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Wealth Effect

Home Prices: Why They're Less Important Than You Think

WSJ | Guest Contributor | Posted 07.23.2009 | Business

Read More: Real Estate Market, Consumer Spending, Home Prices, Real Esate Prices, Wealth Effect, Home Values, Business News

Much commentary in the financial press over the last several months has been concerned with the impact of falling house prices on consumer spending. W...

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The Urgent Case for a Big Stimulus

Jeff Madrick | Posted 11.28.2008 | Business

Read More: Monetary Policy, Federal Reserve, John Maynard Keynes, Milton Friedman, Stimulus, Wealth Effect, Fiscal Policy, Financial Crisis, Business News
Jeff Madrick

If we don't stimulate the economy, tax revenues will fall far faster and deficits rise, anyway. But they won't be the deficits of constructive investment. They will be the deficits caused by unnecessarily lost wealth.

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