In HANK models, fiscal deficits drive aggregate demand and thus inflation because households are non-Ricardian; in the Fiscal Theory of the Price Level (FTPL), they instead do so via equilibrium ...
Included in Trump’s deregulation plan will be permitting reform, to not only unlock the fossil fuel spigots and produce more liquid gold, but also to open the door to pipelines, fracking and drilling ...
What links the two is the idea that a Trump victory will bring larger fiscal deficits than a Kamala Harris. Bigger deficits mean hotter growth and tighter monetary policy. There is also the notion ...
Further compounding these structural weaknesses is the unprecedented rise in public debt, which has surged by $17 trillion in the last decade, mirroring the “Kalecki-Levy equation” that links rising ...
Donald Trump will be president next year, and Republicans will have a firm grip on the Senate. But control of the House will set the terms of the debate over whether and how to extend the 2017 Trump ...