Wednesday , April 21 2021
Home / Tag Archives: Regulation

Tag Archives: Regulation

NZ is getting riskier

This week's column on regime uncertainty at Newsroom is now ungated. A couple snippets:Last week, Finance Minister Grant Robertson provided a letter to Air New Zealand outlining the Government’s expectations as the majority shareholder. These expectations include maintaining a comprehensive domestic route network; engaging with the development of new aviation fuels and enhancing its role as a leader for best-practice workplace relations.Robertson noted that because the Government expects...

Read More »

Morning roundup

The morning's worthies, from the accumulated browser tabs:A Manhattan Institute roundup, from last January, on the problems with rent control. What would be a fair price on iPredict for a contract paying $1 if Labour brings in rent controls. $0.60? Higher? Otago's tallying of the border system failures as at 30 March. Add to it this week's case of a border worker who caught it, and had somehow managed to miss vaccination appointments due to personal reasons. Minister Hipkins could issue a...

Read More »

A letter to Yellen

Secretary of the Treasury, and ex Federal Reserve Chair Janet Yellen recently hosted an important meeting of the Financial Stability Oversight Council.  This is the highest level body overseeing financial regulation in the US. It matters. Her remarks start smoothly but critically, as one expects of a habitually well-prepared pro. A lot went wrong last year, from the treasury markets to another mutual fund bailout, and so forth. Bravo, it is time to get past celebrating how another...

Read More »

San Francisco bans affordable housing

"San Francisco bans affordable housing," is the spot-on conclusion of a lovely post by Vadim Graboys (link to twitter). The post is titled "54% of San Francisco homes are in buildings that would be illegal to build today" with an interactive graph of those homes. Or, put another way, "To comply with today's [zoning] laws, 130,748 homes would have to be destroyed, evicting around 310,000 people."The latter statistic is fun, but actually severely understates the damage...

Read More »

Afternoon roundup

The browser tabs, there are so many.I'm quoted in the Dom on the 1 April minimum wage increases. I hadn't gone through MBIE's advice before. MBIE's review has a decent summary of the literature, provides the necessary warnings about substantial real minimum wage increases in the current environment. Alas. The analyst would had to have known that the advice would be ignored, but be darned if the advice wasn't going to be provided anyway.If iPredict still existed, what would be the fair price...

Read More »

Testimony on financial regulation and climate change

I had the honor of testifying at the Senate Committee on Banking, Housing and Urban Affairs, on Protecting the Financial System from Risks Associated with Climate Change Full video at the link, I start at 48:30 with slightly abridged version of these remarks. Testimony of John H. Cochrane to US Senate Committee on Banking, Housing, and Urban Affairs Chairman Brown, Ranking Member Toomey and Members of the Committee: Thank you for the opportunity to testify today. I am John...

Read More »

Pay toilets and NYT: a free market microcosm

Nicholas Kristof in Sunday's New York Times asks a pressing -- often quite pressing -- question. Why are there no public toilets in America? He is right. He calls for a federal infrastructure plan to fix the problem: "Sure, we need investments to rebuild bridges, highways and, yes, electrical grids, but perhaps America’s most disgraceful infrastructure failing is its lack of public toilets."Now, put on your economist hat. Or even put on your reporter hat. Ask the question why are there no...

Read More »

How Chicago Economics is Helping End a Pandemic: Interview with Murphy, Philipson, Topel

Covid-19 has disrupted much of human life, but Operation Warp Speed has drastically mitigated the costs of the virus. The $10 billion federal program launched in April 2020 encouraged and accelerated the development and mass manufacturing of COVID-19 vaccines, streamlined Federal approval for vaccines and their manufacture, and provided Federal funds for private vaccine research and advance-purchase orders.  COVID-19 vaccines are currently being administered to the general public at least...

Read More »

Grumpy economist podcast: free market tests, vaccines and more

The Grumpy Economist podcast is back, and we're going to aim for a once per two week schedule. This week we talk about vaccines, tests, masks, and how free markets would do better than the government, or at least can usefully complement the government. I wanted to get to the larger point, at least can we have a free market in toilet paper? Price controls in crises are one of those econ 101 questions that divide economists from everyone else. Don't transfer income by rationing toilet...

Read More »

Sanity in CA housing?

As reported by the Sacramento Bee, its city council voted unanimously to allow four-plexes across the city overturning one-house-per lot zoning. It's couched somewhat in the language of diversity, City officials said the proposal would help the city alleviate its housing crisis, as well as achieve equity goals, by making neighborhoods with high-performing schools, pristine parks and other amenities accessible for families who cannot afford the rising price tags to buy homes...

Read More »