Talk: Preliminary Notes on Fiscal Policy in a Depressed Interest-Rate Environment: The Honest Broker for the Week of March 15, 2014

No paper, just notes–a not-very-successful attempt to deliver on my promise to Larry Summers to think about “secular stagnation” issues. What I think economists need to be thinking about if we are semi-permanently in a world in which demand for safe assets is very high, trust in the private-sector ability to create and guarantee such assets is very low, and inflation remains low…

• Slides: Fiscal Policy in a Depressed Interest-Rate Environment: .pdf | .key
• Notes on Fiscal Policy in a Low-Interest Rate Environment:
  • The Historical Pattern of Interest Rates: .pdf | .pdf
  • Countercyclical Fiscal Policy: .pdf | .pages
  • The Treasury as Renaissance Banker for the Twenty-First Century: .pdf | .pages
  • Reinhart-Rogoff Issues: .pdf | .pages

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