's balance sheet and the monetary base (MB)—currency plus reserves of banks at the Fed—as an appropriate monetary policy response to a shift in the demand for the monetary base...
May 9, 2011 | Cafe Hayek

Easterly on Fukuyama

I think it’s Hayekian to be skeptical of systems where feedback loops don’t work very well. “More from the bottom up or more top down?” More bottom up, please...
May 1, 2011 | Cafe Hayek

Keynes and central planning

Barkley Rosser at EconoSpeak says John Papola and I have accused Keynes of having “a central plan” in our rap video...There’s only one problem with all this and that’s that the accusation against us is something of a straw man...
April 28, 2011 | Cafe Hayek

The Fight of the Century

My second rap video with John Papola is now live. Please spread it wide and far...