DeLong

Archive for DeLong

Last One I Promise: Krugman on DeLong on Murphy on Potential GDP

I’m just trying to get my ducks in a row here “among friends” before I go out into the cruel world. I think I have a very strong case so I don’t want to commit an unforced error. A few of you who have no axe to grind (such as Capt. Parker, who is outranked […]

Actual vs. Potential (Real) GDP

So here is what the CBO/BEA now say, from 2000 through the present: Now be careful: The series for potential real GDP is quoted in 2009 dollars, whereas the real GDP series is in 2012 dollars. So to make them apples to apples I multiplied the former by 1.0639, because this calculator said that was […]

Krugman Potentially Owes Me an Apology

First, some background: ==> In August 2013 Brad DeLong wrote a blog post wondering why the Fed wasn’t proceeding full-steam ahead. He wrote: There are no signs in the pace of technological progress, in the level of investment, in the pace at which the American labor force educates itself, in measures of capacity utilization, in […]

I Took Down My Brad DeLong vs. John Cochrane Post

Well shoot, I still think Brad DeLong was very unfair to John Cochrane when he said that in his Cochrane’s WSJ op ed, Cochrane “draws this curve:” and then posts a curve that DELONG drew, not Cochrane. That’s the upfront, gripping part of the post, and when I first read it, I too was stunned […]

DeLong Gives Me Whiplash

[Two UPDATEs below, one embedded and one at the end.] I have to be brief, so if you’re a newcomer to this blog, you won’t get much from this. But back in early 2009, Brad DeLong was very skeptical about the ability of the Federal Reserve to rescue the world economy from the ravages of the […]

Explaining the Mysterious Sachs to DeLong and Wren-Lewis

[UPDATE below.] Jeffrey Sachs wrote a post critical of Paul Krugman, who lately has been running victory laps over the Obama recovery without acknowledging that he (Krugman) has spent the last two years warning of the horrible effects of sequestration. As you can imagine, the Keynesian bloggers were none too happy about it. Right now, […]

Krugman’s Latest Post: “Murphy Was Right”

Well, not his exact words, but see for yourself. I’m serious, this isn’t a Kontradiction, this is a flat-out contradiction, is it not? If you want to be super squirmy and get him out of this Houdini-style, I suppose you could argue, “Krugman 2014 is clearly contradicting Delong 2013, but not necessarily Krugman 2013. Krugman […]

DeLong and Krugman Have a High Rate of Deprecation (sic)

We also would have accepted, “Why oh why can’t we have better Keynesian bloggers?!” This isn’t worth me writing up in another outlet, but I know some of you like this petty stuff… (I sure do.) ==> Some of you may remember that Krussell and Smith wrote up a Note on Piketty, explaining why his […]