Sunday , June 16 2019
Home / Econbrowser - James Hamilton / Bleg: Puzzles in the Hassett Economic Report of the President, 2019

Bleg: Puzzles in the Hassett Economic Report of the President, 2019

Summary:
In the wake of the discussion of Figure 1-6 in the ERP, I thought it might be useful for me to collect up questions about puzzling or misleading graphs/tables or conclusions in the Report. The entire document is here. I don’t think I have ever made a similar request. However, I don’t think I’ve ever seen a similar CEA “massage the message” in quite the same way. Even the G.W. Bush CEA (of which I was briefly a part of) did not make such blatantly misleading graphics as highlighted in this post. Clarification (3PM): I’ll then compile the contributions with my comments in a new post. By the way, the more transparently reinterpretation of the ERP, 2019 graph… Figure 1: Chinn’s reinterpretation of ERP, 2019 Figure 1-6. Trend growth rates calculated using log differences. Nonresidential

Topics:
Menzie Chinn considers the following as important:

This could be interesting, too:

Tyler Cowen writes Saturday assorted links

Tyler Cowen writes Why Chinese is so difficult

Tyler Cowen writes Laying of cable for the transatlantic telegraph is an underrated achievement

Tyler Cowen writes Friday assorted links

In the wake of the discussion of Figure 1-6 in the ERP, I thought it might be useful for me to collect up questions about puzzling or misleading graphs/tables or conclusions in the Report.

The entire document is here.

I don’t think I have ever made a similar request. However, I don’t think I’ve ever seen a similar CEA “massage the message” in quite the same way. Even the G.W. Bush CEA (of which I was briefly a part of) did not make such blatantly misleading graphics as highlighted in this post.

Clarification (3PM): I’ll then compile the contributions with my comments in a new post.

By the way, the more transparently reinterpretation of the ERP, 2019 graph…

Bleg: Puzzles in the Hassett Economic Report of the President, 2019

Figure 1: Chinn’s reinterpretation of ERP, 2019 Figure 1-6. Trend growth rates calculated using log differences. Nonresidential investment based on reported aggregates. Equipment investment calculations uses data up to 2017Q3 for the pre-TCJA period. Source: BEA 2018Q3 final release, and author’s calculations.

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

Leave a Reply

Your email address will not be published. Required fields are marked *