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Mark Silverman
Mark Silverman is assistant professor of economics at Franklin & Marshall College in Lancaster, Pa. People -
Policy Note No. 2025/3What Do We Save When We DOGE the Government?
May 20, 2025 The second Trump administration has seemingly added a new term to the English vocabulary – getting DOGE-ed. Almost every week we hear about another government agency getting the DOGE treatment,...more Publication -
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Why “Output Gap” Is Inadequate
January 04, 2021 by Lekha Chakraborty and Amandeep Kaur[1] The macroeconomic uncertainty during the Covid-19 pandemic is hard to measure. Economists and policymakers use the “output gap” variable to capture “slack.” It is a deviation between potential output and actual output, which is a standard representation of a “cycle.” The potential output is an unobserved variable. There is [...] Blog -
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Bloomberg Interview: Wray on Modern Monetary Theory
July 31, 2019 Bloomberg Businessweek‘s Cristina Lindblad and Peter Coy sat down with L. Randall Wray for an in-depth interview on Modern Monetary Theory: [iframe src=”https://www.bloomberg.com/multimedia/api/embed/iframe?id=081295ee-e45c-4dae-a380-2989a5ad4c23″ allowscriptaccess=”always” frameborder=”0″></iframe] Blog -
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Deflation Über Alles
July 15, 2015 The “negotiations” that surrounded the latest Greek deal do not reflect well on the system (such as it is) of EMU governance. And there are no silver linings to be found in the outcome of this process. It is a testament to how far we are from “normal” that even the best-case scenario would have left little room for [...] Blog -
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End of Week Links 6/27/2014
June 27, 2014 Ann Pettifor, “Out of thin air — Why banks must be allowed to create money” “In his regular column, Martin Wolf called for private banks to be stripped of their power to create money. Wolf’s proposals are radical, and would give a small committee – independent of the state – a monopoly on money creation. … Furthermore, Wolf argues, private [...] Blog -
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The Biggest Speculative Bubble of All
September 22, 2011 (Cross posted from EconoMonitor) Back in fall of 2008 I wrote a piece examining what was then the biggest bubble in human history: http://www.levyinstitute.org/pubs/ppb_96.pdf. Say what? You thought that was tulip bulb mania? Or, maybe the NASDAQ hi-tech hysteria? No, folks, those were child’s play. From 2004 to 2008 we experienced the biggest commodities bubble [...] Blog