Skip to content
EntityQ2711499· pop 13· linked from 169 articles

Alan Blinder

Sign in to save

Also known as Alan S. Blinder, Alan Stuart Blinder

American economist

Person · Open Library

Born
1945-10-14
Works
73

Top works

  • A Monetary and Fiscal History of the United States, 1961–2021
  • Macroeconomics
  • Economics of Public Finance
  • Asking about Prices
  • Economics

via Open Library + Wikidata

Music · MusicBrainz

Type
Group
Origin
United States
new jerseypunkusa

Discography

via MusicBrainz · CC0

Listeners · Last.fm

Listeners
1
Total plays
1

<a href="https://www.last.fm/music/Alan+Blinder">Read more on Last.fm</a>

via Last.fm · Alan Blinder

Quotes

  • Keynesian economics is the economics of nominal rigidities basically, nominal rigidities everywhere. Fully anticipated money does affect output. Everybody can see that! So, it's right. The fact that it's not as theoretically tidy as Lucas's 1972 Journal of Economic Theory paper is not a reason to throw it away. That's become a minority view in this profession, unfortunately. It wouldn't have been in the '60s.
  • Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least and disagree most vehemently.
  • The word ‘Keynesian’ means many things to many people. Decades ago, it was a carelessly applied label for economic liberals and interventionists in general. For a while in the late 1970s and early 1980s it became a pejorative term more or less synonymous with old-fashioned.
  • First and foremost, Keynesian economics is a theory of aggregate demand and of the effects of aggregate demand on real output and inflation.
  • Monetary policy decisions tend to regress toward the mean and to be inertial—and hence biased in just the same way that adaptive expectations are biased relative to rational expectations. But errors like that, while systematic, will generally be small and will tend to shrink over time. And, in return, the system builds in natural safeguards against truly horrendous mistakes.
  • In central banking circles, it is viewed as obvious that the accumulation and destruction of reputational capital more closely resembles adaptive than rational expectations — it lags behind reality. Here, I think, the central bankers are closer to the truth than the economic theorists.

via Wikiquote · CC BY-SA

Wikidata facts

Image
Alan S. Blinder, Vice Chairman Federal Reserve.jpg
Show 2 more facts
date of birth
1945-10-14
affiliation string
Princeton University
Sources (5)

via Wikidata · CC0

Connections

Categories