Simon Wren-Lewis: Endogenous Supply and Depressed Demand: “Without fiscal austerity the US, UK and Eurozone… …could currently be at output levels that are above current estimates of potential or natural output…. But are these estimates of potential output really independent of the path of actual output?… We know that stylised view is wrong for a … Continue reading Afternoon Must-Read: Simon Wren-Lewis: Endogenous Supply and Depressed Demand