On 5/9/2011 8:26 PM, Steve Kates wrote:
> The problem with the question asked - "Under what
> conditions are Keynesian approaches relevant and good
> policy?" -  is that the answer is becoming more evident
> every day. There are no conditions when Keynesian
> approaches are relevant and good for policy.


There is indeed a problem with this question, but it is
quite a different problem.  The problem is that it is
a question that begs for at least two separate discussions:
one of the meaning of the phrase "Keynesian approaches", and
one of the empirical evidence.  Furthermore, one suspects
that the second question was foremost in the asker's mind,
but then unfortunately for the asker, the question has been
posed on a list where macroeconometricians have little
representation.  At which point it might be reasonable to
offer as a response, why not ask someone who knows what the
views of the macroeconometricians are?  Say, Doug Elmendorf?
http://www.cbo.gov/ftpdocs/106xx/doc10682/Frontmatter.2.2.shtml

Cheers,
Alan Isaac