tag:blogger.com,1999:blog-5713178645208582139.post3522140215392650976..comments2024-03-17T03:26:42.785-05:00Comments on Macro Musings Blog: If the Germans Were Serious About Stabilizing Aggregate DemandDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5713178645208582139.post-19112648418413253522011-11-27T15:12:25.230-06:002011-11-27T15:12:25.230-06:00Since Q3 2008, ngdp in Germany has increased at a ...Since Q3 2008, ngdp in Germany has increased at a 4.3% annual rate, and in the last 2 quarters the rate of increase has been only 2.46% in Q2 and 3.91 in Q3. So even for Germany the rate is below the 5% benchmark.David Glasnerhttp://uneasymoney.comnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-63750765919690615272011-11-23T22:59:02.007-06:002011-11-23T22:59:02.007-06:00This reminds me of a jesting hypothesis you mentio...This reminds me of a jesting hypothesis you mentioned in one of your classes last spring that I found interestingly feasible regarding German philosophy.Bugghttps://www.blogger.com/profile/08714049074492937119noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-26239057185075227792011-11-23T17:46:01.261-06:002011-11-23T17:46:01.261-06:00So assuming that Germany will not accept the hig...So assuming that Germany will not accept the higher inflation that would result from a Euro-wide expansion of monetary policy , then the only alternative to a deepening recession is a break up of the Euro-zone so that each country can pursue its own monetary policy.<br /><br />Is that where this analysis leads ?Robnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-51952006730999035372011-11-23T12:31:44.837-06:002011-11-23T12:31:44.837-06:00The Depression was a wonderful time if you happene...The Depression was a wonderful time if you happened to be one of the people with money. Servants were cheap and easy to find. The Germans are probably thinking along those lines.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-10762777763478530362011-11-23T05:10:19.270-06:002011-11-23T05:10:19.270-06:00This post is - perhaps unintentionally - disingenu...This post is - perhaps unintentionally - disingenuous, but it does illustrate one of the problems of NGDP targeting.<br /><br />I came to this post having read the one above, in which you argue that the US has a trend growth rate of 3% - ie a compound rate of growth. In this post, however, you present a linear trend, from which you conclude that German growth is above trend. I dare say that if RebelEconomisthttps://www.blogger.com/profile/13241098878248190971noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-77581710886279725042011-11-23T03:47:59.154-06:002011-11-23T03:47:59.154-06:00Is there any reason why Germany could not use fisc...Is there any reason why Germany could not use fiscal policy to push down on nominal demand in Germany, rather than requiring monetary tightening?<br /><br />It is a curious asymmetry with e.g. the US or UK where politicians obsess about how best to use fiscal policy to boost demand.Anonymousnoreply@blogger.com