Robert's Stochastic thoughts
Asymptotically we'll all be dead
Friday, February 20, 2015
Old Keynesians on Monetary Offset of Fiscal Policy
This is an ultra pointless
"someone is wrong on the internet"
post. I think I read somewhere the suggestion that Keynesians had to be told by market monetarists that fiscal stimulus can (at least usually) be offset by monetary policy. I think Keynesians have made this point for a while. Here I cut and paste from
Samuelson and Solow (1960) "Analytic Aspects of Anti-Inflation Policy" pdf warning
also known as the Phillips curve paper.
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