Sunday , June 20 2021
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Tag Archives: Uncategorized

AIT so far

Last August, I did a blog post suggesting that in order for the Fed’s new average inflation targeting policy to be successful the PCE price level needed to be roughly 135.207 in January 2030, which represents a 2% annual growth rate over the January 2020 price level (110.917.) The most recent PCE data is for […]

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Some Economics of Black America

The McKinsey Global Institute has published “The economic state of Black America: What is and what could be” (June 2021). Near the beginning, the report points out: Dismantling the barriers that have kept Black Americans from fully participating in the US economy could unleash a tremendous wave of growth, dynamism, and productivity. This research identifies critical gaps Black Americans face in their roles as workers, business owners, savers and investors, consumers, and residents...

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Basil Halperin on sticky wage models

Some of the earliest New Keynesian models featured wage stickiness. By the 1980s, NKs switched to price stickiness, which remains the standard assumption even today. Basil Halperin has an excellent essay that explains why wage stickiness is a more useful assumption for macro models. This portion of his essay caught my eye: 1. Identification: the […]

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Interview: Amartya Sen on a Bicycle

Christina Pazzanese interviews 87 year-old Amartya Sen (Nobel ’98) for the Harvard Gazette (June 3, 2021), with an emphasis on the long arc of his life and career (‘I’ve never done work that I was not interested in. That is a very good reason to go on.’ June 3, 2021). The interview is full of interesting nuggets, like the time he co-taught a Harvard course on social choice theory with Kenneth Arrow and John Rawls. One point that caught my eye was Sen’s passion since his boyhood for...

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The new “election fraud”

Here’s Bloomberg: “We are witnessing the greatest election fraud in the history of the country, in my opinion in the history of any democracy,” Israeli Prime Minister Benjamin Netanyahu said this week, echoing Trump as he smeared an unusual political coalition formed to unseat him. Though he is also mired in a corruption trial, Netanyahu said […]

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Vermont and Wyoming

Vermont has the nation’s highest vaccination rate — 72.4% Wyoming has a rate that is well below average — 38.2% Why such a big difference? These states rank number 49 and 50 in population. Both states are lacking in big urban areas. Both states are overwhelmingly white, with relatively few minorities. At the same time, […]

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From Pandemic to Digitalization to Productivity?

We know that the pandemic caused people and firms to make much more widespread use of digital technologies: working from home, ordering on-line, tele-medicine, education from K-12  to college delivered on-line, and so on. Indeed, it seems likely that this surge of digital activity is also providing an incentive for substantial investments in physical capital, intangible capital (like software), and complementary human skills to make use of these investment. Might these shifts in patterns...

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Nitrous Oxide, Agriculture, and Climate Change

For most of us, nitrous oxide calls up memories of the local anaesthetic used by many dentists. But nitrous oxide is also an important greenhouse gas, and the main emissions into the atmosphere do not come from dentists run amok, but rather from applications of nitrogen-based fertilizers to soil. Ula Chrobak tells the story in “Fighting climate change means taking laughing gas seriously: Agriculture researchers seek ways to reduce nitrous oxide’s impact on warming” (Knowable Magazine,...

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Sunday assorted links

1. Was the unicorn a now-extinct Siberian rhino? 2. What does the concept of sustainability mean? 3. Long post about Miles Davis. 4. Interview with Amartya Sen. 5. The changing nature of capital flows. 6. Houston man against Burger King upselling nudges. The post Sunday assorted links appeared first on Marginal REVOLUTION.

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