Technical Problems 1/21/15
The website was down for a day and a half, but is back up now.
May 2014 Payroll Employment
After 76 months, we finally got back to the prerecession level of payroll employment.
Click on the image to get a bigger version.
The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .
Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?
Brad DeLong favors the U.S. gdp gap.
Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?
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Private Sector Development Blog
"A market approach to development thinking”
A concerted effort is being made by institutions like the World Bank to quantify various types of transaction costs incurred by businesses (Doing Business, Enterprise Surveys). The rationale for focusing on transaction costs (and reducing them) is usually couched in mainstream economic concerns. That is, in an attempt ...
In an article last month in the Boston Review, Kentaro Toyama, a former computer scientist for Microsoft turned ICT4D promoter, confronts the limits of technological solutions to development problems:
But the value of a technology remains contingent on the motivations and abilities of organizations applying it—villagers must ...
Most of the attention on governance in developing countries is on developing efficient rules and regulations. That is, given the social and economic priorities of a country, rules and regulations should work towards achieving priorities in the least costly way. However, another dimension of governance that must be discussed is ...
For all of us working towards providing a better business and regulatory environment, it is important to know whether economic analysis has improved the quality of regulatory decisions. A proper analysis of the costs and benefits associated with regulations (government rules that govern private activity) is critical in determining which ...
Few would dispute China’s importance to the world economy today; from small villages to large cities, its presence is now felt almost everywhere. The Economist recently went so far as to call China “the indispensable economy,” reporting that more and more multinational companies are realizing an increased ...
You might find it hard to believe, but high prices of onions can trigger the fall of the government in India. In 1998, a supply side shock led to a sharp increase in onion prices in the country and most notably, in the state of Delhi. In the ...
The United Nations seems to have a day for everything, from poetry (March 20) to families (May 15) to statistics (October 20). They even have a day for mountains (December 11). Most of these days come and go without much fuss or attention.
Editor’s Note: Michael Klein is the former Vice President of Financial and Private Sector Development of the World Bank Group and is currently Visiting Professor at Harvard and Johns Hopkins University.
Nairobi 2006. Making Finance Work for Africa is the topic. Bankers, officials of monetary authorities, regulators, representatives of the IMF ...
Editor's Note: The following post was submitted jointly by Mohammad Amin and Arvind Jain, both of the World Bank Group's Enterprise Analysis Unit.
The Enterprise Analysis Unit at the World Bank recently put out a short Country Note on the current state of the business climate in Azerbaijan. The note ...
Over the past decade foreign direct investment (FDI) has become a major force in developing and transition economies. In 2010 the volume of FDI to developing and transition economies for the first time exceeded the FDI to rich economies. In a speech on Democratizing Development Economics delivered at ...