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Items of Special Interest...
Yes, the stock market is overvalued, and it is likely to crash:
My twentieth-century economic history book ms. (in progress):
- My brother's, Sherman Robinson's, and my thoughts on The
Mexican Peso Crisis; a shorter and edited version appeared in Foreign
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
- 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:
My best works:
Financial markets as they really are (not as they would be in a perfect
- "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)
- "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))
Pennsylvania-Avenue Style: Some Economic Consequences of the 1946 Employment
Act" (J. Bradford DeLong, Journal of Economic Perspectives
- "Princes and Merchants: City
Growth Before the Industrial Revolution" (J. Bradford DeLong
and Andrei Shleifer, Journal of Law and Economics 36 (October 1993),
- "In Defense of Henry Simons'
Credentials as a Classical Liberal" (J. Bradford DeLong, Cato
Journal 9: 1 (Winter 1990), pp. 105-122)
Go to Brad DeLong's Home
Professor of Economics J. Bradford
DeLong, 601 Evans, #3880
University of California at Berkeley; Berkeley, CA 94720-3880
(510) 643-4027 phone (510) 642-6615 fax