tag:blogger.com,1999:blog-2499715909956774229.post2813777866383365399..comments2024-03-22T22:37:02.639-07:00Comments on Stephen Williamson: New Monetarist Economics: What do the German Finance Minister, the Chinese Government, Narayana, and Sarah have in Common?Stephen Williamsonhttp://www.blogger.com/profile/01434465858419028592noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2499715909956774229.post-73316970748363411202010-11-19T06:16:23.471-08:002010-11-19T06:16:23.471-08:00Citoyen,
If Krugman's game is obvious to ever...Citoyen,<br /><br />If Krugman's game is obvious to everyone, I guess there is no good reason to write about it.<br /><br />1. Yes, I was talking about Shimer's work with Andolfatto the other day. Shimer's point is that real wage rigidity can give you jobless recoveries. The key problem seems to be in the measurement of real wages. It's a hard problem to even sort out in the data whether real wages are procyclical or countercyclical, due to composition effects.<br /><br />2. Yes, Krugman seems to be very proud of his paper. I have not read it yet.Stephen Williamsonhttps://www.blogger.com/profile/01434465858419028592noreply@blogger.comtag:blogger.com,1999:blog-2499715909956774229.post-59380435377123994432010-11-19T02:33:34.726-08:002010-11-19T02:33:34.726-08:00Hey, sorry for the offtopic.
I'd like to know...Hey, sorry for the offtopic.<br /><br />I'd like to know your opinion about these two pieces (I was really expecting you spontaneous reaction to krugman's!): <br /><br />http://andolfatto.blogspot.com/2010/11/wage-rigidities-and-jobless-recoveries.html<br />http://www.voxeu.org/index.php?q=node/5823<br /><br />By the way, as a former fan of krugman, I must say that the post he wrote the other day about what is difference between conservative and liberal economists and fighting the homo oeconomicus straw man was for me a turning point. He was just behaving stupidly.Citoyenhttps://www.blogger.com/profile/17906750069883516187noreply@blogger.com