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Most recent posts

  • Ways to avoid US debt default.

    posted to Robert's Stochastic thoughts on Mon 7th Oct 13

    Obiousely the main chance is that Beohner is bluffing and that he will bring a clean debt ceiling inrease bill to the floor of the House and it will pass mostly with the votes of Democrats.  He would then probably lose the gavel to some new Speaker which

  • There is no Hastert Rule

    posted to Robert's Stochastic thoughts on Fri 4th Oct 13

    Dennis Hastert just said that there is not and never has been a Hastert rule.  He insists that he never had a rule that only bills supported by a majority of House Republicans would be brought to a vote.  Hastert is very hard on Boehner.  He

  • Normalizing the Filibuster

    posted to Robert's Stochastic thoughts on Mon 30th Sep 13

    Well it's happened.  The Senate Republican caucus has convinced journalists that filibusters are normalIn the New York times Jeremy W. Peters and Jonathan FBD Weisman write. "All Mr. Reid needs are 51 Democrats to vote with him not the usual 60-vote threshold

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  • A quote from Samuelson and Solow 1960

    posted to Robert's Stochastic thoughts on Sat 13th Jul 13

    I think this quote makes it clear that the rational expectations revolution was based on fraudulent intellectual history.  I don't think it shows that the fresh water and new Keynesian schools of macroeconomics have made no useful advances during my lifetime

  • unknown

    posted to Robert's Stochastic thoughts on Fri 18th Sep 09

    What would it take for Say's law to holdSay thought that aggregate demand had to equal aggregate supply. This is true in the simplest model in which people trade non durable consumption goods (always called apples and oranges). Add up individual budget constraints

  • unknown

    posted to Robert's Stochastic thoughts on Sun 22nd Mar 09

    Attempted DeLong smackdown meets It's a Dirty Rotten Job But Someone's Got to Do It.Brad DeLong attempts to defend the Geithner plan. I consider this a good sign for the USA and a bad sign for Berkeley economics department economic history teaching. He is brilliant

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