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Vince Richardson
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I agree with Ralph. The best way to have fiscal stimulus influence aggregate demand is to have some sort of committee of economists decide the size of the deficit, while democratically elected politicians decide the obviously political stuff, like what proportion of GDP goes to the public sector.
Commented Nov 2, 2016 on Assignment of targets to instruments, stability, and Functional Finance at Worthwhile Canadian Initiative
Assignment of targets to instruments, stability, and Functional Finance
J.W. Mason and Arjun Jayadev have a paper making a new (to me) point about the assignment of targets to instruments. First I'm going to present an (over-?) simplified version of their model, to explain the gist of it. [I think I've got the gist of it, but I'm not 100% sure, and I know my simplif...
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Nov 2, 2016
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