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Daily Archive for January 14th, 2009

Reality Based Economics

Posted in Economics Problems, Politics on Jan 14th, 2009

Greg Mankiw demonstrates: Apparently, Team Obama is not convinced by the recent research of Christina and David Romer, who conclude: tax changes have very large effects on output. Our baseline specification suggests that an exogenous tax increase of one percent of GDP lowers real GDP by roughly three percent. Our many robustness checks for the […]

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An Honest Mistake

Posted in Politics on Jan 14th, 2009

Tim Geither, nominee for Treasury Secretary, has been found to not paid $34,000 in taxes over a 4-year period when he earned income (as a consultant?) from the IMF that was not salary income. Some folks are using this issue to raise questions about his ethics and whether he is fit for the job.

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