Professor Valerie Ramey takes us through the conundrum of why post-war unemployment did not surge in the USA. We then discuss the economic effects of fiscal policy and how the timing of spending (and spending announcements) matters to the measuring the outcome. We finish with a discussion on time use and consider whether leisure time has actually increased as is generally believed over the twentieth century, and review the link with how home production is measured.
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Professor Valerie Ramey takes us through the conundrum of why post-war unemployment did not surge in the USA. We then discuss the economic effects of fiscal policy and how the timing of spending (and spending announcements) matters to the measuring the outcome. We finish with a discussion on time use and consider whether leisure time has actually increased as is generally believed over the twentieth century, and review the link with how home production is measured.
Macroeconomic (In)stability in UK Economic History, 1700-2010
The Economic History Podcast
53 minutes
1 year ago
Macroeconomic (In)stability in UK Economic History, 1700-2010
In this episode, we meet Assist. Prof. Jason Lennard to discuss his work on measuring fluctuations in the UK economy. We cover the nature of the business cycle, how it is measured and how it has changed through time. We also consider the implications of rigid wages during economic downturns. We look at new evidence on the existence of "sticky wages" during the Great Depression in the UK, using disaggregated (instead of average) wage data. Finally, we chat about the effects of poli...
The Economic History Podcast
Professor Valerie Ramey takes us through the conundrum of why post-war unemployment did not surge in the USA. We then discuss the economic effects of fiscal policy and how the timing of spending (and spending announcements) matters to the measuring the outcome. We finish with a discussion on time use and consider whether leisure time has actually increased as is generally believed over the twentieth century, and review the link with how home production is measured.
