"The author cites some Chicago scholars, like Richard Posner and Raghuram Rajan, who are building on the lessons of the crisis to build a better Chicago approach to macroeconomics. Others in the department appear to be lost. Casey Mulligan has advocated a 'Great Vacation' view of the recession, in which the unwillingness of workers to take jobs has played a significant role in driving up the unemployment rate. John Cochrane is quoted in the New Yorker piece attributing the financial crisis to a speech by President Bush acknowledging that financial markets were in trouble, and not the problems generated by insolvency at the nation's largest banks. It's not very pretty."
John Cassidy, “After the Blowup,” The New Yorker, January 11, 2010
The Economist Free Exchange blog, "Tough times for Chicago", 5 januari 2010
John Cassidy, "Interview with Eugene Fama", The New Yorker 13 januari 2010
The Economist Free Exchange blog, "Really tough times for Chicago", 14 januari 2010
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UPPDATERING
Återigen sågar Economists Free Exchange-blogg Chicagoskolan i form av Casey Mulligan och hans senaste argument för varför keynesiansk stimulanspolitik inte kan skapa jobb i privat sektor: "Bad economists", 15 september 2010.
- jfr 17 mars 09 om Buiter och Rodrik, 11 mars 09 om DeLong (neokeynesianism) vs Zingales (Chicago), 16 jan 09 om DeLong (neokeynesianism) vs Fama (Chicago), 21 dec 08 om keynesiansk krisbekämpning, 23 apr 09 om rationella förväntningar.
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