Fiscal Stimulus: Old Keynesian vs. New Keynesian

This is fascinating stuff! John Cochranne urges us to call spade a spade and be done with it in this very interesting blog post: New vs Old Keynesian stimulus. Then you have Steve Williamson commenting on Cochranne here: John Cochranne and Keynesian Economics, while Nick Rowe adds his own views on these differences here: On understanding and spinning your own New Keynesian model.

You can find John’s extremely insightful paper here: New Keynesian Liquidity Trap.

Enjoy!

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