The Libertarian: “The Future of Free Trade”

Greg Kaplan on the history of macroeconomic theory from Keynesian to Heterogeneous Agent New Keynesian Models, Bob Hall and Michael Woodford’s Nobel Prize, and his contributions to modeling heterogeneous agents. 

The unintended consequences of government intervention—and why voters keep supporting it.

In policy analysis, one must balance blue-sky and short-run approaches. We can ask, what is the right answer, unconstrained by the current situation and political reality? We can also ask, what little changes might one make to improve the current mess, given some view of political appeal and constraints?