Re: Bush busts Social Security with massive deficits

From: Igor (jjweatherby_at_houston.rr.com)
Date: 10/04/04 

Date: Mon, 04 Oct 2004 17:08:55 GMT

William F Hummel wrote:

> On Sun, 03 Oct 2004 19:00:51 GMT, Igor <jjweatherby@houston.rr.com>
> wrote:
>
>
>>Look at Robert Barro's work to see what the effects of budgets are in
>>the long run. Barro has a model of growth that shows deficits do not
>>matter. Sala-i-Martin has also tested this empirically. Deficits have
>>little to no effect on long run growth. Let me explain again that growth
>>means per capita GDP growth which is what matters.
>
>
> Barro is an embarrassment to the economics profession.

Really? He is an accomplished author with many publications. The Barro
coefficient is still used in support of Human capital models. I would
wager you know nothing about his work on growth and fertility, the
Barro-Lee data set, or his work in human capital models. You have him
pegged as idelogue simply because his textbook supports rational
expectations and real business cycle models. You probably only know
about his macro textbook which makes little to no mention of Keynes.

Relevant Pages
Quantcast