Leaders
Brad Delong, Berkeley
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Self-Portrait of Otto von Bismarck as an Atheistic Young Hegelian
...In earliest childhood I was estranged from my parents' house, and at no time became entirely at home there again ; and my education from the beginning was conducted on the assumption that everything is subordinate to the cultivation of the intelligence and the early acquisition of positive sciences. After a course of religious teaching, irregularly attended and not comprehended, I had at the time of my confirmation by Schleiermacher, on my...
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Brad DeLong's Grasping Reality 2019-12-10 09:48:34
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Eternal September: How Trolls Overran the Public Square: Project Syndicate
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Stop Inflating the Inflation Threat: Project Syndicate
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No, We Don’t “Need” a Recession
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The Vexing Question of Prussia
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Brad DeLong's Grasping Reality 2019-12-10 04:35:23
Bradley A. Hansen’s Blog
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Bankrupt in America
Bankrupt in America: A History of Debtors, Their Creditors and the Law in the Twentieth Century will be published by The University of Chicago Press in January 2020.In the meantime, here are the review quotes: Lee J. Alston, Indiana University “Bankrupt in America is a tour de force analysis of bankruptcy legislation and its impact over the twentieth century. It shows the interplay among state and federal legislation, economic conditions,...
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A Description of the Problems with Edward Baptist’s “The Half Has Never Been Told” for Non-Economists
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Economics needs better critics: Jared Bernstein edition
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Institutions, Norms, and Culture
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Blog Post From Nebraska
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“You think it’s dead but de past ain’t stopped breathin’ yet.”
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Gavin Wright on Slavery and Anglo-American Capitalism
Casey Mulligan: Supply and Demand
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“They desperately tried to prevent the truth…”
"They desperately tried to prevent the truth about the Famine from reaching the ears of the higher ups." Raleigh, Helen. Confucius Never Said (p. 25). Raleigh and others have described the problems in Mao's China and Stalin's USSR with communication up the political hierarchy. But of course for Americans that history is hardly relevant. In the USA, truth reaches the higher ups because we have democracy, a free press, and modern...
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Trump’s economists will be missed
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Tragic consequences of cheap “meth”: more meth consumption and more meth overdoses
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Cowen and Cochrane are confused about price controls
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Medicare for All has Been Around for Years
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Comparing Presidents Reagan and Trump: The Case of International Trade
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Some Relevant International Trade Theory
Dani Rodrik’s weblog
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Announcing the US-China Trade Policy Working Group
Concerned about where the US-China trade relationship is going, we recently formed a “US-China Trade Policy Working Group.” Yang Yao, Jeff Lehman and I are co-conveners. Other members are Meredith Crowley, Robert Howse, Jiandong Ju, Feng Lu, Justin Yifu Lin, Eric Maskin, and Rob Staiger. We released our statement today. The statement is signed by 27 additional economists and legal scholars, including Philippe Aghion, Kaushik Basu, Robert...
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Follow my commentary
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Some (very brief) words for graduates
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Economics for Inclusive Prosperity (EfIP)
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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
David Flynn: Barter is Evil
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ND Metro Area Labor Force
Economic performance requires comparison often. It is not always clear what to do in terms of comparison sets though. Let’s start with the metropolitan areas in North Dakota. Labor force is a nice comparison variable to utilize as well. First we can look in the levels. The takeaway from here should be that there is only one metropolitan area growing in North Dakota (in terms of labor force). You could maybe make the argument about...
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Making County Comparisons in ND
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Radio discussion: Tax changes
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ND County Clusters by Income Source
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Cluster Analysis and Hockey
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A different age group in ND
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ND Taxable Sales & Purchases, Q1 2019
Econbrowser – James Hamilton
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Business Cycle Indicators, December 9th
Personal income excluding transfers and industrial production are falling in October, even as employment rises in November. Figure 1: Nonfarm payroll employment (blue), industrial production (red), personal income excluding transfers in Ch.2012$ (green), manufacturing and trade sales in Ch.2012$ (black), and monthly GDP in Ch.2012$ (pink), all log normalized to 2019M01=0. Source: BLS, Federal Reserve, BEA, via FRED, Macroeconomic Advisers...
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Private nonfarm employment: BLS vs. ADP
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Probability of Recession: In 12 Months vs. Within 12 Months
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Manufacturing Employment: BLS vs. ADP
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Guest Contribution: “Is capital flow management effective? Evidence based on U.S. monetary policy shocks”
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An Event Study: Trade Truce-Part 1, or Not?
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Guest Contribution: “Let’s Go Back to Good Old Tariff-Cutting”
David Andolfatto: Macro Mania
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A conversation with Eric Tymoigne on MMT vs SMT
There are a lot of moving parts to the MMT program. I want to focus on one of these parts today: the relation between monetary and fiscal policy. One thing I find appealing about MMT scholars is their attention to monetary history and institutional details. I've learned a lot from them in this regard. But as is often the case with details, one has to worry about whether they help shed light on a specific question of interest, or whether they...
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Blanchard and Farmer on the Phillips Curve
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Does the Phillips Curve Live in Europe?
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The Phillips Curve in Recession and Recovery
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Is the U.S. budget deficit sustainable?
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Is the ZLB an economic or legal constraint?
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The Chicago Booth Survey on MMT
Worthwhile Canadian Initiative
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Increased Price Flexibility is Destabilising in New Keynesian Models. (And a Price-Level Path Target is Stabilising)
Start with a very simple New Keynesian "IS" (or "Aggregate Demand") equation: y(t) = E[y(t+1)] - a[r(t)-r*(t)] The "real" (inflation-adjusted) interest rate r(t) is defined as the "one period" nominal interest rate, minus expected inflation for the following "one period". In order to stabilise output y(t), relative to expected future output E[y(t+1)], the central bank needs to ensure that the...
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Does (cohort) size matter?
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Boiling Frogs – Slow Recoveries are Deep Recoveries, with Flatter Phillips Curves
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Rising Health Spending Is Not Just About Seniors
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Hilbert’s Hotel and the National Debt when r < g
Tim Harford: Undercover Economist
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My books of the year 2019
My books of the year 2019 Not all of them published this year – and of course the list is subjective. Book that did most to change the way I thought – Caroline Criado Perez, Invisible Women. My long-time producer, Charlotte McDonald, has been trying to get me to engage with the “gender data gap” for ages, but I never really felt I got the problem. Perez has delivered a much needed correction: full of persuasive examples and analysis of...
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Cautionary Tales Ep 5 – Buried by the Wall Street crash
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How to survive an election with your sanity intact
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Cautionary Tales Ep 4 – The Deadly Airship Race
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Why we should all be playing games
Timothy Taylor: Conversable Economist
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Interview with Daron Acemoglu: Wellsprings of Growth
Tyler Cowen conducts one of his rich and illuminating "Conversations with Tyler" in "Daron Acemoglu on the Struggle Between State and Society" (Medium.com, December 4, 2019, both audio and transcript available). Here are a few tidbits from Acemoglu, but there's much more at the link:On interrelationships between democracy and growth The early work on democracy — such an important topic, and people were really excited about...
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Paul Volcker: 1927-2019
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Why Mississippi Deserves More Federal Aid, and Massachusetts Less
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Revisiting the Industrial Policy Question in East Asia
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About Millennials
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Whose Charitable Giving (And for What Purposes) Gets a Tax Break?
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Production, Use and Fate of All Plastics Ever Made
S. Sumner: Money Illusion
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Nafta 2.0: What’s the point?
There seems to be a tentative Nafta agreement between Trump and the House Democrats. The fact that Trump and the “progressive” Dems agree on the trade deal while the congressional GOP is skeptical is itself a pretty good indicator of what’s in the package. The former ambassador to Canada is a big fan of the deal: Bruce Heyman, the former U.S. ambassador to Canada from 2014 to 2017, went even further. “It’s one of those rare circumstances...
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That’s “progress”
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Further thoughts on progress and happiness
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Give thanks for Progress?
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Hypermind vs. the consensus of economic forecasters
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Some updates on China
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Are you one of those people?
T. Cowen: Marginal Revolution
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Sweden recovers in the PISA tables
The 2013 edition of the survey was a wake-up call for Sweden, which experienced a sharp drop in the results of 15-year-old students, pushing them below the OECD average and sparking debate about the country’s schools. But Tuesday’s release of the 2018 Pisa ranking suggests that Swedish schools have further improved on a recovery that started with the 2016 edition, with above-average scores in reading, mathematics and science. The report notes...
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Wednesday assorted links
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A Symposium for John Perry Barlow
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Non-cognitive skills and earnings in Canada
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From the comments — on Paul Volcker
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Tuesday assorted links
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Paul Volcker’s Latin American legacy
Simon Wren-Lewis
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Why you should vote tactically, and how to do it.
In this election we have a choice. We can choose a party led by an inveterate liar, which is happy to appeal to the racist or xenophobic vote, happy to take us out of the EU with no deal with all the consequences for public services that entails, happy to see ever longer waiting times for GPs and A&E, happy to see more homeless people on the streets and more food banks. Instead we can choose a hung parliament with a Labour minority...
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The othering of Jeremy Corbyn
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Some thoughts on Labour’s campaign
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Will UK voters really vote for the Republican party and our own Donald Trump?
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In defence of the IFS, and why it cannot tell the whole story
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Is Labour’s economic plan credible?
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How to disguise a really big lie? Put it on a bus.
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Seldomly
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Remembering My Dad, Donald Marron, 1934 – 2019
My dad died unexpectedly last Friday. He lived a remarkable, generous life. Obituaries in Bloomberg, NYT, and WSJ give a taste of his success in business, charity, and the arts. He was truly a self-made man. Some of my favorite memories, however, are of my dad’s rare failures. His unsuccessful effort to hurdle my sister’s cello during a game of chase. That time we got ejected from Yankee Stadium for throwing paper airplanes. The one and only...
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Who benefits from rent control? Evidence from San Francisco
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Effects of vertical mergers in multichannel TV markets: evidence from regional sports programming
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When Fewer Options are Better for Consumers: The Benefits of Narrow Health Insurance Networks
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Providing low-cost labor market information to assist jobseekers
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Subsidizing health insurance for low-income adults: evidence from Massachusetts
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Understanding the Average Impact of Microcredit
Roger Farmer’s Economic Window
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Taxing Billionaires
I just read a fascinating twitter exchange between @Noahpinion and @gabriel_zucman. My scoring so far: Noah: 10: Gabriel: 0 Gabriel argues for taxing billionaires immediately based on the principle of “ability to pay”. Noah asks if his reasoning is based on some unarticulated moral principle; or is it on practical grounds. The State needs the ...
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How Economics Can Help To Improve People’s Lives
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A Requiem for the Fiscal Theory of the Price Level
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Central Bank Equity Purchases: An Idea Whose Time has Come
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The Future of Macroeconomics
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Why the Indeterminacy Agenda Matters in the Real World
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Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.
Project Syndicate
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The Rape of India’s Soul
India’s rapid descent into xenophobia, violence, and irrationality has an important economic dimension, but it takes politicians to channel these emotions into nationalism, and to embolden the nationalists to commit violence. Now that the BJP has done so, is it able – or willing – to exorcise the many demons it has unleashed? NEW DELHI – Injustice, discrimination, and violence are hardly unheard...
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Where Is the AMR Rebellion?
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If Wealth Is Justified, so Is a Wealth Tax
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A New Hope for US Climate Action
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Tackling Inequality from the Middle
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The Evolution of Chinese Corporate Social Responsibility
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Is Growth Passé?
Paul Krugman
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Donald Trump Is Bad for the Jews
On Saturday Donald Trump gave a speech to the Israeli American Council in which he asserted that many in his audience were “not nice people at all,” but that “you have to vote for me” because Democrats would raise their taxes.Was he peddling an anti-Semitic stereotype, portraying Jews as money-grubbing types who care only about their wealth? Of course he was. You might possibly make excuses for his remarks if they were an isolated instance,...
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Is It Possible Trump Is on the Right Track With China?
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Why Is Trump a Tariff Man?
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America’s Red State Death Trip
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Why Trump Should Hate Thanksgiving
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Trump Gives U.S. Business the Ukraine Treatment
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Trump and His Corrupt Old Party
Noah Smith
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Why Kevin Williamson is wrong about poverty and bad behavior
I recently wrote a post at Bloomberg Opinion arguing that "bad behavior" - drug use, violence, single parenthood, and idleness - is not the main cause of poverty in advanced nations. As evidence, I cited the country of Japan, which has extremely low rates of drug use, violence, single parenthood, and idleness, and yet which has a poverty rate almost as high as that of the U.S., and significantly higher than those of wealthy European...
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The Middle Eastern Thirty Years War?
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Examining an MMT model in detail
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Where should Americans live if they live abroad?
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Guest post: Roy Bahat on Uber, Lyft, and the future of work
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A proposal for an Alternative Green New Deal
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Book Review: The Revolt of the Public, by Martin Gurri
Offsetting Behaviour
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Reader mailbag – competition for the sporting market edition
A learned reader writes in response to the post on competition among sporting leagues: You are generally right about the lack of competition for the market in sport but I suggest you have a look at FINA, the world body and Olympic entity for most aquatic sports: swimming; diving; water polo; artistic swimming (formerly synchronised swimming); high diving; and open water swimming, along with masters for all these events. It faces competition...
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The year of delivery
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One policy instrument for each target, and every agency in its place
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Data preservation, IRD, and the OIA – the saga continues
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Chicago and Academic Freedom
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Sport and competition for the market
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Open for business?
Microeconomic Insights
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Who benefits from rent control? Evidence from San Francisco
Summary Steadily rising rents in many American cities have brought the issue of affordable housing to the forefront of policy debate. This column reports evidence on the effects of an expansion of rent control in San Francisco on tenants, landlords, and inequality. The researchers find that while the policy prevented short-term displacement of incumbent tenants, landlords responded by...
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Effects of vertical mergers in multichannel TV markets: evidence from regional sports programming
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When Fewer Options are Better for Consumers: The Benefits of Narrow Health Insurance Networks
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Providing low-cost labor market information to assist jobseekers
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Subsidizing health insurance for low-income adults: evidence from Massachusetts
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Understanding the Average Impact of Microcredit
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Nominal wage rigidity in village labor markets: evidence from India
Miles Kimball
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Cancer Cells Love Sugar; That’s How PET Scans for Cancer Work
Last week, a friend who is a cancer survivor noted that people are given radioactive sugar before a positron emission tomography (PET) scan. Why does this work? It is because cancer cells love sugar. Here is how “Oncology” section of the current version of the Wikipedia article on “Positron emission tomography” says it (glucose is blood sugar):PET scanning with the tracer fluorine-18 (18F) fluorodeoxyglucose (FDG), called FDG-PET, is widely...
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Andy Glover on Negative Interest Rate Empirics
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Avi Loeb: Curiosity, Not Careerism in Science
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How Measles Depletes the Body’s Immune Memory
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Andrea Eisfeldt, Hanno Lustig and Lei Zhang: To Grab Expected Excess Return, the Hard Part is Designing Just the Right Tracking Portfolio
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Miles Kimball’s Presentation on Negative Interest Rate Policy to the National Association of Business Economists
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Using a Q-Theory Real Business Cycle Model to Understand Stock Returns When Monetary Policy is Optimal
Miles Corak: Economics for public policy
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Poverty and equality of opportunity: three pictures to motivate policy for social mobility
Read my comments presented to the Public Economics Forum on “Intergenerationally Disadvantaged: Newest Evidence and What it Means for Policy,” organized by the Melbourne Institute for Applied Economic and Social Research, on November 26th, 2019 in Canberra, Australia. Social mobility varies across countries, but it varies in a particular way, a way that I argue is relevant for the conduct of public policy. Inequality begets inequality. Up to...
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Tax the rich! Tax the rich! Tax the rich? But why?
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My Mandate Letter for the Minister of Families, Children and Social Development
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How do the party platforms address the changing nature of work, pay, and poverty?
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Intergenerational mobility between and within Canada and the United States
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The “middle class” is within easier reach for low income Canadian children, than it is for low income Americans
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If there is such a thing as the “Canadian Dream,” it would look very much like what Americans say is the “American Dream”
Mark Thoma
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Thread
Having trouble keeping up. More thread for comments...
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Links (11/06/19)
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Links (10/31/19)
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Links – Catching Up (Part 2)
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Links – Catching Up (Part 1)
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Thread
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Links (9/25/19)
Managerial Econ
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2019 Book recommendations from the Undercover Economist
Tim Harford's list:I put this one on my list Book that did most to change the way I thought – Caroline Criado Perez, Invisible Women. My long-time producer, Charlotte McDonald, has been trying to get me to engage with the “gender data gap” for ages, but I never really felt I got the problem. Perez has delivered a much needed correction: full of persuasive examples and analysis of areas from public policy, medicine, economics and elsewhere in...
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Anticipating problems from incentive conflict
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Incentive conflict between McDonalds and its Franchisees
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Sales “bunching” and high-powered commission rates
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What is the best way to increase demand for your service?
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Taxes & transfers redistribute income
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Which organizational forms can best adapt to change?
Macro and Other Market Musings
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Allan Meltzer’s Life Work
The Hoover Press and the Mercatus Center have just released a new book on Allan Meltzer's contributions to economics. The book is comprised of papers that were presented at a 2018 conference commemorating his work on the monetary transmission mechanism, the history of the Fed, and his more general work on public policy. Below is the table of contents for the book: I happen to be the editor of the book and, as seen above, have two chapters...
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New Policy Brief on NGDPLT
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The Repo Man Cometh
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Some Assorted Macro Musings
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More on the U.S. as a Banker to the World
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New Articles on NGDP Targeting
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Is the Fed’s Floor System Beginning to Fold?
John B. Taylor
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A Fast and Fun Way to Learn about Rules Versus Discretion
The Hoover Institution has initiated a fascinating Perspectives on Policy video series in which experienced experts give clear explanations of key policy issues assisted by the latest in animation technology. This is not the typical video of talking heads as you might expect. In this imaginative series tabletop cartoon figures join the experts, move around the screen, bend and twist to show emotions, and even wave at each other from time to...
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Congressional Testimony on the Costs of Rapidly Growing Government Debt
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9/11/2001 and the 18 Years Since Then
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Economics 1: Now More Important Than Ever
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Choice of IMF Managing Director Should Reflect 75 Years of Change
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A Beautiful Model Now Questioned
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Central Bank Independence Is Not Enough
John Cochrane – Grumpy Economist
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Childbirth and crime
Family formation and crime is the title of a very nice new paper by Maxim Massenkoff and Evan K. Rose. (HT Alex Tabarrok at Marginal Revolution, which also has great commentary.)The graphs speak for themselves. Go to the paper to look at them all. A few select ones:Arrests fall by half, starting when mothers know they ...
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Capital market freedom
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Free market health care
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Climate clarity
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Economics and cognitive dissonance
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Who pays more taxes
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Bans on fracking and nuclear power
Leisure of the Theory Class
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The game theory of the electoral threshold
The game theory of the electoral threshold April 7, 2019 in Uncategorized Israel is holding an election Tuesday. It’s a multi-party system in Israel, based on proportional representation, and the main battle is between two blocs of parties. We call them the left-wing bloc and the right-wing bloc, and civics textbooks will tell you that this division is about policy: the Arab-Israeli conflict, economics and the role of religion. But...
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Institute for Wow
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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
Jeffrey Frankel’s Blog
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Let’s Go Back to Good Old Tariff-Cutting
TweetNov. 30, 2019 — The “bicycle theory” used to be a metaphor for international trade policy. Just as standing still on a bicycle is not an option — one has to keep moving forward or else the bike will fall over – so it was said that international trade negotiators must continue to engage in successive rounds of liberalization, or else the open global trading system would be pulled down by protectionist interests. I don’t know if the...
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Weaponization of the Dollar May Backfire Yet
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Jeffrey Frankel's Blog 1970-01-01 00:00:00
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It’s Finally Time for German Fiscal Stimulus
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Median income flattens
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RMB reaches 7.0; US names China a manipulator
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Parallel to US-China trade war, Japan & Korea fall out
Global Economic Intersection
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Inflationary Angst
Posted on 08 December 2019 by John Mauldin, Thoughts from the Frontline According to the dictionary, the word angst refers to “a feeling of deep anxiety or dread, typically an unfocused one about the human condition or the state of the world in general." It comes from a German word for “fear."Please share this article - Go to very top of page, right hand side, for social media buttons.Two weeks ago I referred back to my 2017 Angst...
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Very Small Firms Losing Jobs Again
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Veblen And Freud On Instincts
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Which PMI Is Right?
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Historians, Avoid The Mistakes We Economists Made!
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BEA Revises Third Quarter 2019 GDP Growth Upward To 2.13%
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Muddling For Solutions
FT Alphaville
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Further reading
Elsewhere on Tuesday:-- The man who waged war on inflation.-- Inside a German scandal.-- China’s central bank to test digital currency.-- On September’s stress in repo markets.-- Warren discloses consultant earnings.-- A student on trial in Moscow.-- Electric air taxis.-- Emails from political parties.-- Uber’s “academic research” program....
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Neoliberalism: pernicious ideology or vacuous insult?
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State-backed crypto is a contradiction
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Further reading
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Treating stablecoins like ETFs
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Thoughts for the weekend
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Tesla is worth $10, $250 or $500
Economonitor
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Trying to make sense of Mr. Trump’s tweet on Brazil and Argentina
Accusation of exchange rate manipulation doesn't make sense. Neither suspending the agreement at play. We started the week with President Trump accusing, via Twitter, Brazil and Argentina of currency manipulation and unfair competition with farmers in his country. In response, he would reestablish full tariffs on steel and aluminum exported from both countries to the US market. At the time of this writing, nothing concrete has yet been...
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The US-China Trade War Is Accelerating China’s Rebalancing
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The IMF, Argentina and Ecuador: Have Lessons Been Learned?
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Kuwait’s Frustrating Socio-Economic Transformation
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Turning Promises into Reality
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Latin America Is Not Benefiting from the U.S.-China Trade War
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The IMF needs a bridge-builder at the helm – that’s what it looks set to get
Donald Marron
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Remembering My Dad, Donald Marron, 1934 – 2019
My dad died unexpectedly last Friday. He lived a remarkable, generous life. Obituaries in Bloomberg, NYT, and WSJ give a taste of his success in business, charity, and the arts. He was truly a self-made man. Some of my favorite memories, however, are of my dad’s rare failures. His unsuccessful effort to hurdle my sister’s cello during a game of chase. That time we got ejected from Yankee Stadium for throwing paper airplanes. The one and only...
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Should Congress Use The Income Tax To Discourage Consumer Drug Ads?
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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
Cyril Morong: Dangerous Economist
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Are some blue jeans really Deomcratic and others Republican?
Like Wrangler and Levi’s, more and more brands have become associated with Republicans or Democrats See Are Your Jeans Red or Blue? Shopping America’s Partisan Divide by Suzanne Kapner and Dante Chinni of The WSJ.Tastes and preferences are factors that we say affect demand in economics (that is, when tastes change the demand line shifts to the right or left). But we don't spend much time talking about where tastes come from or why they...
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Cost of This Year’s Thanksgiving Meal
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More employers offer workers help paying off student loans
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The percentage of 25-54 year-olds employed rose in October
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Is There Economic And Political Meaning In “The Wizard of Oz?”
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How Odysseus Started The Industrial Revolution
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Using Reggae to Fight Inflation
Greg Mankiw
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Furman Reviews Banerjee & Duflo
Here. His bottom line: Great book but... when it came to the biggest contemporary hot button issues they left all nuance and care behind to present selective evidence for an overly simplistic narrative that would be comforting to typical progressive reader without challenging any of their preconceptions.
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The Case for Capitalism
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How to Increase Taxes on the Rich (If You Must)
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Why I am now an independent
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Warren’s Medicare for All
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NPR on The Pigou Club
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Which Harvard students are least comfortable expressing their opinions?
Ben Bernanke
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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?
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
Free Exchange Economist
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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
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Is there a wage growth puzzle in America?
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The Nobel in economics rewards a pioneer of “nudges”
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Podcast: Goodbye, Benito
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Jared Bernstein: On the economy
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The media cannot reform itself until it acknowledges its power
As regular readers know, I have for the last few years been banging on about the importance of the media in influencing public opinion. (It formed a key part of my SPERI/News Statesman prize lecture.) It is not a partisan point about whether the media is politically biased in a particular direction. Instead it is a claim that the media can and sometimes is profoundly important in influencing major political events. I think it is fair to say...
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How Brexit will constrain a future Labour government
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Is a flexible labour market a problem for central bankers?
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Brexit and Democracy
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The UK slowdown is a result of Brexit and austerity
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Why Owen Jones is wrong about Brexit
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Lexit
Josh Hendrickson: Everyday Economist
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On Drawing the Wrong Lessons from Theory: The Natural Rate of Unemployment
Economic theory is important. Theory provides discipline. Economists write down a set of assumptions and follow those assumptions to their logical conclusions. The validity of a particular theory is then tested against observed data. Modern economic theory is often mathematical, but theory comes in a variety of forms. Sometimes theory is used to develop and test specific empirical predictions. Other times, economic theory acts as a type of...
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On Exhaustible Resources, Part 2
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On Exhaustible Resources
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A Simple Lesson About Money and Models
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Macro Musings
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Updates
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Monetary Policy as a Jobs Guarantee
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%
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Peterson Institute
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The media cannot reform itself until it acknowledges its power
As regular readers know, I have for the last few years been banging on about the importance of the media in influencing public opinion. (It formed a key part of my SPERI/News Statesman prize lecture.) It is not a partisan point about whether the media is politically biased in a particular direction. Instead it is a claim that the media can and sometimes is profoundly important in influencing major political events. I think it is fair to say...
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How Brexit will constrain a future Labour government
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Is a flexible labour market a problem for central bankers?
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Brexit and Democracy
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The UK slowdown is a result of Brexit and austerity
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Why Owen Jones is wrong about Brexit
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Lexit
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Telegraph Blog
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The media cannot reform itself until it acknowledges its power
As regular readers know, I have for the last few years been banging on about the importance of the media in influencing public opinion. (It formed a key part of my SPERI/News Statesman prize lecture.) It is not a partisan point about whether the media is politically biased in a particular direction. Instead it is a claim that the media can and sometimes is profoundly important in influencing major political events. I think it is fair to say...
Read more » -
How Brexit will constrain a future Labour government
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Is a flexible labour market a problem for central bankers?
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Brexit and Democracy
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The UK slowdown is a result of Brexit and austerity
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Why Owen Jones is wrong about Brexit
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Lexit