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Author: Rich Billiard

Great What? Our Need to Understand the Great Inflation of the 1970s

     As the graph below shows, the 1970s stand out as a period in which the U.S. had poor price level stability despite having a central bank, an advanced industrial economy, and educated policymakers. Therefore, understanding why this period

Rich Billiard April 29, 2017April 28, 2017 Uncategorized Read more

The Great Recession: Why Keynes Was Right About Government’s Role in the Economy

     Perhaps John Maynard Keynes’ most lasting, important, and influential contribution to economic thought was his rejection of the assertion by classical economists  that the economy was always self-regulating and that capitalism was characterized by an inherent stability that

Rich Billiard April 6, 2017April 4, 2017 Uncategorized Read more

To Debt or Not to Debt? The Case for Why the U.S. Shouldn’t Necessarily Reduce or Eliminate its National Debt

     Since the recent global recession, concerns have increasingly risen about the amount of outstanding U.S. national debt. Congress has been consumed by conflict over this issue, leading to government shutdown and contributing to partisan divide and political gridlock.

Rich Billiard March 23, 2017March 21, 2017 Uncategorized Read more

Explaining U.S. Inflation Since 2008

Why Has the U.S. Not Seen Rising Inflation Resulting from Increases in the Money Supply in the Post-2008 World?      In order to counteract the contractionary pressures stemming from the events in 2007-2008, the Federal Reserve conducted expansionary monetary policy

Rich Billiard March 2, 2017February 28, 2017 Uncategorized Read more

Aggregate Food Engel Curve

Engel Curve Assignment For this assignment I was interested in how aggregate food expenditures fluctuated with aggregate disposable income. I obtained annual aggregate food expenditure information, in 1988 dollars, dating from 1953-2014 from the website of the United States Department

Rich Billiard February 16, 2017February 15, 2017 Uncategorized Read more

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