Thursday , August 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

Links for 08-16-17

Why don’t all CEOs quit Trump’s advisory councils? - Larry Summers Nearly All US Trade Deals Were Negotiated by Republicans - PIIE How Donald Trump Is Driving Up Health Insurance Premiums - NYTimes Adam Smith: The Impartial Spectator in Times of Faction - Tim Taylor More Credit Cards, Higher Limits, and an Uptick in Delinquency - Liberty Street Job polarization - Stumbling and Mumbling What does respecting the referendum result mean? - mainly macro Why Is The Fed Raising...

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Fed Watch: Retail Sales, Dudley, Wages

Tim Duy: Retail Sales, Dudley, Wages, by Tim Duy: Some quick thoughts for the day. First, New York Federal Reserve President William Dudley gave an extended interview to the Associate Press. Definitely worth the time to read. Some highlights: 1.) Dudley never put a Trump bump in his forecast, so his forecast is essentially unchanged:  I think we’re still on the same trajectory we’ve been on for several years. Above trend growth, gradually tightening labor market, inflation --...

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Fed Shouldn’t View Productivity as an Exogenous Factor

Tim Duy: Fed Shouldn't View Productivity as an Exogenous Factor: The Federal Reserve has an opportunity to test a hypothesis critical to the health of the U.S. economy: Can persistently loose monetary policy boost the pace of productivity growth? Sadly, for now, an adherence to a strict Phillips curve framework for the economy and fear of financial instability will prevent the Fed from venturing down this path. ...[Continued at Bloomberg Prophets]...

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Do Low Interest Rates Punish Savers?

Roger Farmer: 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 implications of his recent research for low interest rates. And Kevin Lansing, a...

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Links for 08-15-17

Why the Federal Reserve’s job will get harder - Larry Summers The Case for Regulating Before Harms Occur - The Regulatory Review The Natural Rate of Unemployment over the Past 100 Years - FRBSF Misallocation and Productivity: International Perspective - Tim Taylor The social mobility lie - Stumbling and Mumbling The Rise of Market Power and the Decline of Labor’s Share - ProMarket How did the UK austerity mistake happen - mainly macro Analyzing Terabytes of Economic Data - No...

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Paul Krugman: When the President Is Un-American

"we don’t need to wonder whether an anti-American cabal ... has seized power in Washington. It has:": When the President Is Un-American, by Payl Krugman, NY Times: ...what makes America America is that it is built around an idea: the idea that all men are created equal, and are entitled to basic human rights. Take away that idea and we’re just a giant version of a two-bit autocracy. ... Real Americans understand that our nation is built around values, not the “blood and soil” of...

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The Republican Retreat From Market-Based Regulation

I have a new column: The Republican Retreat From Market-Based Regulation: During the debate over the repeal of Obamacare, Republicans made frequent reference to their desire for a “free market” for health care. This is consistent with the GOP’s long-standing support of deregulation and free market principles. But all well-functioning markets are regulated to one degree or another. ...

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Fed Watch: Don’t Add To The Fire

Tim Duy: Don't Add To The Fire: Vox has an article out this morning with the title "The real "deep state" sabotage is happening at the Fed." It begins: Trump administration officials are notorious for their suspicion that a “deep state” of career military, intelligence, diplomatic, or civil service professionals is seeking to sabotage their work. But for a clearer example of sabotage — albeit without much in the way of a conspiracy — Trump would do well to cast his...

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Links for 08-12-17

Micro Needs macro - Brad DeLong The Financial Crisis Tenth Anniversary - EconoSpeak What economists study: A guide for the curious - VoxEU Inequality and Property in Russia - Novokmet, Thomas Piketty, Zucman Gender quotas and the crisis of the mediocre man - Microeconomic Insights Measuring the True Impact of Job Loss on Future Earnings - FRB Cleveland Warehousing A Historical Lesson in central bank independence - FRB Cleveland Why income inequality is so much worse in the U.S. - The...

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Paul Krugman: The Axis of Climate Evil

"Where does climate denial come from?": The Axis of Climate Evil, by Paul Krugman, NY Times: ...At this point the evidence for human-caused global warming just keeps getting more overwhelming, and the plausible scenarios for the future — extreme weather events, rising sea levels, drought, and more — just keep getting scarier. In a rational world urgent action to limit climate change would be the overwhelming policy priority for governments everywhere. But the U.S. government is,...

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