Brad DeLong, Larry Summers, and Laurence Ball: Wednesday Focus: April 2, 2014

Brad DeLong, Larry Summers, and Laurence Ball: Fiscal Policy and Full Employment: “

At present and going forward, activist fiscal policy is likely to be essential for the American economy to operate near potential levels of output and employment. This conclusion is a substantial change in view from the near-consensus of economists that monetary policy alone could and should be left to carry out the stabilization policy mission, a view that prevailed for nearly a generation prior to the 2008 financial crisis. READ MOAR