Wednesday, June 09, 2010

Great Words On Macroeconomics

It's not clear that you can write down a consistent model in which this works, but it is not clear the world behaves according to a consistent model.
That's Brad DeLong commenting on fiscal austerity translating into greater confidence in the stability of the economy of the government in question, thus heralding a recovery. But while the model's elusive the empirical evidence is hopeful.

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