Leaders
Mark Thoma: Economist View
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Links (3/21/19)
Calling time on 'statistical significance' in science research - EurekAlert Work of the past, work of the future - VoxEU Holy Voodoo, Batman! - Paul Krugman Raising the Curtain: Trade and Empire - Brad DeLong Six Migrants and Their Descendants Who Made History - Brad DeLong The Disjunction Between Production and Distribution - Brad DeLong Monetary policy in times of uncertainty - VoxEU When the dismal science is getting you...
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Links (3/18/19)
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Links (3/15/19)
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Links (3/12/19)
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Links (3/8/19)
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Links (3/4/19)
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Links (2/25/19)
Paul Krugman
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Don’t Make Health Care a Purity Test
We’re now in the silly season of the Democratic primary — a season that, I worry, may last all the way to the nomination. There are many honorable exceptions, but an awful lot of reporting seems to be third order — not about the candidates, let alone their policy proposals, but about pundits’ views about voters’ views of candidates’ electability. It’s a discussion in which essentially nobody has any idea what he or she is talking...
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Holy Voodoo, Batman!
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Mourning the Loss of Alan Krueger
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Getting Real About Rural America
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Don’t Blame Robots for Low Wages
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The Power of Petty Personal Rage
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Tariff Man Has Become Deficit Man
S. Sumner: Money Illusion
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There’s only one reliable rule of thumb in macro
This is a follow-up to the previous post. There is an endless search for rules of thumb in macro. In the 1940s, very low interest rates were the new norm. In the 1950s, rates began rising and frequent mild recessions were the new norm. In the 1960s, one long “Phillips Curve” expansion was the new norm. We had it all figured out. In the 1970s, the Phillips Curve fell apart, and we just had to live with stagflation. In the...
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The yield curve inverted
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MMT “explained”
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Whatever floats your boat
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What role do we want the monetary base to serve?
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The Fed’s targeting the wrong forecast
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Why modern leftism and modern conservatism are both evil
Noah Smith
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A proposal for an Alternative Green New Deal
Usually, Bloomberg Opinion understandably does not want me to repost my Bloomberg articles at this blog. But they made an exception for my Alternative Green New Deal plan. So here it is.*** The planet is in grave danger from climate change. No reasonable person can doubt this fact. Drastic and immediate action is needed to reduce global carbon emissions. But that doesn’t mean that any sort of drastic action is a good one. The Green New...
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Book Review: The Revolt of the Public, by Martin Gurri
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Book Review: “The Souls of Yellow Folk,” by Wesley Yang
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Book Review: “Stubborn Attachments”, by Tyler Cowen
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Yuppie Fishtanks: YIMBYism explained without “supply and demand”
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Noah Smith’s Japan Travel Guide
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Book Review – “The Space Between Us”
Project Syndicate
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What’s Next for Kazakhstan?
The resignation of Nursultan Nazarbayev, the only president that independent Kazakhstan has ever had, marks a critical juncture for the country. Nazarbayev came to power at a time of profound and unexpected change, and his semi-departure could have equally unpredictable consequences. ASTANA – On March 19, the only president that independent Kazakhstan has ever known, Nursultan Nazarbayev, announced his...
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Let’s Talk About Geoengineering
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Xi and Trump Miss Their Chance
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Toward a New Global Charter
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Italy’s BRI Blunder
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Back to the Nuclear Precipice
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The Blind Spot in the Trade Debate
Cyril Morong: Dangerous Economist
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Is There Economic And Political Meaning In “The Wizard of Oz?”
To get a handle on this, you can read Money and Politics in the Land of Oz By Quentin P. Taylor. Below is an excerpt from the Taylor paper: "Dorothy, the protagonist of the story, represents an individualized ideal of the American people. She is each of us at our best-kind but self-respecting, guileless but levelheaded, wholesome but plucky. She is akin to Everyman, or, in modern parlance, “the girl next door.” Dorothy lives in...
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The World Is Getting Quietly, Relentlessly Better
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Some History of Insurance
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TV chefs showcase recipes using mutton, prices jump
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A Special Valentine’s Message On Romantic Love
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Toxic Smoke Is Africa’s Quiet Killer. An Entrepreneur Says His Fix Can Make a Fortune
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There’s no such thing as free cheesecake
Miles Corak: Economics for public policy
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Rest in peace Alan Krueger
Alan Krueger did everything an economist should aspire to achieve: strong research grounded in a solid understanding of theory and statistical method; framed to uncover facts important to the way people lead their lives, to the challenges they face; and communicated to resonate among policy makers, compelling them to do better for their citizens. Writing in 1924, upon the death of his teacher and mentor Alfred Marshall, the great British...
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The changing nature of work calls for enhancing the human and financial capital of children in less wealthy families
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Canada’s Poverty Reduction Strategy adopts the United Nations Sustainable Development Goal to end poverty
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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
Dani Rodrik’s weblog
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Economics for Inclusive Prosperity (EfIP)
We launched today a new initiative for academic economists that we hope will make the discipline of Economics more relevant to today’s pressing policy problems. The initiative consists of a network called Economics for Inclusive Prosperity (EfIP) with an initial set of 10 policy briefs. The briefs open with an introductory statement of our philosophy and go on to specific policy recommendations for finance, trade, labor markets, social policy,...
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Economists’ statement in support of Atif Mian
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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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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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More on distinguishing ideas and interests — an exchange with Peter Hall
Global Economic Intersection
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Inflation And Income Distribution: A Reply To The Vulgar Keynesian Policy Enthusiasts
Posted on 21 March 2019 by Philip Pilkington Noah Smith has a recent post on inflation in which he urges economists to learn to love inflation. We live, as everyone knows, in a period of low inflation and high unemployment and I suppose Smith’s point is that we shouldn’t worry much about inflation and instead focus on income growth. Fair enough. But would-be Keynesian policy enthusiasts really should temper their language.Please share this...
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How Failing Banks Paved Hitler’s Path To Power: Financial Crisis And Right-wing Extremism In Germany, 1931-33
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Tending To His Own Garden: Has Krugman Finally Turned On The ISLM?
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How Much Slack In The Labor Force?
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China Syndrome Redux: New Results On Global Labour Reallocation
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Retirement Isn’t Happening
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Can America Hit ‘Full Employment’?
Casey Mulligan: Supply and Demand
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Remembering Alan Krueger
Sadly Princeton Professor and former CEA chair Alan Krueger passed away this weekend. Many younger economists were inspired by his insistence that economics is an empirical subject: no matter how good a theory sounds, it is not valuable unless it is confirmed with data. He was 100% correct about that. Another of his many contributions was his editorship of Journal of Economic Perspectives which, unlike most academic journals, publishes...
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Mathematica advertising economics tools
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Inflation has little to do with the Unemployment Rate
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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
Bradley A. Hansen’s Blog
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Some Recent Economic History of Slavery and Its Political and Economic Legacy
The other day on twitter, Seth Rockman and I were discussing current work on slavery by economic historians. He thought that there was “more energy being spent policing "driving force" claims than in generating new findings about how/where slavery mattered to broader economic transformations.” I told him that refuting claims like those made by Ed Baptist really doesn’t take that much effort, and I suggested a list of people that he...
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The Newer History of Capitalism
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Women in Economics
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Ayn Rand and American Business History
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Loan Sharks Posts Redux
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Lyra
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The History of the History of Sears and Jim Crow
Managerial Econ
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luke froeb (@LukeF1) | Twitter
Biggest Great White ever recordedpic.twitter.com/k6yWLCEwmz
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What two questions should you ask on your first date?
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Free Online Course: Econometrics
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Do criminals respond to incentives?
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What makes CEO’s different?
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Did Warren Buffett finally read Chapter 9?
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Successful economists do not need to self-symbolize
Donald Marron
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Should Congress Use The Income Tax To Discourage Consumer Drug Ads?
Senator Jeanne Shaheen (D-NH) and a score of Democratic cosponsors want to use the tax code to discourage direct-to-consumer advertising by drug companies. Their bill, the End Taxpayer Subsidies for Drug Ads Act, would prohibit firms from taking tax deductions for any consumer advertising of prescription drugs. Limiting tax deductions is a blunt and arbitrary way of approaching a legitimate concern. Consumer drug ads play an important role in...
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Should Congress Use The Income Tax To Discourage Consumer Drug Ads?
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Designing Carbon Dividends
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Designing Carbon Dividends
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Three Things You Should Know about the Buyback Furor
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Three Things You Should Know about the Buyback Furor
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Talking Money, Inflation, Fiat, & Bitcoin
David Flynn: Barter is Evil
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Grand Forks Sales Tax Collections
I thought I would update the sales tax forecast today. Teaching forecasting means a great deal of my time is spent looking at these types of models. There is an enormous amount of volatility in the Grand Forks sales tax collection data. I have started work on some related models to try and smooth out some of the volatility and maybe make the statistical properties of the series a bit more tractable. It really cannot help any type of planning...
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Oil & Fertility in North Dakota
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More negotiation dimensions
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Oil Boom but no baby boom in ND?
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Tax Policy and User Experience
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Births to Married and Unmarried Women in ND
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Predicting the State of the Union Impacts
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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Institute for Wow
Institute for Wow December 15, 2018 in academic satire, education, Popular Science Hot on the heels of its new Division of Linear Algebra, Empire State’s President announced a new Institute for Wow. Unlike other centers and institutes on campus that were dedicated to basic research or innovation, this one would focus only on research that would grab attention. “Universities,” she said, “ have tried for centuries to inform and...
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New Linear Algebra Division
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A New Business Idea
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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
Timothy Taylor: Conversable Economist
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What Did Gutenberg’s Printing Press Actually Change?
There's an old slogan for journalists: "If your mother says she loves you, check it out." The point is not to be too quick to accept what you think you already know.In a similar spirit, I of course know that the introduction of a printing press with moveable type by to Europe in 1439 by Johannes Gutenberg is often called one of the most important inventions in world history. However, I'm grateful that Jeremiah Dittmar and Skipper...
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The Remarkable Renaissance in US Fossil Fuel Production
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Wealth, Consumption, and Income: Patterns Since 1950
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Reentry from Out of the Labor Market
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Alternatives to the Four-Year College Track for Everyone Else
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Paul Cheshire: “Cities are the Most Welfare Enhancing Human Innovation In History”
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Some Peculiarities of Labor Markets: Is Antitrust an Answer?
Econbrowser
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Just So You Know: Watergate and Recession
Figure 1: Nonfarm payroll employment (blue, left log scale), industrial production (red, right log scale). NBER defined recession dates shaded gray. Source: BLS, Fed via FRED, NBER.
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Update: Mr. Stephen Moore’s Peer Reviewed Journal Articles
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Inversion!
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MMT for the ADD
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NYC Minimum Wage Devastates NYC Employment in Sector X
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On vacation!
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Self-Professed Policy Analyst Predicts Minimum-Wage Induced Employment Disaster [CORRECTED]
Tim Harford: Undercover Economist
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Just because you’re paranoid, doesn’t mean the algorithms aren’t out to get you
Just because you’re paranoid, doesn’t mean the algorithms aren’t out to get you If you do not like the price you’re being offered when you shop, do not take it personally: many of the prices we see online are being set by algorithms that respond to demand and may also try to guess your personal willingness to pay. What’s next? A logical next step is that computers will start conspiring against us. That may sound paranoid, but a new study...
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Is life a bet, or an experiment?
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Why inflation is good for us
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How high should the top rate of tax be, and who should pay it?
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Some fabulous books about numbers
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“Blue Monday” pseudoscience should teach us to be more curious
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Lessons from the wreck of the Torrey Canyon
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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The incentives of centralized school admissions systems
Summary Many school districts around the world have adopted centralized admissions systems to coordinate student assignments. These mechanisms ask students to rank the schools that they would like to attend and then use an algorithm to co-ordinate placement. These algorithms take into account student preferences, eligibility criteria at various schools and school capacities....
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Tax evasion and inequality
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The costs of public sector patronage: lessons from the British Empire
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Measuring the impact of US state taxation on business activity
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Bias in cable news
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Why is Pollution from U.S. Manufacturing Declining?
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Optimal timing of unemployment benefits: evidence from Sweden
Carola Binder: Quantitative Ease
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Central Banking Stories to Watch in 2019
Happy New Year, everybody! 2018 has been a quiet year for my blog, but productive on other fronts, as I've kept busy with research and my family. But here are a few central bank-related stories I'm interested in following in the new year. 1. New Governor at Reserve Bank of IndiaFollowing the early exit of Governor Urjit Patel in December, Prime Minister Modi appointed the third central bank governor in just three years: Shaktikanta Das....
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Inflation Expectations and the Price at the Pump
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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
Economonitor
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CESifo and Fiscal Money: Omissions and Blunders
The recent CESifo report on Europe discusses Fiscal Money; unfortunately, it misses its whole point. In its report on the European economy, CESifo – one of the most highly reputed economic research centers of Germany – devotes some considerable space to our Tax-Credit Certificates (TCCs) proposal to revamp the Italian economy (pp. 68-70). TCCs represent one form of what we have elsewhere termed as Fiscal Money.[i] The report criticizes our...
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How Chinese Investment in Latin America Is Changing
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China’s Growth Rebalance with Downslide
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“Unconventional” Fiscal Policies
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Why Brazil Must Build a (Fiscal) Wall
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World Bank: A Hummingbird on the Firing Line
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Economic effects of the Brazilian constitution
Offsetting Behaviour
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Offsetting Behaviour 2019-03-22 06:04:00
My column in this week's Insights newsletter - now a bit dated. The newsletter comes out at noon; our national moment of silence was an hour and a half after that. Last week feels like it was a year ago. And the past week has made the world feel a little smaller.Last night, the Rt. Hon. Stephen Harper, Prime Minister of Canada from 2006 through 2015, addressed members and guests of the Initiative at our annual retreat.We found that Laureen,...
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Punching Nazis?
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Vaccines
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Midwife-led care
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Reducing harm or barking at cars?
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Morning roundup
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YIMBY – local bottle shop edition
T. Cowen: Marginal Revolution
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The economic ecology of Jews as a rural service minority
The five million Jews who lived in the Pale of Settlement at the turn of the century were overwhelmingly over-represented in towns and in cities. They specialized in seemingly urban occupations, were relatively literate, and were almost absent in agriculture. This pattern persisted overseas where one third of them would eventually immigrate. Hence, Jews were typically characterized as an urban minority. I argue that the opposite was true. The...
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What do concert audiences really want?
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Ross Douthat on some reasons for the electoral college
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Saturday assorted links
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Missing markets in everything?
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How bad would a hard Brexit really be?
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The Hayek auction results are very impressive
Jared Bernstein: On the economy
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The loss of a great economist and a great man
Like everyone else who knew him, I’m in shock and despair over news of the death of the economist Alan Krueger. Alan was the best kind of colleague: always inquisitive, incredibly rigorous about what constituted facts and evidence in economics, and willing and able to talk about his work in ways that made sense to anyone who would listen. I admired everything about Alan, but a few things stand out. He taught us a lot about creativity. Like the...
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Jobs report, Feb 2019 [truncated]: Outliers happen, and faster real wage growth!
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There’s a new financial transaction tax proposal in town. Here’s why that’s good news.
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What does it mean when both stock and bond prices are falling?
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Real wage gains and energy prices
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Foreign holdings of US debt have been coming down a bit. Is that a problem?
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January Jobs: Another upside surprise shows the benefits of closing in on full employment.
Simon Wren-Lewis
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Labour’s Brexit stance was a tragedy for Labour but not for the country. Brexit is an entirely Tory failure.
Before deciding that I’m writing about Labour when I should be writing about the disaster that is Theresa May, please read to the end. As it becomes obvious (sort of) that there is no majority among MPs for a People’s Vote (something that has actually been clearfor some time), the argument has been madethat this justifies Labour’s failure to support a People’s vote and instead to seek a compromise, a softer Brexit. I have talked about the...
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Brexiters are stopping Brexit because they need to believe in the fantasy of Global Britain
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Triangulation or bipartisanship does not work when one side goes off the scale
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If you enjoyed the last two years and want more of the same, vote for May’s deal
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Is the German Debt Brake the worst fiscal rule ever?
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Is increasing workers’ bargaining power a way of raising real wages?
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Parliament’s Brexit Game: has anything changed?
Free Exchange Economist
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The hubris of ten-year budgets
IN February of 2001, Alan Greenspan, then still the chairman of the Federal Reserve, and still called the “Maestro”, testified to the Senate Budget Committee. The committee wanted to get started on the tax cuts George W. Bush had promised during his campaign. Mr Greenspan gave them his qualified blessing, with an argument that now sounds incredible: he was worried that America would pay down its debt too soon. That week the Clinton...
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Bitcoin is fiat money, too
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How to interpret a market plunge
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Podcast: Vorsprung durch Angst
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Has BRICS lived up to expectations?
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Podcast: Super Mario to the rescue
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Europe inches closer to a plan for fixing its financial flaws
Worthwhile Canadian Initiative
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Breaking up the quarter million dollar club
Ontario eliminated mandatory retirement in 2006. Six years later, professors started to enter the quarter million dollar dollar club. This exclusive group is comprised of university professors aged 71 or older who, due to the curious interaction of federal pension legislation and academic collective agreements, are able to collect a full pension and a full salary. The average salary of a full professor in Canada is around $166,000 per year...
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Canada’s Gross Domestic Income and trading gains: An update and estimates for the provinces
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Hopefully, Tomorrow Won’t Be Yesterday
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The Federal Debt of the United States, 1791 to 2018: A Presidential Ranking
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Carbon taxes and the Marginalists’ difficult idea
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Inflation and the Debt/GDP ratio
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NAFTA – The “Worst” Trade Deal Ever
Miles Kimball
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Jeffrey A. Sachs—The Campus Free Speech Story You Haven’t Heard: It’s Partisan
(Note: terms that absolutely no one in the media has used so far to describe this episode include snowflakes, call-out culture, victimhood culture, outrage culture, cancelled, coddled, PC run amok, censorship, self-censorship, fragility, identity politics, or micro-aggressions.)
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Reihan Salam: What Fiji Can Teach America About Immigration
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In Honor of Alan Krueger
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Twitter Tributes to Alan Krueger
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Eggs May Be a Type of Food You Should Eat Sparingly, But Don’t Blame Cholesterol Yet
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Adam Harris: One Way to Stop College-Admissions Insanity: Admit More Students
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Echo Huang: The East and West Have Very Different Ideas on Who to Save in a Self-Driving Car Accident
FT Alphaville
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Immigration: comparing this wave to the last
Leah Boustan of Princeton and Maggie Peters of UCLA look at the wave of migrants to the US from Central America and compare it to the last great wave, from Europe in the late 19th century. Some things are the same: immigrant families are adopting "American" names at the same rates as before, for example. Some things are different: the speed of communication and container shipping mean that American companies prefer to get cheap...
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Safkhet Capital’s defence of short selling
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Behind the curtain at China Ding Yi Feng
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The rise of educational forgery
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The Russian wrestler on the run (with video!)
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Amazon (sub)Prime?
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A bad situation in Venezuela is getting worse
Greg Mankiw
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Memo to Senate: Just Say No
A couple of weeks ago, I gave a talk at the Federal Reserve Bank of Dallas. I said that, although I am not a fan of President Trump, I have to give him credit for making good appointments to the Fed. I was thinking about people like Jay Powell, Rich Clarida, and Randy Quarles.Then today the president nominates Stephen Moore to be a Fed governor. Steve is a perfectly amiable guy, but he does not have the intellectual gravitas for this important...
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Reflections of a Textbook Author
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Passing the Baton
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If you are in North Carolina…
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Econ Theory Summer Camp
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A Clue in Today’s Jeopardy!
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Campbell McConnell
John Cochrane’s blog
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Concentration increasing?
Is the US economy getting more concentrated or less? At the aggregate level, more. This is a widely noted fact, leading quickly to calls for more active government moves to break up big companies.But at the local level, no. Diverging Trends in National and Local Concentration by Esteban Rossi-Hansberg, Pierre-Daniel Sarte, and Nicholas Trachter documents the ...
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Less listing
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Monopoly in history
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Competitive deposits?
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Fed vs. Narrow Banks
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The death of the healthcare market
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Privatize TSA and ATC!
Peterson Institute
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The Fed Is on Hold
The Federal Open Market Committee (FOMC or Fed) left the target for the federal funds rate unchanged at a range of 2.25 to 2.50 percent, as was widely expected. The news in the March 2019 meeting came on two other fronts. First, the projection for economic growth was marked down slightly, suggesting that the Fed has less reason to tighten further. Indeed, the median projection for the federal funds rate shows no rate increase this year and an...
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Why the Next ECB President Will Be from Germany—and Probably Jens Weidmann
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How Worrying Is the Recent Downgrading of German Growth Forecasts?
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Why Are German Centrists Cozying Up to Hungary’s Orban?
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Brexit Brinksmanship May Yield a Soft Result
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Should Internet Companies Be Taxed for Profiting from Private Data?
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The European Union Must Change its Supervisory Architecture to Fight Money Laundering
Ben Bernanke at Brookings
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Evaluating lower-for-longer policies: Temporary price-level targeting
By Ben S. Bernanke Despite a long and sustained recovery from the Great Recession, a number of factors—including an aging population, slow productivity growth, and subdued inflation—continue to exert downward pressure on U.S. interest rates. It seems likely that even when monetary policy is at a neutral setting, neither restraining nor stimulating the economy, interest rates will remain significantly lower than in recent decades. One...
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The housing bubble, the credit crunch, and the Great Recession: A reply to Paul Krugman
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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?
David Andolfatto: Macro Mania
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The Chicago Booth Survey on MMT
I want to say a few things about Chicago Booth's recent survey questions posed to a set of economists; see here. The survey asked how strongly one believes in the following two statements: Question A: Countries that borrow in their own currency should not worry about government deficits because they can always create money to finance their debt. Question B: Countries that borrow in their own currency can finance as much real government...
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Sustainable deficits
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Is Neo-Fisherism Nuts?
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When is more competition bad?
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Racial Diversity in the Supply of U.S. Econ PhDs
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Does the Fed have a symmetric inflation target?
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Working More for Less
Macro and Other Market Musings
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The FOMC Decision: A NGDP Perspective
The FOMC voted this week not to raise its target interest rate and signaled no additional hikes are planned for this year conditional on the outlook. This is a big change from last fall when the FOMC was talking up multiple rate hikes and dismissing concerns about the flattening yield curve. This 11th-hour conversion to a more dovish stance is a remarkable turnaround, one that some observers like Tim Duy are calling a "major...
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Oh, the Horror of a Corridor!
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How Close is the Fed to a Corridor System?
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A Risk Sharing View of Monetary Policy
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A New Paper on the Fed’s Floor System
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Janet Yellen on NGDPLT
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“Et tu, John Williams?”
John B. Taylor
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A Different Kind of Revisiting the 2008 Financial Crisis
During the past few months, John Cochrane and I organized a series of workshops on the 2008 financial crisis. Monika Piazzesi, George Shultz, Niall Ferguson, Caroline Hoxby, and Darrell Duffie joined us in making presentations and, along with other colleagues who attended, turned the series into a vigorous and informative discussion. We defined each workshop by topic: Causes, Panic, Recession, and Lessons, and posted papers or summaries by...
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Now They’re All Saying “It’s Time to Write Chapter 14 into Law”
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Three Attributes of a Sustainable Open and Stable Global Order
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Econ 1, Tiger Woods, and the [email protected]
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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
Roger Farmer’s Economic Window
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There are many unemployment rates for any r*
Eric Lonergan has a new blog post in which he draws attention to the importance of the asset markets in business cycle dynamics. While there is much to like in that post, I find parts of Eric’s argument misleading. Here is Eric: “This leads us to the how [stet] the equity market determines the ‘neutral ...
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Why deficits are sustainable and inflation has a life of its own
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Social Progress is not an Illusion
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Don’t Trust the Markets
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Conference at the Bank of England
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Lend Me Your Ears: Friedman and The Role of Financial Policy
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Taming the Lion
Jeffrey Frankel’s Blog
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Bold Ideas are Not Always Better than Old Ideas
Tweet February 28 — US Democrats are moving to the left, we are told. It is not yet clear that the median voter is in fact moving left, nor the median congressman who was elected last November. But it is clear that many of the candidates for the 2020 Democratic presidential nomination are experimenting with “bold new ideas”, or at least bold rhetorical formulations. They are receiving what seems a disproportionate amount of attention for...
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The euro’s first 20 years
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New Year questions about the economic outlook
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Six right predictions in 2018
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3 Book Recommendations: Openness & Progress
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The Lesson from George H.W. Bush’s Tax Reversal
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Gopinath follows Obstfeld at the IMF, in a great tradition
Brad Delong, Berkeley
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This Has Certainly Been One Crazifying Fed Tightening Cycle…
This has certainly been one crazifying Fed tightening cycle. The 10-year nominal Treasury rate is only 0.2%-points higher than it was back in mid-2015, when liftoff appears imminent. the 10-year real rate is back where it started at 0.65, after having gone as low as zero and as high as 1.1%. And—unless it is triggered by strong good growth news—any further increase in the federal funds rate would invert the yield curve, which the Federal...
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A Baker’s Dozen of Books Worth Reading…
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Brad DeLong's Grasping Reality 2019-03-22 01:24:37
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Fairly Recently: Must- and Should-Reads, and Writings… (March 21, 2019)
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Brad DeLong's Grasping Reality 2019-03-21 23:18:37
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Brad DeLong's Grasping Reality 2019-03-21 23:05:33
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Brad DeLong's Grasping Reality 2019-03-21 22:54:17
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
