Prebuttal: Fiscal Policy Can Be Effective — Menzie Chinn

Summary:
Let’s hope we don’t go through the next recession debating in the same way whether fiscal policy can affect GDP, particularly during periods of economic slack and accommodative monetary policy (e.g., Fama, Mulligan, etc.).… If we do, I foresee social unrest.Menzie Chinn lays out an empirical case against neoclassical argument based on non-empirical assumptions like Ricardian equivalence, for example, that also turn out to be contradicted by data-based evidence.EconbrowserPrebuttal: Fiscal Policy Can Be EffectiveMenzie Chinn | Professor of Public Affairs and Economics, Robert M. La Follette School of Public Affairs, University of Wisconsin–Madison, co-editor of the Journal of International Money and Finance, and a Research Associate of the National Bureau of Economic Research

Topics:
Mike Norman considers the following as important: fiscal multipliers, fiscal stimulus, Ricardian Equivalence

This could be interesting, too:

Lord Keynes writes Proto-Keynesians in the Last Years of Weimar Republic Germany

Mike Norman writes Alan Longbon — Good News: U.S. Government Posts A 4 Billion Deficit For August 2018, The U.S. Private Sector Posts A 4 Billion Surplus

Mike Norman writes Lars P. Syll — Abba Lerner and the nonsense called ‘Ricardian equivalence’

Mike Norman writes Prakash Loungani — Links