The following graph may look a bit odd, since it has no curve on it. But it shows something cool. If I did this correctly, the gray bars show periods when:
1. real private sector spending hit a new high and the government ran a surplus
2. real private sector spending fell below a previous high and the government ran a deficit
Keynesian governments will generally behave in that way.
The turquoise bars show non-Keynesian behavior:
1. real private sector spending hit a new high and the government ran a deficit
2. real private sector spending fell below a previous high and the government ran a surplus
πολύ ωραίο γράφημα - great job you did Mike with this graph!
http://www.angrybearblog.com/2011/02/critique-of-tyler-cowen-great.html
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