tag:blogger.com,1999:blog-5713178645208582139.post1132500856087930444..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: How Big is the Fiscal Multiplier?David Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5713178645208582139.post-90395358869852336502011-10-02T04:17:41.603-05:002011-10-02T04:17:41.603-05:00I suggest David Beckworth’s and Leeper’s arguments...I suggest David Beckworth’s and Leeper’s arguments have weaknesses.<br /><br />Leeper claims that fiscal stimulus will be amplified if it results in higher inflation which in turn leads to lower real interest rates. My answer to that is that given excess unemployment, fiscal stimulus WONT result in much extra inflation. Put another way, if fiscal DOES result in significant extra inflation, the Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-63923738881455197452011-09-30T16:55:40.343-05:002011-09-30T16:55:40.343-05:00Extremely good blogging by David Beckworth.
Yes,...Extremely good blogging by David Beckworth. <br /><br />Yes, I would like to print money and dump it low-income neighborhoods, as they would spend it. I would run a national lottery with larger pay-outs than receipts, and both tickets and winnings in smallish numbers. But these are not politically viable.<br /><br />So, Beckworth is 100 percent right--we have to convince the Fed to target NGDP,Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com