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Created 2/21/1996
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Items of Special Interest...

Topical...

Yes, the stock market is overvalued, and it is likely to crash:

• Is the Stock Market Overvalued? from Slate, December 21, 1996.
• What Will the Stock Market Do?
  

My twentieth-century economic history book ms. (in progress):

• Slouching Towards Utopia. The first draft of my economic history of the twentieth century.
  

Mexico:

• My brother's, Sherman Robinson's, and my thoughts on The Mexican Peso Crisis; a shorter and edited version appeared in Foreign Affairs.

• Our op-ed on NAFTA and the Peso Crisis arguing that the 1995 peso crisis makes NAFTA more essential. From the Los Angeles Times, July 1996.
• Chris DeLong, Brad DeLong, and Sherman Robinson, "Resolving the Peso Crisis: Rescuing the Peso Was a Good Idea"
• Chris DeLong, Brad DeLong, and Sherman Robinson, "NAFTA and Jobs: Remember the "Giant Sucking Sound"?"
  

Virtuality:

• The Shock of the Virtual--how the University of California's virtual museumof paleontology is in a very "real" sense more real than the actual museum. A small piece of this was reprinted in Harpers under the title A Wired Child.
• Old Rules for the New Economy. The new economy is not so new after all.
  

Social policy:

• A Daniel Patrick Moynihan Speech on Welfare Reform
• A Welfare Reform Op-Ed (that David Levine and I wrote; an edited version appeared in the Los Angeles Times late in 1995).
  • There is a follow-up: Welfare Reform Is Expensive.
    

Yes, the deficit is still a problem, and yes, the Republicans did it to us...

• A Bentsen Op-Ed on the Deficit that I drafted. It appeared (edited) in the Wall Street Journal.
• Where the Deficit Came From: a brief backgrounder on how the conventional wisdom that the deficits of the 1980s were due to Reagan-administration mishandling of fiscal policy is true; and that the counterclaim that the deficits of the 1980s arose because of budget-busting Congressional spending initiatives is not correct.
• The Budget Deficit; a December 1997 weekly letter for the Federal Reserve Bank of San Francisco.
• J. Bradford DeLong and David Levine, "A Deficit of Clear Thinking", Cal Monthly (August 1996).
  

The economics profession:

• In Praise of Economists
  • A page on M.I.T. international economist Paul Krugman from Newsweek.
  • A page on the Berkeley Economics Department from The Wall Street Journal.
  • A page on Harvard economic historian Claudia Goldin from The Wall Street Journal.
  • A page on John Maynard Keynes
    • Alec Cairncross on Keynes, from the Economist

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My best works:

Financial markets as they really are (not as they would be in a perfect world):

• "Noise Trader Risk in Financial Markets" (J. Bradford DeLong, Andrei Shleifer, Lawrence H. Summers, and Robert J. Waldmann, Journal of Political Economy 98: 4 (August 1990), pp. 703-738)
• "The Size and Incidence of Losses from Noise Trading," (J. Bradford DeLong, Andrei Shleifer, Lawrence H. Summers, and Robert J. Waldmann, Journal of Finance 44: 3 (July 1989), pp. 681-696. (NBER reprint no. 1330, December 1989))
• "Did J. P. Morgan's Men Add Value?: An Economist's Perspective on Financial Capitalism" (J. Bradford DeLong, in Peter Temin, ed., Inside the Business Enterprise: Historical Perspectives on the Use of Information (Chicago, IL: University of Chicago Press for NBER, 1991), pp. 205-36)
• "Closed End Fund Discounts: A Yardstick of Small-Investor Sentiment," (J. Bradford DeLong and Andrei Shleifer, Journal of Portfolio Management 18:2 (Winter 1992), pp. 46-53)
• Is the Stock Market Overvalued? (from Slate, December 21, 1996)
  

Political economy:

• "Low Marx: Eric Hobsbawm's Age of Extremes" (J. Bradford DeLong, Berkeley, CA, 1995).
• "America's Peacetime Inflation: The 1970s" (J. Bradford DeLong, in Christina Romer and David Romer. eds., Reducing Inflation: Motivation and Strategy (Chicago: University of Chicago Press, 1997))
• "Keynesianism, Pennsylvania-Avenue Style: Some Economic Consequences of the 1946 Employment Act" (J. Bradford DeLong, Journal of Economic Perspectives (Summer 1996))
• "Princes and Merchants: City Growth Before the Industrial Revolution" (J. Bradford DeLong and Andrei Shleifer, Journal of Law and Economics 36 (October 1993), pp. 671-702)
• "In Defense of Henry Simons' Credentials as a Classical Liberal" (J. Bradford DeLong, Cato Journal 9: 1 (Winter 1990), pp. 105-122)
  

American culture:

• "First Lessons from Kindergarten" (J. Bradford DeLong and Ann Marie Marciarille; Berkeley, CA, 1995).
• The Shock of the Virtual
  

Economic growth:

• "Equipment Investment and Economic Growth" (J. Bradford DeLong and Lawrence H. Summers,Quarterly Journal of Economics 106: 2 (May 1991), pp. 445-502)
• "Productivity Growth, Convergence, and Welfare: Comment" (J. Bradford DeLong, American Economic Review 78: 5 (December 1988), pp. 1138-1154)
  

Methodology:

• "Are All Economic Hypotheses False?" (J. Bradford DeLong and Kevin Lang, Journal of Political Economy 100:6 (December 1992), pp. 1257-72)
  

Macroeconomics:

• "Is Increased Price Flexibility Stabilizing?" (J. Bradford DeLong and Lawrence H. Summers, American Economic Review 76: 5 (December 1986), pp. 1031-1044)
• The Mexican Peso Crisis
• A Bentsen Op-Ed on the Deficit that I drafted
• Where the Deficit Came From
• The 1997 Budget Deficit

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Created 2/21/1996
Go to Brad DeLong's Home Page