Alex Tabarrok narrates a very good video on the Great Depression. It's called "Understanding the Great Depression." In it, he applies an aggregate demand/aggregate supply framework and puts most of what happened in that framework. I have two criticisms, but they shouldn't be interpreted to mean that the video is weak: it's quite good.
Allan Meltzer, the internationally renowned economist and esteemed Carnegie Mellon University professor, died on May 8 at the age of 89. Meltzer was a pioneer for policy reform, a prolific author, a teacher, and a leader in his profession.
According to Japan’s GDP figure for the first quarter of 2017 (released on May 18), the Japanese economy has grown by an annualized real rate of 2.2%. Most welcome this as the country's longest economic expansion in 11 years. Don't be fooled by this figure. It is actually a warning sign for Japan’s policymakers. Why? Because the nominal GDP has been shrinking slightly. The gap between growing real GDP and slightly shrinking nominal GDP is, of course, deflation. GDP deflator has declined by 0.6%.