Brad DeLong
Seeking Alpha
Berkeley, CA, United States
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Past articles by Brad:
What Is The Federal Reserve Thinking Right Now?
The Federal Reserve is not an intelligence: it does not think. Individual members of the Federal Open Market Committee, however, do think. An inverted yield cur → Read More
Yes, The Fed's Target Is Now Too High. Why Do You Ask?
Even though the first quarter of 2019 is only two-thirds over, practically all of the private-sector decisions that will determine the level of economic growth → Read More
Supply And Demand Shocks, And Seasonal Adjustment
Think that there are no such things as aggregate fluctuations generated by shifts in tastes and technologies? Look at the pattern of monthly payroll employment → Read More
Tail Risks
Tail risks. Can we afford right now to think about tail risks? Probably not: Right now, what were our tail risks have become head risks, and given them and our → Read More
Unemployment and inflation once again...
The public discussion about inflation and unemployment appears to me to be substantially awry. It appears to incorporate two, and only two, lessons from history. The first of these lessons is that pushing the unemployment rate below the level corresponding to full employment leads to strong upward pressure on inflation. The second of these lessons … → Read More
Brad DeLong: Worthy reads on equitable growth, May 10-17, 2018
Worthy reads at Equitable Growth: The awesomely smart and industrious Chye-Ching Huang of the Center for Budget and Policy Priorites praises Greg Leiserson’s must-read guide to understanding last… → Read More
Should-Read: David Vines and Samuel Wills: rebuilding macroeconomic theory project: an analytical assessment
Should-Read: Once again: I believe this fundamentally misconceives the origins and the utility of New Keynesian models. There are things that they are good… → Read More
Should-Read: David Rezza Baqaee and Emmanuel Farhi: The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten’s Theorem
Should-Read: Nicely done: David Rezza Baqaee and Emmanuel Farhi: The Macroeconomic Impact of Microeconomic Shocks: Beyond Hulten’s Theorem: “We provide a… → Read More
3 Books For 2017: Economics For The Common Good, Janesville, Economism
Ken Murphy asked me for three books for 2017. Mine are: Amy Goldstein: Janesville: An American Story, Jean Tirole: Economics for the Common Good, and James Kwak → Read More
Brad DeLong and Charlie Deist on Austrian Economics
Charlie Deist: Brad DeLong on Austrian Economics: Charlie Deist: Good morning everyone, and welcome to the Bob Zadek Show. I’m Charlie Deist, Bob’s producer, once again filling in for Bob, who will be… → Read More
Monetary Policy Outlook: The United States (Fall 2017)
What Will (Probably) Happen? What the Federal Reserve thinks: that the U.S. economy is near full employment. that U.S. potential-output growth rate is 2%/year. → Read More
Must-Read: Michael Reich, Sylvia Allegretto, and Anna Godoey: Seattle’s Minimum Wage Experience 2015-16
Must-Read: Michael Reich, Sylvia Allegretto, and Anna Godoey: Seattle’s Minimum Wage Experience 2015-16 on Equitable Growth | Must-Read: Low-end labor… → Read More
Should-Read: Mark Thoma: Trump’s Apprenticeships are Based upon a Problem That Doesn’t Exist
Should-Read: Mark Thoma: Trump’s Apprenticeships are Based upon a Problem That Doesn’t Exist: “The evidence… points to a skills mismatch… …workers employed in jobs that do not match their qualifications, or unemployed workers with the right skills but located in the wrong place – rather than a shortage of workers with the requisite skills. … → Read More
Should-Read: Peter Coy: Piketty’s Capital Was So Popular There’s a Sequel
Should-Read: Good for you, Peter, in reading “the introduction, the retrospective by translator Arthur Goldhammer, and bits and pieces of some of the following essays.” I would recommend that you… → Read More
Reflecting on Masterclasses in Rhetoric Taught in Recent Videos…
I highly recommend watching my Milken Institute panel last week: Or, alternatively, at least read the transcript—but watching is better. The panel is worth watching and reflecting upon and not just… → Read More
“Capital in the Twenty-First Century,” Three Years Later
The following is an excerpt from After Piketty: The Agenda for Economics and Inequality, edited by J. Bradford DeLong, Heather Boushey, and Marshall Steinbaum and published by Harvard University… → Read More
Where US Manufacturing Jobs Really Went
In the decade between 1999 and 2009, the number of jobs in manufacturing fell from 17 million to 12 million, giving rise to the idea that the US economy suddenly stopped working – at least for blue-collar males – at the turn of the century. But it is wrong to suggest that previously all was well in US manufacturing. → Read More
Artificial Intelligence and Artificial Problems
It is unhelpful to stoke fears about "the rise of the robots" or the possibility that artificial intelligence will take American jobs. If public policy ensures a fair balance of relative incomes across society, technological progress in a market economy need not impoverish unskilled workers. → Read More
Will Somebody Please Tell Me Why The Federal Reserve Has Embarked On A Tightening Cycle Again?
With 2017 Q1, real GDP growth currently forecast at a 1.2% annual rate - down from 2.7% expected last December - it is worth pausing to remember that if that n → Read More
Rethinking economic progress, and how far we have yet to go
By one standard, the world’s population is 20 times richer than our ancestors in the Agrarian Age, but that measure does not count the incredible expansion of choices undreamt of even a few years ago, writes Brad DeLong. → Read More