LeeCoppock.com
Econ News You Can Use
Category: Aggregate Demand and Aggregate Supply
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Ben Bernanke is serving his last week as the Chair of the Federal Reserve and will be replaced by Janet Yellen on February 1st, which makes this a good time to consider his track record. I agree with Kevin Grier (aka Angus), who praises Bernanke for avoiding both financial catastrophe and inflation. Ben considers the…
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The third (and final) GDP estimate for the third quarter revised growth up yet again, this time to 4.1%. This figure indicates that growth was stronger in the third quarter than at any time since the end of 2011. The graph below shows quarterly growth rates since 2003. Notice that 4.1% is larger than all…
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Japan is simultaneously implementing both expansionary and contractionary fiscal policy. According to The Wall Street Journal, the massive government debt has necessitated an increase in the national sales tax: Prime Minister Shinzo Abe took a long-awaited decision to raise Japan's sales tax by 3 percentage points (LC: up to 8% total), placing the need to…
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One of my pet peeves is the myopic view that our most recent recession (the Great Recession) is comparable to the contractions of the 1930s (the Great Depression). Photographs from the Depression era are very helpful in dispelling this misconception. Today's Mail Online published a series of poignant Walker Evans photos from the 1930s, which illustrate…
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