tag:blogger.com,1999:blog-2277215496195926573.post7461411304084754433..comments2024-01-01T07:41:51.347-08:00Comments on RALPHONOMICS: Paul Krugman is brilliant.Ralph Musgravehttp://www.blogger.com/profile/09443857766263185665noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2277215496195926573.post-48528962639234502532014-04-06T20:44:43.896-07:002014-04-06T20:44:43.896-07:00Yes, it is a brilliantly written piece from Krugma...Yes, it is a brilliantly written piece from Krugman. <br />But his policy conclusion is less than brilliant: "Raise the inflation target to 4 percent, dummies"!<br />N.B. 4% is a target, not an upper bound.<br /><br />Presumably this has something to do with the possible effects of slightly negative expected real interest rates on aggregate demand and secular stagnation. <br /><br />The active fiscal policy advocated by Ralphanomics is more likely to be effective.KongKinghttps://www.blogger.com/profile/10992633301481631373noreply@blogger.com