This is Kevin Donoghue's Typepad Profile.
Join Typepad and start following Kevin Donoghue's activity
Join Now!
Already a member? Sign In
Kevin Donoghue
Recent Activity
Nick, Maybe I'm being unfair but I think you're making a mountain (or at least a mound) out of a molehill here. Consider a simple 2-period Old Keynesian model, where G1 is current-period government purchases and G2 is government purchases in the long-run (the rest of time). Since G2 is part of The State of Long Term Expectation, traditional OK modelling treats it as an exogenous constant. If G1 increases, it necessarily reduces Gdot = (G2-G1)/G1. So there isn't much difference between Old and New really, in that respect.
1 reply
Annoyingly, I've run out of monthly visits to the NYT, and can't see PK's latest. Does he just say "read Noah"? A bit more than that. I just sent you an e-mail. Kevin Donoghue
1 reply
Kevin Donoghue is now following The Typepad Team
Mar 20, 2013