John Cochrane, Thursday, September 20, 2012:
I agree with the conclusion (high debt is likely to cause low growth).
Challenging the Premisses
Start with the debt problem, three views of it,
and the most important thing. Here's a longer look at the debt problem.
Here's a short one on economic policy, some surprising trends, and a few unusual policy recommendations. How'd we get into this mess? Read Policy Venn and Policies of the Venn Overlap. Still with me? Read A Matter of Life and Death. And for an overview, download my 12-page PDF |
I agree with the conclusion (high debt is likely to cause low growth).
1 comment:
I was going to slog my way through Cochran's article, but I threw it in when he brought out the confidence fairy stuff.
Two points. 1) Having status as issuing the world's reserve currency puts a country in rather a special position. B) things are different at the ZIRB.
JzB
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