Description: O ekonomiji in ostalem
Michael Roberts Blog
A recent paper by mainstream heavyweights, Ben Bernanke (former Federal Reserve chief) and Olivier Blanchard (former chief economist at the IMF) has raised some eyebrows. Bernanke and Blanchard seek to argue that the inflationary spike in the US since the end of Covid pandemic slump was down to a sharp rise in ‘aggregate demand’ and not due primarily to supply blockages and weak productivity recovery in key sectors that I and others have argued – and certainly not due to ‘greedflation’, ‘price gouging’ or
This is what they argue: “ Ultimately, as many have recognized, the inflation reflected strong aggregate demand, the product of easy fiscal and monetary policies, excess savings accumulated during the pandemic, and the reopening of locked-down economies.” So the inflation burst was due to too much fiscal spending during the pandemic; too easy monetary policies (low interest rates) and a build-up of savings…
F.R.E.I.T. Forum for Research in International Trade
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Mladinski servis Murska Sobota | Študentska dela v Pomurju! Nega več časa, prijavi se ZDAJ!