In macroeconomic theory, there is this argument that what the Fed does has no effect on unemployment, no effect on investment, no effect on the rate of GDP growth. (Paul Romer)

In macroeconomic theory, there is this argument that what the Fed does has no effect on unemployment, no effect on investment, no effect on the rate of GDP growth.

Paul Romer

Related topics

argument fed gdp

Related quotes

My emotional investment is in finding truth. If string theory is wrong, I'd like to have known that yesterday. But if we can show it today or tomorrow, fantastic. View quote
Brian Greene
We've set aside tens of millions of acres of those northwestern forests for perpetuity. The unemployment rate has gone not up, but down. The economy has gone up. View quote
Bruce Babbitt
A key element in all Keynesian models is a ‘trade-off between inflation and real output: the higher is the inflation rate; the higher is output (or equivalently, the lower is the rate of unemployment). View quote
Robert Lucas, Jr.
If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain. View quote
William Vickrey
Both a priori reasoning and experience teach us that as as these funds grow larger the geometrical rate of growth by compound interest ultimately defeats itself. View quote
Benjamin Graham