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DRAFT: Did Macroeconomic Policy Play a Different Role in the (Post-2009) Recovery?: Banking/Regulatory Policy

J. Bradford DeLong U.C. Berkeley October 15, 2016 The effects of the housing bubble on the stock of residential capital appear to be a triangle with a base four years wide and a height of 2%-points of GDP. That is 4%-point-years of GDP’s worth of excess residential construction: that is...
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DRAFT: Did Macroeconomic Policy Play a Different Role in the (Post-2009) Recovery?: References

Business & Finance / Economics : Grasping Reality with Both Hands

J. Bradford DeLong U.C. Berkeley October 15, 2016 George Akerlof, William Dickens, and George Perry (1996): The Macroeconomics of Low Inflation Walter Bagehot (1873): Lombard Street: A Description of the Money Market Laurence Ball (...

DRAFT: Did Macroeconomic Policy Play a Different Role in the (Post-2009) Recovery?: Monetary Policy: The Flexible Yardstick of the Taylor Rule

Business & Finance / Economics : Grasping Reality with Both Hands

J. Bradford DeLong U.C. Berkeley October 15, 2016 The consensus for interest rate policy as an aspect of monetary policy back in 2007 was some version of Taylor’s (1993, 1999) interest rate rule (cf. also: Henderson and McKibbin (19...

DRAFT: Did Macroeconomic Policy Play a Different Role in the (Post-2009) Recovery?: Monetary Policy: Options at the Zero Lower Bound

Business & Finance / Economics : Grasping Reality with Both Hands

J. Bradford DeLong U.C. Berkeley October 15, 2016 But there is more to monetary policy than just interest rate policy constrained by the zero lower bound. There had been substantial thought back before 2008 about what to do at the z...

DRAFT: Did Macroeconomic Policy Play a Different Role in the (Post-2009) Recovery?: Fiscal Policy

Business & Finance / Economics : Grasping Reality with Both Hands

J. Bradford DeLong U.C. Berkeley October 15, 2016 The near-consensus policy rule for fiscal policy’s countercyclical role back in 2008 was simple: it had none. Automatic stabilizers were allowed to function, were even encouraged, an...

DRAFT: Did Macroeconomic Policy Play a Different Role in the (Post-2009) Recovery?

Business & Finance / Economics : Grasping Reality with Both Hands

J. Bradford DeLong U.C. Berkeley October 15, 2016 Federal Reserve Bank of Boston 60th Economic Conference The Elusive “Great” Recovery: Causes and Implications for Future Business Cycle Dynamics Abstract: How has macroeconomic polic...

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