The No-Stimulus Baseline

David Leonhardt writes:

The Impact of Another Kind of Stimulus: On Wednesday, Alan Blinder, the Princeton economist and former Federal Reserve vice chairman, and Mark Zandi, chief economist of Moody’s Analytics, will release a new analysis of the federal government’s response to the Great Recession. As far as I know, it’s the first serious attempt at analyzing the effect both of the stimulus programs passed by Congress and of the various financial-market policies put in place by the Fed...