I’m speaking at a lunchtime seminar for the Economic Society of Australia NSW Branch on Thursday February 28th, in the Ground Floor East Seminar Room of the Reserve Bank of Australia in 65 Martin Place Sydney. The function will start with light refreshments at 12.15pm, with a 12.30pm start; it will finish between 1.15pm and 1.30pm.
My topic is “Explaining the Crisis Using Private Debt and Aggregate Demand” (see the abstract below). It’s free for members; if you’re not one, I expect that you would have to join the society to be able to attend. If you’d like to attend, send an email to ecosocnsw@ecosoc.org.au.
Abstract: In this paper I prove that the ex-post identity of aggregate demand and aggregate income is consistent with ex-ante demand exceeding income. I then show that the empirical strength of this approach as explanation not only for the global economic crisis but for the “Great Moderation” which preceded it, and discuss its implications for the impact of the budget surplus fetish on future economic growth.
