• GDP and Exogenous Spending (Graph)
  Is the multiplier 3 ?

• The Multiplier Effect -- Change in Exogenous Spending and Change in GDP (Graph)
  Or is the multiplier 1.5 ?

• Six Lectures on Depression Economics by Brad de Long, Sept. 2010.

• Power points on Okun's law

• The Great Depression Be sure to visit the
  photoessay and the art gallery.
  • The Great Depression in Nanty Glo

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• Powerpoints on Aggregate Demand (Keynsian Model)

• GDP in the Recession, 2007-2010
• Mugged by the Moralizers by Paul Krugman, New York Times, dated Oct. 31, 2010, published November 1, 2010. (Update to the Paradox of Thrift).
• Texbook Problems on Aggregate Expenditure (Chapter 8)
• More Problems on the Keynesian Model (Bernanke)
• Texbook Problems on Fiscal Policy (Chapter 9)

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Extra material

• Fiscal Policy in the Shadow of the Great Depression by Brad deLong, working paper, 1996.

• Effects of Fiscal Stimulus in Structural Models , by Douglas Laxton, Presentation (June 2, 2009) of a much larger paper, by Gunter Cohen, Cristopher Erceg, Charles Freedman, et al. (17 authors, including Laxton), Effects of Fiscal Stimulus in Structural Models , IMF Working Paper 10/73, March, 2010.

• The Global Integrated Monetary and Fiscal Model (GIMF) -- Theoretical Structure by Michael Kumhof, Douglas Laxton, Dirk Muir and Susanna Mursula. IMF working paper, Feb. 2010.

• How Big are Fiscal Multipliers? New Evidence from New Data , by Ethan Ilzetzki, Enrique G. Mendoza, and Carlos Vegh, Vox: Research Based Policy Analysis and Commentary from Leading Economists , 1 Oct. 2009.

• The Impact of the Economic Recovery and Reinvestment Act of 2009 , First Quarterly Report of the Council of Economic Advisers, Sept. 2009.

• The Federal Budget, 2012
  • Analytical Perspectives, 2012
  • See especially Budget Authority and Outlays by Function, Category, and Program

  • Budget Puzzle: You Fix the Budget New York Times, Nov. 13, 2010. Interactive graphic allowing you to balance the budget.

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