{"id":347406,"date":"2025-08-27T18:29:24","date_gmt":"2025-08-27T23:29:24","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/08\/27\/re-arranging-the-syllabus-again-barro-gordon-moved-up\/"},"modified":"2025-08-27T18:29:24","modified_gmt":"2025-08-27T23:29:24","slug":"re-arranging-the-syllabus-again-barro-gordon-moved-up","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/08\/27\/re-arranging-the-syllabus-again-barro-gordon-moved-up\/","title":{"rendered":"Re-Arranging the Syllabus (Again): Barro-Gordon Moved Up"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-57792\">&#13;<br \/>\n\t\t\t\t<!-- .entry-header -->&#13;<br \/>\n&#13;<\/p>\n<div class=\"entry-content\">\n<p>For the first time in four years, I get to teach a course on the Financial System, which is like a financially focused macro course. But lo and behold, Trump\u2019s actions make me re-focus the course\u2026<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/syllabus_extract.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-57793\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/syllabus_extract.png\" alt=\"\" width=\"1050\" height=\"1200\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/syllabus_extract.png 1050w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/syllabus_extract-263x300.png 263w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/syllabus_extract-896x1024.png 896w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/syllabus_extract-768x878.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/syllabus_extract-624x713.png 624w\" sizes=\"(max-width: 1050px) 100vw, 1050px\"\/><\/a><\/p>\n<p>So, I\u2019m adding \u201ctime inconsistency\u201d (<a href=\"https:\/\/www.journals.uchicago.edu\/doi\/abs\/10.1086\/260580\">Kydland and Prescott, <em>JPE<\/em>, 1977<\/a>) and <a href=\"https:\/\/www.journals.uchicago.edu\/doi\/abs\/10.1086\/261167\">Barro-Gordon (JPE, 1983)<\/a> to the syllabus.<\/p>\n<p>My slides from last semester on lessons from the issue, <a href=\"https:\/\/www.ssc.wisc.edu\/~mchinn\/e442_lecture26_s25.pdf\">here<\/a>. Concluding graph:<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/barrogordonequilibrium.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-57794\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/barrogordonequilibrium.png\" alt=\"\" width=\"881\" height=\"584\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/barrogordonequilibrium.png 881w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/barrogordonequilibrium-300x199.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/barrogordonequilibrium-768x509.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/barrogordonequilibrium-624x414.png 624w\" sizes=\"(max-width: 881px) 100vw, 881px\"\/><\/a><\/p>\n<p>Trump is taking us from near point A to point B, <em>really, really, really fa<\/em>st (lower output for given level of inflation).<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><!-- .entry-content -->&#13;<br \/>\n\t\t&#13;<\/p>\n<footer class=\"entry-meta\">&#13;<br \/>\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2025\/08\/re-arranging-the-syllabus-again\" title=\"3:56 pm\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2025-08-27T15:56:24-07:00\">August 27, 2025<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->&#13;\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2025\/08\/re-arranging-the-syllabus-again\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] &#13; &#13; &#13; For the first time in four years, I get to teach a course on the Financial System, which is like a<\/p>\n","protected":false},"author":1,"featured_media":347407,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/347406"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=347406"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/347406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/347407"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=347406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=347406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=347406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}