Tuesday , October 17 2017
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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

Is The Fed Setting Itself Up To Fail In The Next Recession?

Tim Duy:   Is The Fed Setting Itself Up To Fail In The Next Recession?: The Federal Reserve remains committed to a December rate hike, persistent low inflation not withstanding. With unemployment below Fed estimates of its longer-run natural rate, most FOMC participants do not need evidence of stronger inflation to justify further rate hikes. Ongoing solid job growth will be sufficient cause for tighter policy, especially in what they perceive to be an environment of loosening...

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Links for 10-16-17

Subsidies, Spite, and Supply Chains - Paul Krugman Lies, Lies, Lies, Lies, Lies, Lies, Lies, Lies, Lies, Lies - Paul Krugman The U.S. Economy and Monetary Policy - Janet Yellen FedViews - FRBSF Has the Wage Phillips Curve Gone Dormant? - FRBSF Figuring out various income inequalities - globalinequality The spread of populism in Western countries - VoxEU The Frontman - Economic Principals The Incidence of the Obamacare Subsidies - EconoSpeak How Neoliberals weaponise the concept of an...

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Paul Krugman: Let Them Eat Paper Towels

"The betrayal and abandonment of three and a half million of our own people": Let Them Eat Paper Towels, by Paul Krugman, NY Times: The situation in Iowa remains horrifying. More than a third of the population has been without clean water for three weeks, and waterborne diseases appear to be spreading. Only a sixth of the population has electricity..., health care system is a shambles, and sheer hunger may be a problem in some remote areas. Fortunately, the federal government is...

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Links for 10-13-17

Rethinking Monetary Policy in a New Normal - Lael Brainard Independent Workers and Policy: Krueger's Moynihan Lecture - Tim Taylor The ubiquitous Spanish dollar—a photo essay - Moneyness Ten years after the crisis: Looking back, looking forward - VoxEU Monetary easing and the Bank of Japan's balance sheet - VoxEU Just how tight is the U.S. labor market? - Equitable Growth Richard Thaler, Nobel laureate - VoxEU The Lost US Lead in Education - Tim Taylor We’re About to Fall...

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Rethinking Macroeconomic Policy

There is a conference on Rethinking Macroeconomic Policy "coordinated by Olivier Blanchard ...and Lawrence H. Summers..." taking place today and tomorrow (wanted to go, but couldn't). "Academic experts and policymakers will address the challenges to macroeconomic thinking and policymaking that today’s economic environment presents–low inflation despite low unemployment, the apparent interactions of rising inequality and stagnating productivity, and the unresponsiveness of...

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Links for 10-11-17

No Better Than The Rest of Us - Tim Duy Puerto Rico, Trump and Taxes - Paul Krugman The Demise of Dollar Diplomacy? - Barry Eichengreen Inequality: Fiscal Policy Can Make the Difference - IMF Blog The impact of austerity in the UK - mainly macro U.S. Monetary Policy as a Changing Driver of Global Liquidity - Liberty Street The enduring impact of skilled immigrants - American Economic Association Effective rewards for whistleblowing - VoxEU Snapshots of the Global Robotics...

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Fed Watch: Kevin Warsh, Very Serious Person

Tim Duy: Kevin Warsh, Very Serious Person, by Tim Duy: Scott Sumner is perplexed by Fed chair candidate Kevin Warsh. He reads the 2010 FOMC transcripts and finds Warsh explaining: First, my views on policy. As I said when we met by videoconference, my views are increasingly out of step with the views of most people around this table. The path that you’re leading us to, Mr. Chairman, is not my preferred path forward. I think we are removing much of the burden from those that could actually...

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Links for 10-10-17

Growth Without Industrialization? - Dani Rodrik Rationality and Rabbit Holes - Paul Krugman Formal Jobs and Decent Work - Tim Taylor Why Big Cities Thrive, and Smaller Ones Are Being Left Behind - NYTimes Centrists - become Marxists - Stumbling and Mumbling Services trade liberalisation and global imbalances - Bank Underground On Richard Thaler Receiving The Nobel Prize - EconoSpeak Defending Thaler from the guerrilla resistance - Noahpinion The E.P.A.’s Smoke and Mirrors on Climate...

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Paul Krugman: Virginia Is for Haters

"Virginia is now the most important place on the U.S. political landscape": Virginia Is for Haters, by Paul Krugman, NY Times: ...If you want to understand why policies toward the poor are so different at the state level..., one predictor stands out: the African-American share of the population. The more blacks, the less compassion white voters feel. The story gets even clearer if you look at the implementation of the Affordable Care Act, which allows states to expand Medicaid...

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Suppression of the Wealth Tax: An Historical Error

Thomas Piketty: Suppression of the wealth tax: an historical error, by Thomas Piketty: Let it be said at once: the suppression of the wealth tax (Impôt sur la Fortune or ISF) constitutes a serious moral, economic and historical mistake. This decision reveals a profound misunderstanding of the challenges to inequality posed by globalization. Let’s go back for a moment. During the first globalization period between 1870 and 1914, a strong international movement gradually took shape which...

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