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Eco 348, The Great Recession: Readings (preliminary and incomplete) Feb.

3: Overview Eichengreeen and O’Rourke, “A Tale of Two Depressions” DeLong, “The Great Depression from the perspective of today” Nick Crafts, “If only it were the 1930s”, NIESR: Feb. 5: Basic short-run macro Hicks, “Mr.Keynes and the classics” Krugman, “IS-LMentary”: David Romer, “Short-run fluctuations” Feb. 10: The Great Moderation Bernanke, “The great moderation”: Blanchard and Simon, “The decline in U.S. output variability”: Feb. 12: Bubbles Shiller, “From efficient markets theory to behavioral finance” Greenspan 2004 Minsky moment: FCIC report,, part III Feb. 17: Crisis models Diamond-Dybvig: Gorton, “Slapped in the face”, Bernanke, “The crisis as a classic financial panic”, Feb. 19: The panic FCIC report:, part IV Feb. 24: Bailout

167 Eichengreen et 26: The euro crisis O’Rourke and Mar.html Cochrane: http://faculty.html?ref=paulkrugman Alesina and Ardagna: http://pubs.imf. http://www.cfr. 3: War among the economists Krugman on economists: 31: Austerity debates I: Short-run effects Krugman. 12: Midterm Mar. “Myths of austerity”: Liquidity preference: http://krugman.recovery.imf. 5: The end of the panic Economic Report of the IMF I: IMF.html?pagewanted=all&_r=0 Fama: “The mother of all sudden stops”: http://www.pdf IMF II: http://www.pdf CBO on ARRA: Lucas: http://www.blogs.1257/jep. 24: The euro Euro@10: Mar.TARP: http://www. http://www. 10: Global spread and stabilization IMF World Economic Where the money went: http://www. 2010: http://www.imf.pdf Feb.gpo. 26: Stimulus Romer-Bernstein Assessment: Mar.27.pdf Mar.0 .aspx Beveridge curve analyses TK Apr. Inflation or deflation? Krugman.typepad.cfr. Reifschneider et al: http://www. a primer: http://www.econ.newyorker. 7: Monetary debates I. “Crunch time” http://dss.kansascityfed. “Inflation nation”.ucsd. “Inflation is looming” http://economistsview. quantitative easing The data: http://clevelandfed.pdf April 21: Long-run fiscal outlook Latest CBO projections April 23: Crisis stories Blanchard on Latvia IMF on Iceland .imf. 14: Unemployment.pdf De Grauwe. http://www.html CFR symposium 2009: http://www. Reinhart-Rogoff and all that: http://www.pdf Woodford on forward guidance: 16: Hysteresis DeLong and Summers: http://www.html?pagewanted=all Feldstein. structural or cyclical Edward Apr.9: Monetary policy II. TK Apr.nytimes. 2: Austerity debates II: Debt Greenlaw et al.cfm Blinder.blogs.

April 28: Secular stagnation? Summers speech Krugman on Summers April 30: The new normal? .