J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau for Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.
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J. Bradford DeLong
Commentaries by J. Bradford DeLong
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When Is Government Debt Risky?
BERKELEY – A government that does not tax sufficiently to cover its spending will eventually run into all manner of debt-generated trouble. …
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Let it Bleed?
BERKELEY – In the 12 years of the Great Depression – between the stock-market crash of 1929 and America’s mobilization for World War II – pr…
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American Conservatism’s Crisis of Ideas
BERKELEY – On the back left corner of my desk right now are three recent books: Arthur Brooks’ The Battle, Charles Murray’s Coming Apart, an…
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Grand Mal Economics
BERKELEY – Across the North Atlantic region, central bankers and governments seem, for the most part, helpless in restoring full employment …
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Over the Cliff We Go
BERKELEY – Unless something unexpected happens, the United States’ many legislated reductions in taxes over the past 12 years – all of which…
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America’s Political Recession
BERKELEY – The odds are now about 36% that the United States will be in a recession next year. The reason is entirely political: partisan po…
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Our Debt to Stalingrad
BERKELEY – We are not newly created, innocent, rational, and reasonable beings. We are not created fresh in an unmarked Eden under a new sun…
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Stage Three for the Euro Crisis?
BERKELEY – The first two components of the euro crisis – a banking crisis that resulted from excessive leverage in both the public and priva…
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Democracy in Tea Party America
BERKELEY – When the French politician and moral philosopher Alexis de Tocqueville published the first volume of his Democracy in America in …
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Hopeless Unemployment
BERKELEY – However bad you think the global economy is today in terms of the business cycle, that is only one lens through which to view the…
Blog posts by J. Bradford DeLong
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Risks of Debt: The Real Flaw in Reinhart-Rogoff?
A country that spends and spends and spends and does not tax sufficiently will eventually run into debt-generated trouble. Its nominal inter…
Recent comment received by J. Bradford DeLong
Recent comments by J. Bradford DeLong
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When Is Government Debt Risky?
Herndon did very good work. And I am kicking myself for not asking R&R for the details of their calculations two years ago, because my people and I were not able to replicate the details (although there is a negative correlation between growth and debt).
But the significant error isn't the data-processing one. It's taking seriously an artifact of their statistical procedure to say that there is a cliff at 90%... -
When Is Government Debt Risky?
When interest rates are high, money-printing is highly likely to be inflationary, no? When interest rates is high the opportunity cost of keeping money in your pocket is large, and so the incentive to spend it is high, no?
When Is Government Debt Risky?
Gary Foxwell: More useless economic dribble. what's happening in the US and world economies has most of the experts befuddled. Also the fact that most of the economist that get any press work for the major banks o…
When Is Government Debt Risky?
Dave Thomas: I wonder if the Spanish Hapsburgs knew how much government debt was bad before it went bankrupt? Mr. DeLong inferring that he or anyone else knows when government debt is risky through analysis wh…