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The author Mark Thoma
Mark Thoma
Mark Allen Thoma (born December 15, 1956) is a macroeconomist and econometrician and a Professor of Economics at the Department of Economics of the University of Oregon. Thoma is best known as a regular columnist for The Fiscal Times through his blog "Economist's View", which Paul Krugman called "the best place by far to keep up with the latest in economic discourse", and as an analyst at CBS MoneyWatch. He is also a regular contributor to EconoMonitor.

Mark Thoma

Why Scrapping NAFTA Would be Trump’s Big Gift to China

Larry Summers: Why scrapping NAFTA would be Trump’s big gift to China: I was in Mexico Thursday seeing the Mexican president, foreign minister and finance minister and addressing a convention of bankers. The only subjects anyone is interested is the future of NAFTA and U.S. Mexican relations. I came to Mexico from Beijing, and so I was able to report that there was no greater strategic gift the United States could give China than to abrogate NAFTA and rupture the North American community. ......

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The Saga of Currency Unions and Trade

Douglas Campbell: The Saga of Currency Unions and Trade: One of the first full papers I wrote was on currency unions and trade. I was taking Alan Taylor's field course at UC Davis, which was essentially and Open-Economy Macro History course, and the famous Glick/Rose findings that currency unions double trade was on the syllabus. Not to be outdone, Robert Barro and coauthors then found that currency unions increase trade on a 7-fold and 14-fold basis! This raised the prospect that...

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Paul Krugman: The Scammers, the Scammed and America’s Fate

"The destructive effects of false symmetry in reporting": The Scammers, the Scammed and America’s Fate, by Paul Krugman, NY Times: ...Mr. Ryan’s proposed Obamacare replacement ... is one of the worst bills ever presented to Congress. It would deprive tens of millions of health insurance — the decline in the number of insured Americans would be larger than ... simple repeal of Obamacare! — while sharply raising expenses for many of those who remain. It would be especially punitive...

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Links for 03-24-17

When Britain turned inward - VoxEU Evidence That Regulators Value Profits Over Consumer Welfare - ProMarket Can market based regulation reduce greenhouse gas emissions? - Micro Insights What kind of fiscal policy works best at the ZLB? - Equitable Growth Interview: Prof. Jonathan Portes - AceMaxx Analytics Facts or EconoFacts? - Noahpinion

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Compensation Benchmarking, Leapfrogs, and the Surge in Executive Pay

A follow-up to "Inequality and the Lake Wobegon Effect": Compensation Benchmarking, Leapfrogs, and the Surge in Executive Pay, by Thomas A. DiPrete; Gregory M. Eirich; Matthew Pittinsky, American Journal of Sociology: Abstract: Scholars frequently argue whether the sharp rise in chief executive officer (CEO) pay in recent years is "efficient" or is a consequence of "rent extraction" because of the failure of corporate governance in individual firms. This article...

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Links for 03-23-06

Are There Benefits from Free Trade? - Brad DeLong Review for "Nature" of "A Culture of Growth", by Joel Mokyr - Brad DeLong What Does President Donald Trump Mean for the US Economy? - Brad DeLong Why Medicaid Work Requirements Won’t Work - New York Times Robotization Without Taxation? - Robert J. Shiller Cyclical forces in the global trade slowdown - VoxEU The Need for Very Low Interest Rates - Liberty Street Economic growth and reductions in carbon emissions -...

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Fed Watch: Is Bank Lending A Concern?

Tim Duy: Is Bank Lending A Concern?, by Tim Duy: I have seen some angst recently over declining growth in commercial bank lending. See, for example, the Wall Street Journal: Bank loans across all categories are increasing 4.6% annually, the slowest pace since 2014, according to weekly Fed lending data from March 1. The trend is particularly marked in business loans, which are increasing 3.9% annually, a rate that is a nearly six-year low. A number of factors are at play, including rising...

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What Contract Theory Teaches Us about Regulating Banks

Caterina Lepore, Caspar Siegert, and Quynh-Anh Vo at Bank Underground: What can Nobel-winning contract theory teach us about regulating banks?: The 2016 Nobel Prize in economics has been awarded to Professors Oliver Hart and Bengt Holmström for their contributions to contract theory. The theory offers a wide range of real-life applications, from corporate governance to constitutional laws. And, as the post will hopefully convince you, contract theory is also helpful in regulating...

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Inequality and the Lake Wobegon Effect

From an interview of F. M. Scherer (Professor Emeritus in the John F. Kennedy School of Government at Harvard, and former chief economist at the Federal Trade Commission) at ProMarket: “Our Efforts to Deal With Tech Firms’ Market Dominance in the U.S. Have Been an Abject Failure”: ...Q: The five largest internet and tech companies—Apple, Google, Amazon, Facebook, and Microsoft—have outstanding market share in their markets. Are current antitrust policies and theories able to deal with the...

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