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Global Economic Intersection

The Decline Of African-American And Hispanic Wealth Since The Great Recession

posted on 14 January 2019 from Voxeu.org -- this post authored by Edward Wolfe, New York UniversityUnlike income inequality, wealth inequality along racial lines in the US has received relatively little attention. This column presents new evidence on the changing landscape of relative wealth among whites, blacks, and Hispanics between 1983 and 2016. Using an augmented measure of wealth, it highlights how cuts to social security will disproportionately affect minorities.Please share...

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Something Wicked This Way Comes

posted on 13 January 2019 by John Mauldin, Thoughts from the Frontline For a couple of years now, the economic narrative has shown a comparatively strong US against weakness in Europe and some of Asia (NOT China). The US, we are told, will stay on top. I agree with that, as far as it goes... but I’m not convinced the “top" will be so great.Please share this article - Go to very top of page, right hand side, for social media buttons.Americans like to think we are insulated from the...

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Gunnar Myrdal’s Monetary Equilibrium Theory: A Summarized Version

Please share this article - Go to very top of page, right hand side, for social media buttons.Tobon lays out a nice clear series of conditions that must be met for monetary equilibrium to occur in Wicksell’s theory:Or, in English:Wicksell’s monetary equilibrium is defined by three fundamental conditions: 1) the equality between the money interest rate im and the natural interest rate in, 2) the equality between investment I and savings S, and 3) the stability of the general level of prices,...

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Does The December Labor Report Change The Outlook?

posted on 09 January 2019 by UPFINA UPFINA Article of the WeekIn this article we will detail the December BLS labor report, explain why it caused stocks to go up 3.43% on January 4th, and why a recession may not be coming soon.Please share this article - Go to very top of page, right hand side, for social media buttons.There was a panic at the end of 2018 as investors feared a recession because of the flattening yield curve, hawkish Fed, trade war with China, global economic...

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Partisan Professionals: Evidence From Credit Rating Analysts

posted on 07 January 2019 from Voxeu.org -- this post authored by Elisabeth Kempf, University of Chicago and Margarita Tsoutsoura, Cornell University Partisanship in the US is on the rise. With growing disagreement across voters of different political parties on key issues, understanding the potential implications of this trend for the US economy is of first-order importance. This column examines the degree to which partisan ideology affects the decisions of financial analysts....

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The Year Of Living Dangerously

posted on 06 January 2019 by John Mauldin, Thoughts from the Frontline Double, double, toil and trouble;Fire burn and cauldron bubble....By the pricking of my thumbs,Something wicked this way comes... - William Shakespeare, Macbeth, Act IV, Scene I, 1606Please share this article - Go to very top of page, right hand side, for social media buttons.Remember when it was a January ritual to fill in the new year on your blank checks? If you're under 50, probably not. That we can...

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Did Global QE End In 2018?

posted on 05 January 2019 by UPFINA Weekend Reading from UPFINAEditor's note: This was written 05 August 2018 with the title "Global QE Ends In 2018".The biggest story in the financial markets in the next 12 months is the shift in global monetary policy away from being accommodative as central bankers taper and, in the Fed’s case, shrink their balance sheet.Please share this article - Go to very top of page, right hand side, for social media buttons.The chart below shows an estimate...

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Gunnar Myrdal’s Prescient Criticisms Of Keynes’ General Theory

posted on 03 January 2019 by Philip Pilkington Fixing the Economists Article of the WeekIn my post on the Austrian Business Cycle Theory Jan, a regular commenter on Lord Keynes’ blog, once again brought up the Stockholm School of economics. He has been doing this on Lord Keynes’ blog for as long as I can remember and there has so far never been a proper discussion.Please share this article - Go to very top of page, right hand side, for social media buttons.What was the Stockholm...

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Subsidized Employment: Two Randomized US Studies

posted on 01 January 2019 by Timothy Taylor, Conversable Economist In certain locations and among certain groups, participation in the labor force is low. Can government-subsidized transitional jobs offer a method of getting more people connected to the labor force, in a way that persists after the government support is withdrawn or the transitional job comes to an end?Please share this article - Go to very top of page, right hand side, for social media buttons.A couple of years ago,...

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New EBook: Brexit Beckons

posted on 28 December 2018 by Richard Baldwin -- Appeared at Voxeu.org 27 November 2018The 23 June 2016 Brexit vote saw British voters reject membership in the European Union. This column, which was first published in August 2016, introduces a VoxEUeBook containing 19 essays written by leading economists on a wide array of topics and from a broad range of perspectives.Please share this article - Go to very top of page, right hand side, for social media buttons.Editor's note: This...

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