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Just curious, what do you think any of this has to do with Solow? Brad Delong was mistaken about certain shocks within the framework of the 'Keynesian' model -
by Mikeb85 11y ago
Just curious, what do you think any of this has to do with Solow? Brad Delong was mistaken about certain shocks within the framework of the 'Keynesian' model - the Solow model is about how investment, capital and productivity (enabled by technology) sets long-run output.
- kaonashi 11y ago> Back before 2008, I used to teach my students that during a disturbance in the business cycle, we'd be 40 percent of the way back to normal in a year. The long-run trend of economic growth, I would say, was barely affected by short-run business cycle disturbances. it was a stupid flip comment based on that, probably best it was downvoted