[ Post New Message | Post Reply to this One | Send Private Email to Brad DeLong | Help ]

Response to macro policy

from Brad DeLong (delong@econ.berkeley.edu)
Well, we hope that we can shrink them and thus make life a little more predictable. And if we are lucky we might be able to fill in the recession troughs without shaving off the peaks.

Just because something is an "equilibrium" doesn't mean that it is good: there may well be better equilibria out there that could also be reached. An equilibrium is a point of stability, not necessarily someplace you want to be.

(posted 8589 days ago)

[ Previous | Next ]