4. The Painful Costs of Prolonged Recessions: Evidence and Theory

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Introduction 1
4. Part I. Law, Fiscal Policy, and Monetary Policy
5. 1. Macroeconomics outside of a Liquidity Trap 25
6. 2. Law and Fiscal Policy When Interest Rates Are Well above Zero 31
7. 3. Law and Monetary Policy When Interest Rates Are Well above Zero 54
8. 4. The Painful Costs of Prolonged Recessions: Evidence and Theory 69
9. 5. Law, Monetary Policy, and Fiscal Policy in a Liquidity Trap 81
10. 6. Institutional Reform of Fiscal Policy 102
11. 7. Expansionary Fiscal Policy by Administrative Agencies 114
12. Part II. The Pros and Cons of Expansionary Legal Policy
13. 8. Expansionary Legal Policy: The Case of the Keystone Pipeline 129
14. 9. The Costs of Expansionary Legal Policy 139
15. 10. Law and Macroeconomics: Lessons from History 163
16. 11. Expansionary Legal Policy Options 175
17. Conclusion: Five Lessons of Law and Macroeconomics 198
18. Appendix 205
19. Notes 217
20. Acknowledgments 253
21. Index 255