Leaders
Mark Thoma: Economist View
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Links for 08-18-17
Trump’s CEOs resigned. His staff should do the same. - Larry Summers Alfred Crosby Deserves a Nobel Prize in Economics - Douglas Campbell Fed Confronts New Reality: Low Inflation and Low Unemployment - NYTimes FOMC Minutes: Balance Sheet Normalization "Relatively soon" - Calculated Risk I Agree With Robert E Lee - EconoSpeak Online exports and the wage gap - VoxEU Centrism: the problem, not the solution - Stumbling and Mumbling...
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Paul Krugman: Trump Makes Caligula Look Pretty Good
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Links for 08-16-17
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Fed Watch: Retail Sales, Dudley, Wages
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Fed Shouldn’t View Productivity as an Exogenous Factor
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Do Low Interest Rates Punish Savers?
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Links for 08-15-17
Paul Krugman
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The Political Failure of Trickle-Down Economics
Tomorrow’s column is in part about the political failure of Trumpcare, which was — despite all those populist noises during the campaign — a case of trickle-down economics on steroids: huge benefit cuts for lower- and middle-income families, to provide huge tax cuts for a tiny minority. But was that failure really so exceptional? We tend to think of the period since Reagan’s election as a conservative era; even though Republicans controlled...
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Friday Night Music: Warpaint, Elephants
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Friday Night Music: Sarah Jarosz Does Prince
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How Bad Will It Be If We Hit The Debt Ceiling?
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Friday Night Music: I’m With Her At Beacon Theater
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Structural Unemployment: Yes, It Was Humbug
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Heritage On Health, 1989
S. Sumner: Money Illusion
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Josh Hendrickson on IOR and demand for bank reserves
Josh Hendrickson has an important new (forthcoming) paper in the Journal of Macroeconomics. Here’s the abstract: Over the last several years, the Federal Reserve has conducted a series of large scale asset purchases. The effectiveness of these purchases is dependent on the monetary transmission mechanism. Former Federal Reserve chairman Ben Bernanke argued that large scale asset purchases are effective because they induce portfolio...
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Don’t let Trump be Trump
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Slippery slope arguments
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Was the zero bound holding back the Fed during 2009-15?
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The labor market will recover, with or without the Fed
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Is it just my imagination . . .
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All hail Donald Trump
Noah Smith
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“Theory vs. Data” in statistics too
Via Brad DeLong -- still my favorite blogger after all these years -- I stumbled on this very interesting essay from 2001, by statistician Leo Breiman. Breiman basically says that statisticians should do less modeling and more machine learning. The essay has several responses from statisticians of a more orthodox persuasion, including the great David Cox (whom every economist should know). Obviously, the world has changed a lot since 2001 --...
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Why did Europe lose the Crusades?
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Noah Smackdown, illegal immigration edition
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Is economics a science?
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Summing up my thoughts on macroeconomics
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The Shouting Class
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The NIMBY challenge
Project Syndicate
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China’s Renewable-Energy Revolution
BEIJING – At the start of 2017, China announced that it would invest $360 billion in renewable energy by 2020 and scrap plans to build 85 coal-fired power plants. In March, Chinese authorities reported that the country was already exceeding official targets for energy efficiency, carbon intensity, and the share of clean energy sources. And just last month, China’s energy regulator, the National Energy Administration, rolled out new measures to...
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The Guardian of the Liberal World Order
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The Clash of the Data Titans
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Engineering Better Refugee Health Care
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A Development Investment for the Ages
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A Development Investment for the Ages
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Media Capture in the Digital Age
Cyril Morong: Dangerous Economist
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Do Recessions Really Help People Live Longer, Healthier Lives?
Debate continues with new research looking at migration effects in historical case studiesSee By Ben Leubsdorf of The WSJ. "A new round has opened in the debate over whether recessions are good or bad for public health. Some researchers have found that death rates fall during recessions. But a new study argues such findings may be distorted by migration, as people move away from places that have fallen on hard times and flock to places...
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The preference for partners of the same education has significantly increased for white individuals
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Sad story: liberal newspaper columnist gets hate mail for suggesting that government regulations can have unwanted and unintended consequences
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New Zealand sheep farmers turn to cattle as the world price of milk rises
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Should you invest according to religious guidelines?
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Data show that socially responsible investments can outperform the S&P 500 index
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What Econ 101 Can Teach Us About Artificial Intelligence
Miles Corak: Economics for public policy
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The Canada Child Benefit is an important innovation in cash benefits to families with children
Tags child poverty, National Academies of Sciences Engineering Medicine The Canada Child Benefit is an important innovation in cash benefits to families with children July 1, 2017 The Canada Child Benefit offers a policy option that the United States should consider in pursuing a goal to reduce child poverty by half. The commitment to address child poverty has waxed and waned in Canada since an all-party...
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Poor children are twice as likely to grow up to be poor adults in some Canadian communities than in others
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I have a new job, and if you want to know more read this post
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Tony Atkinson has died
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I’ve been blogging for five years, and here are my 10 favourite posts
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Can you change your mind about inequality? Read my just published paper
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How The Great Gatsby Curve got its name
Dani Rodrik’s weblog
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What’s Wrong With Our System Of Global Trade And Finance?
That is what John Judis wanted to talk to me about, and we did. This over at TPM is what came out. By the way, Judis' book on populism is great. It makes an important distinction between right-wing and left-wing populism, a distinction that I have used as well.
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Why Did So Many Cheer Turkey’s Democracy While It Was Dying?
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Prudential regulation, capital controls, and second-best
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Trade, redistribution, and social dumping
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Dismal thoughts about the Turkish referendum
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Ariel Rubinstein on Economics Rules
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A Foreword to Kari Polanyi Levitt
Global Economic Intersection
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Exploring Inequality: Real Wages and Productivity Growth
By Philip Pilkington I recently had an argument with a few New Keynesian types in the comments section of Lars Syll’s blog. I won’t get into the nuances here as they are not very interesting. Basically the New Keynesians were trying to defend the idea that, in the long-run, wages are indeed flexible. The argument went nowhere partially, I think, because they misunderstood what the phrase “wages are flexible in the long-run” means. Follow up:...
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The Global Energy Transition: Will Renewables Save Us?
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What I Learned at (Economics) Summer Camp
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Fighting Colony Collapse Disorder: How Beekeepers Make More Bees
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Why Sraffa’s Theory Does Not Contain a Labour Theory of Value
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Technological Change – Nobody Really Knows What Is Coming
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US Public Firm Agonistes
Casey Mulligan: Supply and Demand
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How many people get insurance through SHOP?
Pursuant to the Affordable Care Act, the SHOP Marketplace (Small Business Health Options Program) was created to provide qualified employers with lower costs on group plans and claim tax credits.Four sources indicate the extent of enrollment in Small Business Health Options Program marketplaces. First, the Centers for Medicare and Medicaid Services blog has occasionally reported on enrollment through the healthcare.gov portal, which applies...
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Employer Penalty Amount Finalized
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Which people were rescued from Communism by military conflict?
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Machine proves Paul Krugman wrong about the recession
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Tax Reform on TV
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Who wrote this?
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Puerto Rico – Cuba comparison
Bradley A. Hansen’s Blog
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Steinbaum on Public Choice
Marshall Steinbaum has published a sort of review of NancyMacLean's Democracy in Chains in which describes “the racist origins of Public Choice theory” and suggests that everyone should read Democracy in Chains “despite its rhetorical shortcomings.” Steinbaum seems unquestioningly accept MacLean’s claim that Buchanan’s “study of how government officials make decisions became “public choice economics.”” (MacLean xxiii) In making public...
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Trust Company Failures and Institutional Change in New York, 1875-1925
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Some recent history and economic history
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The Importance of Honesty in Historical Research
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Internet Videos and Economic History
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Nebraska, The Good Life
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The Golden Age of Economic History?
Managerial Econ
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Germany’s North-South divide
The latest evidence about the superiority of markets (over government planning) seems to come from Germany, people go to better schools, get jobs more easily, earn more and live longer to enjoy it. Crime is also lower. I say "seems to" because inferring causality from correlation is notoriously difficult. In 1960 Bavaria was the poorest part of West Germany. Like its neighbours, it lacked natural resources and had to find work...
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Fake Eclipse Sunglasses
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Sheldon Chooses a Console
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Game theory applied to extreme view protests
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The Dark Side of Incentive Pay?
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Managerial Econ 2017-08-13 00:10:41
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Non-Standard Real Estate Commissions
Donald Marron
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The 3-2-1 on Economic Growth: Hope for 3, Plan for 2, Pray it isn’t 1
How fast will the US economy grow? When mainstream forecasters consult their crystal balls, they typically see real economic growth around 2 percent annually over the next decade. The Congressional Budget Office (CBO) and midpoint estimates of Federal Reserve officials and private forecasters cluster in that neighborhood. When President Trump looks in his glowing orb, he sees a happier answer: 3 percent. That percentage point difference is a...
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Outside Research Organizations Can’t Replace CBO’s Budget Team
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Can Trump Make Mexico Pay for the Wall?
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Taxing carried interest just right
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Britain Builds a Better Soda Tax
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Budgeting for Federal Lending Programs Is Still a Mess
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How Should We Use the Revenue from Taxing Carbon?
David Flynn: Barter is Evil
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Why population?
The three frequent readers of my blog over the last several months probably noticed a repeating theme to my posts: population. A logical question to ask would be, why this focus? Quite frankly, and this is my opinion, population is the root of economic activity and the very economic actors we attempt to model. There is another perspective as well and that is policy. From a policy perspective, and I am thinking quite specifically about North...
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Pensions & Mortality
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Limits to examples
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Posting can resume
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Policy Paralysis
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Challenges for North Dakota, pt. 1
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Baseball Trivia Question
Josh Hendrickson: Everyday Economist
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Free Banking and the Friedman Rule
Imagine that there are two types of people in the world — recognizable and unrecognizable. Recognizable people can develop reputations, which can have either positive or negative effects. If a recognizable person develops a reputation for being trustworthy, then he or she will likely be able to issue debt to finance the purchase of goods and services. If the person is not trustworthy, but is easily recognized, then he or she will not be able...
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Some Myths About Interest on Reserves
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The Bullionist Controversy
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On Why It is Important to Distinguish Between Consumption and Expenditures When Testing the Permanent Income Hypothesis
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Are Helicopter Drops a Fiscal Operation?
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Money and Banking
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Reasoning from Interest Rates
Leisure of the Theory Class
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Medawar’s Test
Medawar’s Test July 24, 2017 in academic pedigree, equilibria, Uncategorized There is a test for `smarts’ that Sir Peter Medawar was fond of. I often think of it when teaching equilibrium. If you have ever seen an El Greco, you will notice that the figures and faces are excessively elongated. Here is an example.The eye surgeon Patrick Trevor-Roper, brother to the historian Hugh offered an explanation. Readers of certain vintage will...
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Russian Meddling, Fake News & Lemons
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CS Referencing Conventions
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In My Mailbox Today
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Suicide Lotteries
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Trump and the 25th Amendment
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Mutual knowledge and Trump’s new clothes
Timothy Taylor: Conversable Economist
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Blockchain: New Frontiers
Blockchain is a technology that offers reliable by decentralized record-keeping. The best-known applications of "blockchain" technology are still the alternative currencies, of which Bitcoin remains most prominent. But it looks more and more as if the main near-term expansions of blockchain technology are not going to be about currencies, but instead relate to other kinds of ownership, transactions, and record-keeping. A couple of...
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Autonomous Cars: Altering One in Nine Jobs
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Adam Smith: The Plight of the Impartial Spectator in Times of Faction
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Misallocation and Productivity: International Perspective
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NAFTA in a Multipolar World Economy
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The US Fiscal Outlook
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William Playfair: Inventor of the Bar Graph, Line Graph, and Pie Chart
Econbrowser
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Killing the Messenger (on Climate)
From WaPo today: The Trump administration has decided to disband the federal advisory panel for the National Climate Assessment, a group aimed at helping policymakers and private-sector officials incorporate the government’s climate analysis into long-term planning. The charter for the 15-person Advisory Committee for the Sustained National Climate Assessment — which includes academics as well as local officials and corporate representatives...
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Wisconsin Employment below April Levels, Minnesota Surges
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Not Foxconn in the Henhouse
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12-Month Global Temperature Anomaly, July 2017
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Draft Report on Climate Change
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Growth Expectations Pre- and Post-Election
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Asset Prices and Economic Policy Uncertainty, Post-Election
Tim Harford: Undercover Economist
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What underrated idea or invention most shaped the modern economy?
What underrated idea or invention most shaped the modern economy? It’s been such fun working on the radio series and book Fifty Things That Made the Modern Economy – but one of the frustrations was all the fascinating ideas, inventions and stories that I couldn’t squeeze into the book. I get another bite of the cherry now: the BBC is inviting suggestions for a special episode: one more thing that shaped the economic forces that surround...
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Challenge is all too easily ducked by today’s knowledge workers
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Remembering the holocaust
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Think like a supermodel if you want to win from the gig economy
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Fantasy gaming can be better than reality
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We are still waiting for the robot revolution
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Why we need to build more homes
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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Gender quotas and the crisis of the mediocre man
More than 100 countries have a gender quota, or an effort to increase gender equality and representation, in their political system. Many opponents of gender quotas argue that women elected via quotas are not always the most qualified candidates; the quotas may displace qualified men; and the quotas are not compatible with meritocratic principles and incentives. However, despite the years of debate, exactly how gender quotas affect the...
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Opportunity and access: how legal work status affects immigrant crime rates
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Does arbitrage always improve market efficiency? Theory and evidence from sequential markets for electricity
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Charter schools do more than teach to the test: evidence from Boston
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Health insurance competition: effects on premiums, hospital rates, and welfare
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A most egalitarian profession: pharmacy and the evolution of a family-friendly occupation
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How tax rates influence the migration of superstar inventors
Carola Binder: Quantitative Ease
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The Low Misery Dilemma
The other day, Tim Duy tweeted: I expect the FOMC minutes to reveal that some participants were concerned about low inflation while others focused on low unemployment. — Tim Duy (@TimDuy) August 16, 2017 It took me a moment--and I'd guess I'm not alone--to even recognize how remarkable this is. The New York Times ran an article with the headline "Fed Officials Confront New Reality: Low Inflation and Low Unemployment." Confront, not...
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Macro in the Econ Major and at Liberal Arts Colleges
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Labor Market Conditions Index Discontinued
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The Obesity Code and Economists as General Practitioners
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New Publication: Measuring Uncertainty Based on Rounding
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Do Socially Responsible Investors Have It All Wrong?
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Low Inflation at “Essentially Full Employment”
Economonitor
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A New Banking Crisis?
Bad Numbers Today, there are over $3 trillion in stressed loan assets, compared to around $1 trillion of US sub-prime loans which was the catalyst for the 2008/2009 crisis. The World Bank estimates the ratio of non-performing loans (“NPLs”) to total gross loans is comparable the 2009 levels of 4.2% in 2009. Several loci of ...
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John Maynard Keynes and Effective Macroeconomic Policy
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Can Uganda Step Up to New Economic Challenges?
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New Pragmatism: Economics and Economic Policy for the Future
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Transformative Changes in World Energy Production and Trade
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Matchmaking Finance and Infrastructure
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Turkey: Lower Reserves and Higher Rates, but Market Turmoil Is Unlikely
Offsetting Behaviour
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The Outside of the Asylum
The Spinoff's syndication of The Outside of the Asylum started on Saturday, with Joe Bennett's foreword, and the introduction.A snippet: On arriving in Christchurch for my job interview with the Economics Department at the University of Canterbury, Associate Professor Jeremy Clark took me for a drive around Port Hills. Driving on roads that would have sent council lawyers in America into apoplexies over the lack of guardrails (and over the...
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More evidence on the J-curve
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The Outside of the Asylum
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Trailblazing to the Outside of the Asylum
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There are no answers only tradeoffs
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Overseas Companies
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Don’t be a player hater
T. Cowen: Marginal Revolution
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Those new service sector jobs
Plastic surgeons who give you Vulcan and elfin-like ears: Of course, looking naturally elflike is not everyone’s goal. Luis Padron, 25, who owns a cosplay business in Argentina, said he has spent over $35,000 in surgeries and procedures including skin lightening, nose surgery and hair removal for his sylvan shape-shifting. His look has been influenced by Katherine Cardona, a contemporary illustrator specializing in fairies, and Sakimichan, a...
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Who should be shamed, and who not?
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Sunday assorted links
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Cancer, Herpes, Metformin and the FDA
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Germany fact of the day, the growing north-south divide
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A web site in honor of UCLA economist Earl Thompson
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Saturday assorted links
Jared Bernstein: On the economy
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Quick note on inflation, exchange rates, and wages
A few weeks back, I did some simple modelling of the impact of the weakening dollar on US inflation, suggesting it would boost price growth a bit, but was nothing to get wound up about. And, of course, a little more inflation would be welcomed. Researchers at Goldman Sachs took an interesting, deeper dive into this question (no link). They came up with the same qualitative answer—a modest bump, not a big increase. In fact, they show that the...
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Remember Tax “Reform” (i.e. cuts)?
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Are trade deficits good or bad? It depends!
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An important fact check on manufacturing value-added and employment
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A few words on Charlottesville
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Corp tax cuts and the middle class: they’re not that into each other
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The usually great Catherine Rampell unconvincingly objects to two improved labor standards
Simon Wren-Lewis
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Brexit remains an exercise in deception
I talkedlast week about how the Leave campaign involved lies at its centre. Not the occasional exaggerations of the Remain campaign, but claiming things that were the opposite of the truth. Like there will be more money for the NHS, when in fact there will be less. That particular lie probably swung the result, accordingto the man we organised the Leave campaign. Labour people tell me that public opinion on Brexit will turn once these lies...
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Japan and the burden of government debt
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What does respecting the referendum result mean?
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How did the UK austerity mistake happen
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The politics of lying
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Real wages are mainly a macro issue
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The media cannot reform itself until it acknowledges its power
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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Podcast: Goodbye, Benito
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Podcast: Vorsprung durch Angst
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Podcast: Vorsprung durch Angst
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Podcast: The Italian bailout job
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Podcast: The Italian bailout job
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Podcast: A poison chalice for GE’s new boss
Worthwhile Canadian Initiative
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Thinking about Costs and Benefits of Immigration
I find this a useful way to organise my thoughts about the costs and benefits of immigration. It may work for you too. I start out with a neutral benchmark, where immigration has neither costs nor benefits for the original population. Then I think of different ways in which that neutral benchmark could be wrong. This post is just a list (no doubt incomplete) of things that might create costs or benefits from immigration. I make no attempt to...
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Balancing Ontario’s Budget…In 1875
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Upward-sloping Demand curves for Labour and Housing
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Hysteresis vs Full Recovery by creating a Boom?
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Overselling faded dreams?
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Where did all the immigrants go? A fascinating puzzle with a mundane solution.
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Monetary Policy for a central bank with no balance sheet
Miles Kimball
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Larry Kotlikoff: Any More North Korean Missile Launches Should Be Considered an Act of War Against the United States
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The Unmaking
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David L. Hudson Jr.: Does Freedom of Speech Apply to Government Employees?
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Binyamin Appelbaum on Anat Admati: When She Talks, Banks Shudder
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When the Output Gap is Zero, But Inflation is Below Target
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Benjamin J. McMichael: Looking Beyond Doctors for Access to Care
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Binyamin Applebaum: Fewer Immigrants Mean More Jobs? Not So, Economists Say
FT Alphaville
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Thought for the weekend
Yo! I’m back at 80%, super pumped … we’ve got to start calling Elon on his S**t. I’m not on social media but let’s start “faketesla” and start giving physics lessons about stupid s**t Elon says like this: “we do not anticipate using lidar. Just to make it clear, lidar essentially is active photon generation in the visible spectrum — radar is active photon generation in essentially the radio spectrum. But lidar doesn’t penetrate intrusions so...
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Goldman’s foray into cryptocurrency
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The ‘finance franchise’ and fintech (Part 2)
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The ‘finance franchise’ and fintech (Part 1)
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Some curious securities lending activity from Microsoft
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Evolution
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Markets Live: Friday, 18th August, 2017
Greg Mankiw
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Macro Musings
You can hear me interviewed by David Beckworth here.
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Why Health Policy is Hard
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Does this make my Hamilton tickets a deductible business expense?
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CEA Chairs on Steel Tariffs
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Report from the NFF
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Hamilton Tickets Redux
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Advice for Young Economists
John Cochrane’s blog
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On Climate Change
David Henderson and I wade in to perilous waters in the July 31 Wall Street Journal. We try to stake out a different and more productive conversation than the usual shouting match between alarmists and deniers.Climate change is often misunderstood as a package deal: If global warming is “real,” both sides of the debate seem ...
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Thornton on interest rate humility
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Ray of hope update
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A ray of health insurance hope
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Free market health care?
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What’s good about economics (sometimes)
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Pollyanna
Peterson Institute
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Are Stock Valuations Overstretched?
With stock indices close to all-time highs and unprecedented monetary stimulus in recent years, it is reasonable to ask whether the US economy has reached a potentially dangerous phase of excessive financial exuberance and of overvaluation in the stock market in particular. In February Yale economist Robert J. Shiller, author of the book Irrational Exuberance, advised investors to reduce their equity exposure, arguing that stock valuations...
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Make in India: Tax Reform as Job Creation
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Tempered Ambitions on US Tax Reform
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PIIE Is Now on Instagram
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The Fed Takes a Summer Vacation
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An Aging Population Explains Most—But Not All—of the Decline in the US Labor Force Participation Rate Since 2007
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The IMF’s New Role in Greece Proves Its Value for Europe and the United States
Ben Bernanke at Brookings
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When growth is not enough
By Ben S. BernankeHere is the text of my prepared remarks (“When Growth Is Not Enough”) for the European Central Bank Forum on Central Banking at Sintra on “Investment and growth in advanced economies.” Read my full remarks here.
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Some reflections on Japanese monetary policy
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The zero lower bound on interest rates: How should the Fed respond?
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How big a problem is the zero lower bound on interest rates?
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Why Dodd-Frank’s orderly liquidation authority should be preserved
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Shrinking the Fed’s balance sheet
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The Fed and fiscal policy
David Andolfatto: Macro Mania
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A monetary-fiscal theory of inflation
On December 17, 2015, the FOMC has raised its policy rate (IOER) from 25bp to 50bp. It has since raised the IOER rate three more times to 1.25%. Many on the committee seem convinced that further rate hikes are needed (in addition to actions designed to shrink the Fed's balance sheet, which is already shrinking relative to the size of the economy). What is the source of this enthusiasm for monetary policy tightening, given that the unemployment...
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Where’s the inflation?
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The St. Louis Fed’s Macroeconomic Outlook
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Sectoral and Occupational Trends in the U.S. Labor Market
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Fiscal over monetary policy?
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A reply to Lawrence White
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A public finance case for keeping the Fed’s balance sheet large
Macro and Other Market Musings
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Assorted Musings
Some Assorted Musings: 1. I have a new policy brief at the Mercatus Center that makes the case for a Nominal GDP level target from the knowledge problem perspective. It is a non-technical paper meant to be accessible by policy makers and lay people. It echoes some of the more technical arguments made in this paper by Josh Hendrickson and myself. 2. George Selgin testified this week before the House Financial Services Committee as part...
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An Alternative to Raising the Inflation Target
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Monetary Disequilibrium
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Musings on June’s FOMC Meeting
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Is the United States Becoming Less of an Optimal Currency Area?
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China vs the Trilemma, Price Level Path, Balance Sheet Confusion, and FOMC Debates
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Bad Optics: the Fed’s Balance Sheet Edition
John B. Taylor
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Still Learning From Milton Friedman: Version 3.0
We can still learn much from Milton Friedman, as we celebrate his 105th birthday today. Here I consider what we can learn from his participation in the monetary policy debates in the 1960s and 1970s. I draw from a 2002 paper that I presented to lead off his 90th birthday celebration in Chicago in 2002 and from two 2012 pieces: a paper I presented at the centennial of his birth in 2012 and an article written on his 100th birthday in 2012.The...
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Debate Over the Very Principles of Economics
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Economics 1 Online. No Charge.
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A Whole New Section on Policy Rules in Fed’s Report
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Seeing Through the Fog of Federal Budget Forecasting
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Macro Model Comparison Research Takes Off
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Reserve Balances and the Fed’s Balance Sheet in the Future
Roger Farmer’s Economic Window
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Do Low Interest Rates Punish Savers?
This is the second of my posts on the conference: Applications of Behavioural Economics, and Multiple Equilibrium Models to Macroeconomic Policy, held at the Bank of England on July 3rd and 4th. I feature two papers written by officials from the Federal Reserve System. James Bullard, President of the Federal Reserve Bank of St. Louis, discusses the ...
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What is Keynesian Search Theory?
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The Marriage of Psychology with Multiple Equilibria in Economics
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Post-Keynesians and New-Keynesians: A Lesson From Evolutionary Biology
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The Liberal Conscience (Bertrand Russell Edition)
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David and Goliath: The sunspot agenda meets the MIT machine
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Cách Nên Kinh Tê Vân Hành
Jeffrey Frankel’s Blog
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The Sugar Swamp
(June 25, 2017) As the US, Mexico and Canada get ready to begin talks on the re-negotiation of NAFTA – possibly as early as August – governments are giving a lot of attention to one particular product: sugar. The outcome will predictably be a sweet deal for the US sugar industry, quite the opposite of Trump promises to “drain the swamp” of disproportionate influence in Washington by special interests. It’s an old story, in the US as in...
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The Case against Subsidizing Housing Debt
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How to Re-Negotiate NAFTA
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Mnuchin and Manipulation of Money
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Let the US Fiduciary Rule Go Ahead
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Let the US Fiduciary Rule Go Ahead
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Looking Back on Barack
Brad Delong, Berkeley
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Should-Read: Tim Worstall: The Robots Stealing Human Jobs-Bring It On
Should-Read: Tim Worstall: The Robots Stealing Human Jobs-Bring It On: “Spinning especially was a hugely labour intensive process which near all women did to some extent… https://www.forbes.com/sites/timworstall/2017/08/19/the-robots-stealing-human-jobs-bring-it-on/#524f81a421ff …Thus that very word, homespun. By the time the Spinning Jenny got into its stride, as Henderson says, hundreds of thousands were employed in industry, outside the...
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Data Management, Analysis, and Presentation Skills Are to the 21st Century What Writing in a Chancery Hand Was to the 13th: Hoisted from Various Archives
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Should-Read: John Holbo: Thinking About Groups
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Must-Watch: Jacob T. Levy: Rationalism, Pluralism, and Freedom
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Should-Read: Claudia Sahm: On Twitter: “And yes, Marginal Revolution commenters have got EJMR’ers back…
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Should-Read: Kevin Williamson (May 3, 2016): Pre-planning my ‘I Told You So’
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Must: Justin Wolfers: Evidence of a Toxic Environment for Women in Economics
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
