Wednesday , May 22 2019
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Tag Archives: Uncategorized

Wednesday assorted links

1. Do broken homes produce more cautious investors? 2. John Cochrane on Jeff Clemens on the minimum wage. 3. Baseball pitch velocity. 4. Soviet whale quotas. 5. Australian podcast with me.  AEI Pethokoukis podcast with me. 6. Yancey Strickler on the dark forest theory of the internet. The post Wednesday assorted links appeared first on Marginal REVOLUTION.

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There’s something wrong with my car

Last week, I brought my new car back to the dealer. It’s not working properly. Here’s how I explained the problem to the dealer: When I merge onto the freeway, I have trouble getting the car up to 65mph. I tapped on the brake pedal 9 times, and still no luck. The car doesn’t accelerate to 65mph. There must be something wrong with my car. The dealer gave me a funny look, and made up some phony excuse about how tapping the brake pedal might have prevented the car from...

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What does it mean to “finance government spending by purchasing bonds”?

Here’s the Financial Times: Torsten Sløk, a Deutsche Bank economist, pointed out the US central bank is not only under pressure from the White House, but also from progressive economists and lawmakers, where there is a growing belief that central banks can help finance extra public spending by purchasing government bonds, without triggering dangerous levels of inflation. I see this sort of thing quite often.  It’s not exactly wrong, but it’s so misleading as to be the moral...

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How can the world best gang up on America?

The US has many fine qualities, but in the field of international relations the US is becoming one of the single worst nations on Earth.  Here is just one example: President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May 1 or face sanctions.  The move, which took many market participants by surprise, ends six months of waivers which had allowed Iran’s eight biggest buyers of crude to continue to import limited volumes....

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Women’s liberation as a financial innovation

In one of the greatest extensions of property rights in human history, common law countries began giving rights to married women in the 1850s. Before this “women’s liberation,” the doctrine of coverture strongly incentivized parents of daughters to hold real estate, rather than financial assets such as money, stocks, or bonds. We exploit the staggered nature of coverture’s demise across US states to show that women’s rights led to shifts in household portfolios; a positive shock to the supply...

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Tuesday assorted links

1. “Our findings indicate that the repeal of nonmedical exemptions in California was only partially effective in improving vaccination coverage, and may have led parents to substitute between medical and nonmedical exemptions, leading to a net decline in total exemptions of just 1 percentage-point.”  Link here. 2. Does price-fixing benefit corporate managers? 3. Support for freedom of the press is falling in Africa. 4. Russ Roberts interviews Mary Hirschfeld. 5. More on how Newark...

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The recent political revolution is a major shift toward the right

And when I say recent, I mean in the last few weeks.  That is the topic of my recent Bloomberg column, here is one bit: The populist “New Right” isn’t going away anytime soon, and the rise of the “New Left” is exaggerated. Start with Australia, where Prime Minister Scott Morrison won a surprising victory last week. Before the election, polls had almost uniformly indicated that his Liberal-National Coalition would have to step down, but voters were of another mind. With their support of...

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Some Scary Graphs: Manufacturing

Some NBER BCDC key indicators have peaked, as noted in this post. The more volatile manufacturing sector is showing stress as well. Figure 1: Employment in manufacturing (blue), aggregate hours of nonsupervisory and production workers in manufacturing (teal), and manufacturing production (red), all in logs, 2019M01=0. Source: BLS, Federal Reserve via FRED, and author’s calculations. Durable manufacturing has witnessed an even more precipitous decline. Figure 2: Employment in durable goods...

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Assorted Monday links

1. Uber/Lyft driver collusion? 2. Elba insurance markets in everything: “Guests receive a refund for one night if it rains for more than two hours on any given day during their stay.” (NYT) 3. German economy adjusting OK to immigration surge. 4. U.S. military officers are calling North Korea on a pink phone to talk about the Los Angeles Dodgers (WSJ). 5. “A proposal before the D.C. Council would allow up to 80 regular citizens, 10 in each ward, to issue tickets to vehicles...

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Sunday assorted links

1. Money from Putin and trouble in Austria. 2. Less social discounting from autistics. 3. Jeff Koons is underrated (NYT). 4. “Soil Instead Of Ashes: Human Composting Is About To Become Legal In Washington State.” 5. Anti-inflation dubplate. 6. Newark schools have in fact turned around (The Economist, and I’d like to see a separate piece on whether Mark Zuckerberg deserves any credit for this.) The post Sunday assorted links appeared first on Marginal REVOLUTION.

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