Leaders
Mark Thoma: Economist View
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Links (10/11/18)
The Paranoid Style in G.O.P. Politics - Paul Krugman How we create and destroy growth: The 2018 Nobel laureates - VoxEU People vs. Money in America’s Midterm Elections - Joseph E. Stiglitz Driving across the US gave me a different perspective on the economy - Larry Summers Development and Security - Brad DeLong The Dollar and its Discontents - Barry Eichengreen Fed Is Intent on Raising Rates Even If Economy Sours - Tim Duy What Happens...
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Links (10/8/18)
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Links (10/5/18)
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links (10/3/18)
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links (10/2/18)
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Links (9/30/18)
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Links (9/26/18)
Paul Krugman
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Goodbye, Political Spin, Hello Blatant Lies
[unable to retrieve full-text content]Black is white, up is down, and Republicans are defenders of Medicare.
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The Paranoid Style in G.O.P. Politics
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Trump and the Aristocracy of Fraud
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The Angry White Male Caucus
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The Economic Future Isn’t What It Used to Be (Wonkish)
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Republicans Take the Hypocrite’s Oath
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Leadership, Laughter and Tariffs
S. Sumner: Money Illusion
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What is the MMT theory of inflation?
Patrick Horan and I have a new piece over at The Bridge, which criticizes the increasingly popular “Modern Monetary Theory” of inflation: Market monetarists argue that nominal GDP (total dollar spending on all goods and services in the economy) is the best way to determine whether monetary policy is too tight (leading to a recession) or too loose (leading to high inflation). During the recovery from the Great Recession, nominal GDP growth has...
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Nothing like the 1960s?
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Today’s stock market decline
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File under “All knowledge is provisional”
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China should raise the price of Big Macs
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Recent articles
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Where are these jobs coming from?
Noah Smith
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Yuppie Fishtanks: YIMBYism explained without “supply and demand”
YIMBYism is the idea that cities need to build more housing in order to relieve upward pressure on rents. In Northern California, where I live, YIMBYs tend to get into fights with progressives about market-rate housing. YIMBYs don't want to build only market-rate housing, but they think market-rate housing has to be an important component.NorCal progressives, in contrast, tend to think that market-rate housing is bad - either they think it...
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Noah Smith’s Japan Travel Guide
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Book Review – “The Space Between Us”
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DeLong vs. Krugman on globalization
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Sheepskin effects – signals without signaling
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The “cackling cartoon villain” defense of DSGE
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Defending Thaler from the guerrilla resistance
Project Syndicate
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The New Disappeared
From China to Saudi Arabia, today's authoritarian regimes are suddenly and covertly abducting people, including well-known figures and high-ranking officials, to be detained or worse. It's an old and effective tactic for silencing opponents, but those reviving its use may end up regretting their decision. NEW YORK – From the military juntas that ruled Argentina and Chile in the 1970s and 1980s to Joseph...
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Can Eurozone Reform Help Contain Trump?
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Trump’s North American Trade Charade
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Into the Brexit Labyrinth
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Winning the War on Tuberculosis
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People vs. Money in America’s Midterm Elections
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Funding Africa’s Education Revolution
Cyril Morong: Dangerous Economist
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Rock Star Drops Lawsuit
See Ozzy Osbourne Drops Lawsuit Against AEG by Jem Aswad of Variety. Excerpt: "The legal battle between Ozzy Osbourne and AEG officially ended Friday when the singer’s attorney agreed to drop a lawsuit against the live-entertainment giant stemming from its block-booking policy, which the company ended last week. The policy required artists playing the London’s O2 Arena to also perform at Staples Center in Los Angeles, both of which...
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Did higher prices keep the power grid going during the recent heat wave?
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How Odysseus Started The Industrial Revolution
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A number of women who put off having babies after the 2007-09 recession are forgoing them altogether; more educated women and student debt also contribute to decline in birth rates
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Another Semester Has Started
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Joseph Schumpeter And Me
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Grocery stores try to alter the tastes and preferences of men
Miles Corak: Economics for public policy
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Canada’s Poverty Reduction Strategy adopts the United Nations Sustainable Development Goal to end poverty
The targets to reduce income poverty in Canada’s Poverty Reduction Strategy take an important step toward the first UN Sustainable Development Goal addressed to ending poverty, but progress will fall short without all Canadian governments—not just the federal, but also provincial, and municipal governments—adopting coordinated policies to eliminate deep poverty. The first UN Sustainable Development Goal is to “End poverty in all its forms...
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Canada’s official poverty line: what is it? how could it be better?
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Ask yourself two questions while reading Canada’s Poverty Reduction Strategy
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Ever wonder where to find the Trump Tower? Then take this “Trump Walking Tour” with me, and learn even more
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Thinking about minimum wages, and thinking about them like an economist
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The Caledon Institute of Social Policy is Canadian social policy
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The Canada Child Benefit is an important innovation in cash benefits to families with children
Dani Rodrik’s weblog
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Economists’ statement in support of Atif Mian
It is with dismay that I learned recently that Princeton's Atif Mian, one of the greatest scholars on finance and macroeconomics I know, was disinvited from Pakistan's Economic Advisory Council because of his religious beliefs. See here and here for more background. Timur Kuran and I have put together a statement, along with many friends who support Atif. The statement is below. We already have more than 90 signatories, including 26 economists...
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My preface to Santiago Levy’s Book: Under-Rewarded Efforts — The Elusive Quest for Prosperity in Mexico
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Site Maintenance
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More on distinguishing ideas and interests — an exchange with Peter Hall
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Has Global Finance Reformed Itself More Than It Appears?
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Telling interests and ideas apart
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My Twitter account has been hacked
Global Economic Intersection
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Red Hot China Mailbag
Posted on 14 October 2018 by John Mauldin, Thoughts from the Frontline An odd aspect of being a writer is you never know in advance what will excite readers. I've written letters I thought very provocative only to draw mostly yawns.Last week's trade deficit article lit some fireworks. The response was immediate and, in many cases, quite passionate in both directions. I got emails from old friends and longtime readers saying it was my best...
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Kaldor’s Theory Of Speculation: An Overview
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World Trade Growth Expected To Decline From 4.9% To 3.7%
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The Trade Deficit Isn’t The Boogeyman
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Housing Indicator Weakest Since 2009
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Clement Atlee: Full Employment Austerian?
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Millennials Have Less Assets Than The Prior Generation
Casey Mulligan: Supply and Demand
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Inflation has little to do with the Unemployment Rate
Copyright, TheHill.comThe April unemployment rate, released Friday, showed the headline unemployment rate below 4 percent, which has rarely happened in the past 48 years. But a low unemployment rate does not necessarily mean high inflation.A conventional wisdom, sometimes known as the Phillips curve, holds that low unemployment creates inflation as employers increasingly bid against each other for workers and pass on some of their labor costs...
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How Can I Get Introduced to Automated Reasoning for Economics and Statistics?
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Monopolies are unhealthy, but high taxes make the disease worse
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NYTimes Packs Five Ungrounded Economic Opinions in Two Sentences
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Corporate-income Tax Incidence with Imperfect Competition
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Robots: Leibniz’ dream is coming true in economics
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Honey, I Shrank the Economic Pie
Bradley A. Hansen’s Blog
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Henry Clay, Edward Baptist, and the Whipping Machine
Along with the term “pushing system” that Baptist invented and attributed to slaves and his fictional estimate of the economic impact of slave produced cotton, the “whipping machine” has been one of the most frequently cited stories from The Half Has Never Been Told. Foner, for instance, explained in his New York Times review “Each slave was assigned a daily picking quota, which increased steadily over time. Baptist, who feels that historians...
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That’s Just Econ 101 Part 2
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Productive and Unproductive Error
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That’s Just Econ 101
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How I Became a Business Historian (a bit of shameless self-promotion)
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Was Slavery Central to American Economic Development?
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Podcasts I Listen To
Managerial Econ
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Dawn raids uncover evidence of beer price fixing in India
Absent cooperation from one of the conspirators, collusion is difficult to prove because it requires evidence of an agreement between competitors. Most executives are counseled to imagine what would happen if their correspondence and e mails were made public. To gather evidence, the competition authorities create a "prisoners' dilemma", by offering leniency to any cartel member willing to provide evidence against his or her...
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Screening on criminal background and credit history
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A Rather Unique Economy of Scope
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Less of other peoples’ money is funding insurance
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Economies of scope created AWS
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Dollar strengthening against yuan
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Are we in a housing bubble?
Donald Marron
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Three Things You Should Know about the Buyback Furor
Record stock buybacks—driven in part by the corporate tax changes in the Tax Cuts and Jobs Act (TCJA)—have sparked a media and political furor. Unfortunately, they’ve also created a great deal of confusion. To help elevate the debate, here are three things you should know. 1. Repatriated overseas profits are the main way TCJA is boosting buybacks By slashing corporate taxes, TCJA will boost after-tax profits and cash flow. Companies will use...
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Talking Money, Inflation, Fiat, & Bitcoin
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How Should Tax Reform Treat Employee Stock and Options?
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Eight Thoughts on Business Tax Reform
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The 3-2-1 on Economic Growth: Hope for 3, Plan for 2, Pray it isn’t 1
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Outside Research Organizations Can’t Replace CBO’s Budget Team
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Can Trump Make Mexico Pay for the Wall?
David Flynn: Barter is Evil
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Sears and Irony
Perhaps the most amazing aspect of the seemingly imminent demise of Sears (story at the link below) is that this is the company that pioneered selling from a distance. The Sears Catalog was an iconic product making Sears a household name across the country in both rural and urban areas. That companies like Amazon seem to be beating Sears at the same game they pioneered, just in the new playing field of the Internet, is all the more...
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How not to negotiate
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The Fed and Normalization
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State Fiscal Rankings-ND #19
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Barter is Evil 1970-01-01 00:00:00
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USMCA and ND
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Migration in and out of North Dakota
Josh Hendrickson: Everyday Economist
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A Simple Lesson About Money and Models
Imagine you are in your high school algebra class and you are presented with the following two equations: Two linear equations with 2 unknowns. This is a simple problem to solve. Now suppose that your teacher gives you the following three equations: Note that this is still a simple problem to solve. The first two equations are identical to the previous example. You can use those first two equations to solve for x and y. Then, knowing x, you...
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Macro Musings
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Updates
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Monetary Policy as a Jobs Guarantee
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How Did the Gold Standard Work? Part 1: The Efficiency of the Gold Standard
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Towards an Alchian-type Approach to Political Economy
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The Sleight-of-Hand of Olson-esque Public Choice
Leisure of the Theory Class
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A New Business Idea
A New Business Idea June 16, 2018 in Auctions, market design, Pricing strategies, Uncategorized Apparently, it is quite the rage to festoon one’s slides with company logos, particularly of the frightful five. At present this is done for free. It suggests a new business. A platform that matches advertisers to faculty. Faculty can offer up their slides and advertisers can bid for the right to place their logos on the slides.
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Arms and Projects
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Weber’s proof of Gittins Index Theorem
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Samuelson on Linear Programming
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Entrepreneurship
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Miserly Millennium Prizes
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Medawar’s Test
Timothy Taylor: Conversable Economist
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Why is Labor Force Participation Falling for Prime-Age Males?
For economists, "prime-age" refers to the ages between 25-54, which is post-school and pre-retirement for most workers. Didem Tüzemen asks "Why Are Prime-Age Men Vanishing from the Labor Force?" in the Economic Review of the Federal Reserve Bank of Kansas City (First Quarter 2018, pp. 5-28). She begins: "The labor force participation rate for prime-age men (age 25 to 54) in the United States has declined dramatically...
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Primary Care: Expanding the Role of Nurse Practitioners
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How Best to Reintegrate Ex-Prisoners?
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Boglehead Wisdom
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Economics Nobel 2018: William Nordhaus and Paul Romer
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Nobel #2: Taking the Medal Through Fargo Airport Security
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Nobel #1: When Hayek Opposed the Nobel Prize in Economics
Econbrowser
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N. Dakota “orphan soybeans” at 236 million bushels
That’s from WaPo. In 2017, the US exported 1.2 billion bushels to China: North Dakota’s orphan soybeans today are nearly 1/5 of total sales to China in 2017… “Lots of guys will be scrambling,” said Joe Ericson, a grower who operates a 5,000-acre farm near Wimbledon. “It’s going to be a struggle. This year might not be as bad because a lot of guys have forward-contracted a lot of this year’s crop already. But if it goes into next year, it could...
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Guest Contribution: “The New NAFTA”
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Trump: “I think the Fed has gone crazy”
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I’m Already Tired of Winning: MidWest Ag Trade Edition
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More on the International Travel “Trump Slump”
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Guest Contribution: “Bill Nordhaus & Paul Romer, Nobel Prize winners”
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The Tourist “Trump Slump”
Tim Harford: Undercover Economist
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How to burst your political filter bubble
How to burst your political filter bubble There are certain resolutions that are easily made and easily broken: lose weight; drink less; be mindful. They all seem a cinch compared with the challenge of our age: think less tribally. Try meeting people who disagree with you. Try to understand both sides of the argument. Most of us instinctively feel that this is desirable. Each of us has something to learn from others. And even if we do...
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Why big companies squander brilliant ideas
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Counting the costs of Brexit uncertainty
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Review of The Cost-Benefit Revolution by Cass Sunstein
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Did your holiday make you more creative?
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Is Twitter more unequal than life, sex or happiness?
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Why big companies squander good ideas – a reading list
Owen Zidar
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Who were the top taxpayers in 1923?
From page 71 of Daniel Marcin’s “The Revenue Act of 1924: Publicity, Tax Cuts, Response” div{float:left;margin-right:10px;} div.wpmrec2x div.u > div:nth-child(3n){margin-right:0px;} ]]> Advertisements
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Trump won in counties that lost jobs to China and Mexico
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The Effect of Pension Income on Elderly Earnings: Evidence from Social Security and Full Population Data
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Why Retire When You Can Work? Hours are way up for elderly workers
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Zip-code Economics
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Financial firms make large share of pass-through income
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Pass-through income and the top 1%
Microeconomic Insights
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Growth and well-being: policy should not be based on GDP alone
Economists are often accused of focusing excessively on GDP, with the result that government policies make GDP a priority to the detriment of other contributors to well-being. This research proposes a broader summary statistic that incorporates consumption, leisure, mortality and inequality. While the new statistic is highly correlated with GDP per capita, cross-national deviations are often large: Western Europe looks considerably closer to...
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Regional variation in US healthcare use: evidence from patient migration
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The economics of density: evidence from the Berlin Wall
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US Manufacturing Jobs and Trade Liberalization with China
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The career cost of children: career and fertility trade-offs
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Cultural proximity and loans
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Do larger health insurance subsidies benefit patients or producers? Evidence from Medicare Advantage
Carola Binder: Quantitative Ease
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Inflation Expectations and the Price at the Pump
My paper "Inflation Expectations and the Price at the Pump" is now published in the Journal of Macroeconomics. Here is an open-access link to the official version (through October 20, 2018). And here is my new website which has links to the ungated versions of this and my other papers.The key takeaway of this paper is that, though gas prices and average household inflation expectations are correlated, consumers do not seem to...
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“Macroeconomic Research, Present and Past”
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From Senior Thesis to Publication
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Snapshot of the Publication and Review Process as an Assistant Professor
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Mortgage-Backed Securities Ratings and Losses Maybe Not So Bad
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D is for Devastating: A Statistical Error and the Vitamin D Saga
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To Eradicate or to Manage?
Economonitor
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Current Account Deficits and Safe Assets
The International Monetary Fund has issued its External Sector Report for 2017, and among its key findings: “Global current account imbalances were broadly unchanged in 2016…” The U,S. continues to record the largest deficit, $451.7 billion, which is equal in value to 2.4% of U.S. GDP. The continuing deficits contribute to the increase in the ...
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Why Lebanon’s New Government Needs a New Economic Model
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A New Banking Crisis?
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John Maynard Keynes and Effective Macroeconomic Policy
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Can Uganda Step Up to New Economic Challenges?
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New Pragmatism: Economics and Economic Policy for the Future
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Transformative Changes in World Energy Production and Trade
Offsetting Behaviour
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A pretty lame OIA response
Back in September, the Ministry of Health's Chief Science Adviser produced some rather shoddy advice on the effects of sugar taxes. Asked by the Prime Minister to provide advice on the effects of sugar taxes, Dr John Potter provided two pages of unreferenced bullet points, none of which mentioned the comprehensive literature review commissioned by the Ministry and released by the Ministry only a few days before Potter's list of bullet...
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Scholarships for the wealthy
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Doing less good than we could – carbon edition
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Roger’s tasty sheep
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Five dollar prize
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Mayors for localism
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Stupid Avatar
T. Cowen: Marginal Revolution
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Saturday assorted links
1. A Progressive rebelling against the Supreme Court. And another such piece. 2. Man run over by lawn mower while trying to kill his son with a chain saw. 3. Interview with Javier Marías. 4. Racial bias in bail decisions. 5. The dispute over Germany’s Humboldt Forum (NYT). 6. “BASE plans to hire an actress to mimic Amy Winehouse’s stage movements and “will complete the image with prosthetics and computer-generated imagery…”” 7. Robots to talk...
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The Effect of Communism on People’s Attitudes Toward Immigration
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*The Revolt of The Public and the Crisis of Authority in the New Millennium*
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Sentences to ponder
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Friday assorted links
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We Cannot Avoid the Ugly Tradeoffs of Bail Reform
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Unintended Consequences of Information Bans
Jared Bernstein: On the economy
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Unemployment hits a 49 year low as jobs/wages stay on solid, hot-but-not-too-hot, trend.
The nation’s payrolls grew by 134,000 jobs last month and the unemployment rate fell to a 49-year low of 3.7 percent. While the jobs number came in well below expectations, that should not be considered bad news. First, Hurricane Florence may have slightly dampened monthly payrolls (see below discussion of the impact of hurricanes on the jobs data). But more importantly, upward revisions for the prior two months’ data reveal a trend over the...
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The USMCA is not a free trade deal. That’s because there are no free trade deals.
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Min wg panel model
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Nerd Alert. This is not a test. New BLS data on employer costs by percentiles!
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Some greatest hits of the 10-year lookback pieces on the crisis.
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New Census data show that low-income people are responding as they always do to tight labor markets…by working!
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Poverty and middle-class income data out tomorrow morning
Simon Wren-Lewis
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Implications of German export success
I have finally got around to reading this excellent CEPR ebookon Germany’s exceptional recovery. That German GDP growth since the Global Financial Crisis (GFC) is higher than average Eurozone growth or French growth can be seen below. GDP growth (source OECD Economic Outlook)However the relative performance in terms of unemployment is remarkable. Unemployment (national definitions, source OECD Economic Outlook)The tremendous success in...
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Talk on where macroeconomics went wrong
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How the left stopped being a party of the working class
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How the media helped turn the worst recovery in 100 years into a strong economy in stable hands before the 2015 election
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The post-Brexit vote trade boost that never was
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Would a Corbyn Brexit heal the nation or wound Labour?
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The Next Referendum Question
Free Exchange Economist
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Is there a wage growth puzzle in America?
TODAY’S labour market report showed that the American economy created 156,000 net new jobs in August. That was a bit less than expected, but payrolls are still growing comfortably faster than the working-age population. Despite having created over 2m jobs in the last year, pushing unemployment below 4.5% for the last five months, wage growth remains muted, at around 2.5%, compared to more like 3.5% the last time unemployment was comparably...
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The Nobel in economics rewards a pioneer of “nudges”
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Podcast: Goodbye, Benito
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Republicans grouse about tax models they once supported
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Podcast: The Italian bailout job
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Podcast: A poison chalice for GE’s new boss
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A new paper rekindles a tiresome debate on immigration and wages
Worthwhile Canadian Initiative
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Why do we care about the labour share of income?
And by 'we', I mean 'Canadians'. A lot has been said and written about the decline in the labour share of income, usually calculated as total employee compensation divided by nominal GDP. This decline is generally regarded as a negative development: the reduction in the share of income going to workers is interpreted as a symptom of suppressed wage growth and of increased income inequality. I don't doubt that this is a useful narrative for...
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The 1 vs 3 Model of Quick Recessions vs Slow Recoveries
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The Blind Target Shooter
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A well-deserved tribute to Nick Rowe
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Learning outcomes: potential game-changer, or worthless bean-counting and cataloguing exercise?
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Is the Russia-America Global CoDominium About to Begin?
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Military Spending in the G7: A Quick Post NATO Summit Comparison
Miles Kimball
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Carl Zimmer: How Professional Incentives Have Led Scientists to Focus on a Relatively Small Number of Human Genes and Neglect Thousands of Others.
[unable to retrieve full-text content]Permalink
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The US Military Needs to Beef Up Its Artificial Intelligence and Cyberware Capabilities
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Timothy Lee: Tokyo May Have Found the Solution to Soaring Housing Costs
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Best Health Guide: 10 Surprising Changes When You Quit Sugar
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Noah Smith—The Replication Crisis in Economics: Even After Downloading the Same Data, Economists Don’t Get the Same Answer
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John Locke: Defense against the Black Hats is the Origin of the State
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Katherine Ellen Foley: Learning Humility from Krill and Blue Whales
FT Alphaville
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Thoughts for the weekend
There seems to have been a tech transfer between @katie_martin_fx and Chinese punters in stockmarket trend analysis. Here is the Crapping Dog Formation: pic.twitter.com/veJoiEVAj2— Simon Rabinovitch (@S_Rabinovitch) October 11, 2018Fintwit downfall: Finance twitter handles a drawdown poorly, flails about, loses moneyFor the extremely great bargain of 99¢, find out who else dared to pay 99¢....
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Markets Live: Friday, 12th October 2018
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If the Treasury names China a currency manipulator, it’s purely political
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Further Reading
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Sorry Civil, ‘crypto-economics’ and ‘constitutions’ won’t save journalism
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Pakistan’s IMF bailout adds to Belt and Road woes
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If it has to be said out loud… (Zion Oil edition)
Greg Mankiw
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Surprising Truths About Trade Deficits
Click here to read my column in Sunday's NY Times.
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Congratulations, Gita
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Economics Teaching Conference
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Now I love Mike Pompeo
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Job Opening
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Bill Gates’s Freshman Year
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What I have been reading
John Cochrane’s blog
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Supply-side health care
The discussion over health policy rages over who will pay -- private insurance, companies, "single payer," Obamacare, VA, Medicare, Medicaid, and so on -- as if once that's decided everything is all right -- as if once we figure out who is paying the check, the provision of health care is as straightforward a service ...
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Dollarize Argentina
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Fed Nixes Narrow Bank
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Cause, effect, and carbon
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The Tax-and-Spend Health-Care Solution
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Post-Apocalyptic Health Care
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Modigliani-Miller theorem repealed, reports PBS
Peterson Institute
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The Coming Brexit Clash
Prime Minister Theresa May delighted her Conservative Party followers by dancing her way onto the stage, with ABBA’s “Dancing Queen” in the background, at the recent party convention. In her address, she promised to honor the 2016 referendum on Britain’s exit (Brexit) from the European Union while seeking “a good trading and security relationship with our neighbors after we have left.” But it will be Europe that calls the tune for any dancing...
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Argentina’s Painful IMF Bailout: Will It Work?
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Tension Remains at the Heart of the Fed’s Forecast
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Surprised? US Multinationals Didn’t Repatriate a Gusher of Cash
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Trade, Inflation Targeting, and Central Bank Independence
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China, the United States, and Damage to the IMF
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Maduro’s Economic Plan for Venezuela: Back to the 1980s?
Ben Bernanke at Brookings
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The housing bubble, the credit crunch, and the Great Recession: A reply to Paul Krugman
By Ben S. Bernanke Why was the Great Recession so deep? Certainly, the collapse of the housing bubble was the key precipitating event; falling house prices depressed consumer wealth and spending while leading to sharp reductions in residential construction. However, as I argue in a new paper and blog post, the most damaging aspect of the unwinding bubble was that it ultimately touched off a broad-based financial panic, including runs on...
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Financial panic and credit disruptions in the 2007-09 crisis
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Temporary price-level targeting: An alternative framework for monetary policy
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When growth is not enough
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Some reflections on Japanese monetary policy
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The zero lower bound on interest rates: How should the Fed respond?
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How big a problem is the zero lower bound on interest rates?
David Andolfatto: Macro Mania
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What is the yield curve forecasting?
It's well-known that in the United States, recessions are often preceded by an inversion of the yield curve. Is there any economic rationale for why this should be the case? Most yield curve analysis makes reference to nominal interest rates. Economic theory, however, stresses the relevance of real (inflation-adjusted) interest rates. (The distinction does not matter much for the U.S in recent decades, as inflation has remained low and...
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The Trust Machine: The Story of Bitcoin
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Inflation and Unemployment (Part 2)
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Inflation and unemployment
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What anchors inflation?
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The recession of 2012-13 and the taper tantrum
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U.S. GDP Expenditure Components
Macro and Other Market Musings
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“Et tu, John Williams?”
Tim Duy reports that r-star, which rose to prominence over the past few years, is experiencing a Caesar-like betrayal at the Fed: The Federal Reserve’s “r-star” has gone full supernova. New York Federal Reserve President John Williams, its key proponent, made clear in a speech late Friday that the neutral interest rate is no longer a guiding star for monetary policy. This means a federal funds rate in the range of what is considered neutral...
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FOMC Preview: “We Have the Nerve to Invert the Curve”
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More Non-Star Metrics for Monetary Policy
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The Fed’s Floor System: Sayonara?
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Navigating by the Stars and Steadying the Ship Speed
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Closer to OCA Criteria: Eurozone or Dollarzone?
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Will Australia Be the First Country to Try NGDPLT?
John B. Taylor
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Econ 1, Tiger Woods, and the [email protected]
Today is the first day of the fall quarter at Stanford, and I begin teaching Economics 1, the introductory economics course, and the course after which this blog is named. The first day is always exciting, especially with many first-year students in class as is the case with Economics 1. With Tiger Woods just winning the Tour Championship, I have a wonderful example today of opportunity costs. Tiger took my course in 1996. He was the best...
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Stiglitz, Summers, Secular Stagnation, and the Supply Side
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17 Years of Economic and Security Challenges
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A Boot Camp with a Good Policy Workout
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Turkey Tantrum Contagion Not Automatic, Rather Policy Dependent
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Rules and Strategies in the Fed’s New Monetary Policy Report
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Still Exploding After All These Years
Roger Farmer’s Economic Window
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Conference at the Bank of England
Last year I co-organize d a highly successful conference at the Bank of England on Economics and Psychology. You can find links to videos from most of the conference presenters here. This year I am co-organizing a second conference with the title, "Economics and Psychology: New Ways of Thinking about economic policy". The conference will ...
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Lend Me Your Ears: Friedman and The Role of Financial Policy
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Taming the Lion
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Bulls and Bears: Why central banks should stabilize the stock market
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Animal Spirits, IS-LM-NAC and Keynesian Economics without the Phillips Curve
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Moving the Overton Window: Let the Debate Continue
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Standing on the Shoulders of Giants
Jeffrey Frankel’s Blog
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After NAFTA
Oct. 12, 2018 — Donald Trump thinks he once again pulled off a smashing victory on October 1, delivering on his oft-repeated campaign promise to terminate NAFTA, “the worst trade deal ever,“ and replace it with something much newer and better. One is tempted to say to oneself, “Let him think that.” The US-Mexico-Canada Agreement may not be an improvement over the status quo, but at least it is an improvement over the end to free trade in...
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Bill Nordhaus & Paul Romer, Nobel Prize winners
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Fall in US Trade Balance Led by Ag. Exports
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Trump Renews Charges of Chinese Currency Manipulation
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Reply to an MMT critique of my column on pro-cyclical policy
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The Next Recession Could Be a Bad One
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Rising US Real Interest Rates Imply Falling Commodity Prices
Brad Delong, Berkeley
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Development and Security
Not what I said at the Blum Center Development Lunch today: more what I wish I had said—albeit it is still incoherent and disorganized: Let me begin with three direct responses to points Michael Nacht made. Let me then try to—briefly—propose a framework, perhaps a framework for analysis, perhaps merely a framework for convincing people in the national security community that they should take issues of economic development seriously, and so...
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Grasping Reality with at Least Three Hands 2018-10-10 18:14:44
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The Nobel-Like Prize in Economic Science, 2018
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Blum Hall B100: Plaza Level: 2 PM: Bill Janeway: The Digital Revolution and the State: The Great Reversal
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Grasping Reality with at Least Three Hands 2018-10-06 17:19:38
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Prisoner’s Dilemma, or Prisoners’ Dilemma?: Hoisted from the Archives
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The Appalachian and Other Trails
Telegraph Blog
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Opinion
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Why David Cameron will struggle to out-Ukip Ukip on EU migration
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David Cameron promises to withdraw Britain from the European Union (yes – I mean it)
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Germany’s Eurosceptic AfD spells end to Europe’s false calm, warns S&P
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The truth about smoking – it saves the public purse a lot of money
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The Unionist way forward
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Scottish referendum: Out of the frying pan into the fire
