Economics Roundtable

NOTICE 4/30/18

The Economics Roundtable is back. The technical problem that has limited the set of blogs has been resolved. The RSS feed is, however, still not working.

Flushing caches will likely cause some old posts to show up for a day or two.


Employment as a Percentage of Population

The graph below shows employment as a fraction of population for people over 16 years old.


Click on the image to get a bigger version.


March 2017 Payroll Employment

Payroll employment has not grown impressively since 2000. Some baby-boomers retired, but that does not totally account for this graph.

Click on the image to get a bigger version.


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.


Graph-of-the-Year Candidates

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.


RSS Feed

- Recent Entries


October 22, 2018, 2:39 pm, 1910085

That is the topic of my latest Bloomberg column, note I am continuing to see a larger backlash on the Saudi issue than one might have expected. The bigger underlying question is this: given all that has happened, so why is the United States still such ...


October 22, 2018, 2:39 pm, 1910084

Last week, researchers at the the University of Washington released a new study predicting that US life expectancy would fall further and further behind other countries over the next twenty years. Life expectancy will continue to increase, but at a slower rate than many other countries.

Whether not ...


October 22, 2018, 2:34 pm, 1910083

Dog bites man. Baby cries. Water flows downhill. And the UN Intergovernmental Panel on Climate Change (IPCC) says climate catastrophe is imminent. The new “Summary for Policymakers” of Global Warming of 1.5°Celsius, a “special report” from the IPCC, makes the following central arguments:

The world ...


October 22, 2018, 2:04 pm, 1910073

On the campaign trail last week, President Trump said he had been working on “a very major tax cut” for middle-income taxpayers. It caught many in Congress ...


October 22, 2018, 1:44 pm, 1910066
(Don Boudreaux)


October 22, 2018, 1:23 pm, 1910058

The US is ground zero for opioid addiction, but its problem is just larger in scale than other nations, not unique. For some the US is exporting its crisis, and US companies like Purdue are exporting the danger. But ironically the United States’ clamping down on opioid ...


October 22, 2018, 12:39 pm, 1910039

October 22, 2018, 12:39 pm, 1910038

Globalists: The End of Empire and the Birth of Neoliberalism
by Quinn Slobodian
Harvard University Press, 2018
x+381 pages

Quinn Slobodian, a historian at Wellesley College, tells us that Globalists “is a long-simmering product of the Seattle protests against the World Trade organization in 1999. I was part of a generation ...


October 22, 2018, 12:06 pm, 1910033

Education Corporation of America filed a legal action in federal district court last week claiming financial distress, seeing to enjoin its creditors and restructure its debt. Sounds like Chapter 11, right? But no. ECA can't file a bankruptcy petition, because that would immediately cut off its ...


October 22, 2018, 12:04 pm, 1910031
HuffPost Politics: New York Times columnist Economist Paul Krugman fears that President Donald Trump’s insistent complaints of “voter fraud” are a setup to deny the legitimacy of a Democratic majority in the House should the party win in the midterm elections. Those who don’t believe such a scenario is possible ...


October 22, 2018, 11:43 am, 1910023

On this episode of the AEI Events Podcast, authors Jonathan Haidt and Greg Lukianoff discuss their new book, “The Coddling of the American Mind: How Good Intentions and Bad Ideas Are Setting Up a Generation for Failure”, and their take on the new guiding philosophy in America’s educational system ...


October 22, 2018, 11:28 am, 1910015

d


October 22, 2018, 11:23 am, 1910014

Is it still possible to have a sane conversation about Pakistan in India? If the hyperventilating shouting matches that pass for TV news programmes are anything to go by, it’s hard to answer in the affirmative.

Earlier this month, former cricketer and current Congress Party politician Navjot Singh Sidhu riled both ...


October 22, 2018, 11:03 am, 1910004

In this episode of the Bradley Lecture Series Podcast, we’re revisiting “Recovering the Case for Capitalism” by Yuval Levin, Hertog Fellow at the Ethics and Public Policy Center, originally given at AEI’s headquarters in January of 2010.

Though much has changed in the American political landscape since that time, many of ...


October 22, 2018, 11:03 am, 1910006

Professional musician turned intrepid economist Arthur Brooks travels around the globe in search of an answer to the question: How can we lift up the world together, starting with those at the margins of society? His journey takes him through the chaotic streets of Mumbai, a town ...


October 22, 2018, 11:03 am, 1910005

When a measurement becomes the goal, it is no longer a reliable indicator of success. First observed by social scientist Donald T. Campbell, this problem corrupts data in ...


October 22, 2018, 10:35 am, 1909996
Update: Watching existing home "for sale" inventory is very helpful. As an example, the increase in inventory in late 2005 helped me call the top for housing.

And the decrease in inventory eventually helped me correctly call the bottom for house prices in early 2012, see: The ...


October 22, 2018, 10:34 am, 1909995
September existing home sales: yet another poor housing report While existing home sales are roughly 90% of the entire housing market, they are much less important as an economic indicator because they do not have the knock-on effects of construction improvements, and less of the landscaping and indoor improvements, that ...


October 22, 2018, 9:43 am, 1909977

Abstract

For the first time in the literature, we develop a quantitative indicator of the Chinese government’s policy priorities over a long period of time, which we call the Policy Change Index (PCI) of China. The PCI is a leading indicator of policy changes that runs from 1951 to the third ...


October 22, 2018, 9:04 am, 1909967
From the Chicago Fed: Index Points to a Moderation in Economic Growth in September

The Chicago Fed National Activity Index (CFNAI) decreased to +0.17 in September from +0.27 in August. Two of the four broad categories of indicators that make up the index decreased from August, but three of ...


October 22, 2018, 9:04 am, 1909966

October 22, 2018, 8:35 am, 1909959

“By and large our negative interest-rate policies have been a success. We haven’t seen the distortions that people were foreseeing. We haven’t seen bank profitability going down; in fact, it is going up.” Mario Draghi, Comments at the Peterson Institute, Washington D.C., October 12, 2017. (at 36 minutes ...


October 22, 2018, 7:48 am, 1909943

I enjoyed this movie, although I would not describe it as a must-see.  It is best for showing the rickety and claustrophobic nature of the moon landing program.

Three points struck me in particular, both concerning progress.  First, the space shots in this movie are not better ...


October 22, 2018, 7:48 am, 1909942
Erin Denison, Michael Fleming, Warren B. Hrung, and Asani Sarkar



Second of two parts
Our previous post described the workings of the Term Securities Lending Facility Options Program ...


October 22, 2018, 7:48 am, 1909941
Gara Afonso, Michael Blank, and João Santos



One goal of the Dodd-Frank Act of ...


October 22, 2018, 7:48 am, 1909936
Sonia Gilbukh and Paul Goldsmith-Pinkham



The recent U.S. housing crisis featured explosive growth and collapse of ...


October 22, 2018, 7:48 am, 1909935
R. Jason Faberman, Thomas Haasl, Andreas I. Mueller, Ayşegül Şahin, and Giorgio Topa




In a previous post, ...


October 22, 2018, 7:48 am, 1909937
Maya Bidanda, Rajashri Chakrabarti, Sean Hundtofte, andMaximPinkovskiy



The Patient Protection and Affordable Care Act (ACA) is ...


October 22, 2018, 7:48 am, 1909940
Gabriele La Spada



The term “reach for yield” refers to investors’ tendency to buy riskier assets in hopes ...


October 22, 2018, 7:48 am, 1909933
Richard W. Peach, Gizem Kosar, and Nicole Gorton

Editor's note: This post has been corrected to reflect that the limit on itemized deductions of state and local taxes for individuals is now $10,000 (not $5,000, as originally stated) and the limit on the mortgage interest deduction ...


October 22, 2018, 7:48 am, 1909939
Michael Cai, Marco Del Negro, Abhi Gupta, and Pearl Li

This post presents a quarterly update of the economic forecast generated by the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (DSGE) model. We describe our forecast very briefly and highlight its change since ...


October 22, 2018, 7:48 am, 1909938
Michael Fleming and Amanda Wahlers



In January 2014, the U.S. Treasury Department made its first sale ...


October 22, 2018, 7:48 am, 1909934
Tobias Adrian, Nina Boyarchenko, and Domenico Giannone




Traditional GDP forecasts potentially present an overly optimistic (orpessimistic) view of the state of the economy: by focusing on the point estimate ...


October 22, 2018, 7:48 am, 1909927
Michael Cai, Marco Del Negro, Marc Giannoni, Abhi Gupta, and Pearl Li

The years following the Great Recession were challenging for forecasters for a variety of reasons, including an unprecedented policy environment. This post, based on our recently released working paper, documents thereal-time forecasting performance ...


October 22, 2018, 7:48 am, 1909932
Helene Lee and Asani Sarkar




The European Central Bank (ECB)’s


October 22, 2018, 7:48 am, 1909925
Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw


October 22, 2018, 7:48 am, 1909928
Linda S. Goldberg and April Meehl



The global financial crisis, and the ensuing Dodd-Frank Act, identified sizeand ...


October 22, 2018, 7:48 am, 1909926
Michael Fosco and Thomas Klitgaard



Almost half the U.S. merchandise trade deficit was tied to petroleum tenyears ago. Oil prices were above $100 a barrel, the economy was ...


October 22, 2018, 7:48 am, 1909929
Jonathan McCarthy, Richard Peach, and Robert Rich

Today, the Federal Reserve Bank of New York is hosting the spring meeting of its Economic Advisory Panel (EAP). As has become the custom at this meeting, the New York Fed’s Research staff is presenting its ...


October 22, 2018, 7:48 am, 1909931
Andreas Fuster, Andrew Haughwout, Nima Dahir, and MichaelNeubauer


October 22, 2018, 7:48 am, 1909930
Mary Amiti, Sebastian Heise, and Noah Kwicklis



President Trump announced a new tariff of 25 percent on ...


October 22, 2018, 7:48 am, 1909919
Andreas Fuster, Matthew Plosser, and James Vickery




The adoption of new technologies is transforming the mortgage industry. ...


October 22, 2018, 7:48 am, 1909917
Jason Bram and Lauren Thomas



In the ten months that have passed since Hurricanes Irma ...


October 22, 2018, 7:48 am, 1909920
Richard Crump and João Santos

The financial crisis of 2007-08 and the ensuing recession, the most severe since the 1930s, prompted a wave of regulatory reforms: tighter bank capital and liquidity rules, new failed bank resolution procedures, a stand-alone consumer protection agency, greater transparency in money market ...


October 22, 2018, 7:48 am, 1909923
Gizem Kosar, Wilbert van der Klaauw, Olivier Armantier, and JohnConlon




The Tax ...


October 22, 2018, 7:48 am, 1909924
Domenico Giannone, Michele Lenza, and Giorgio Primiceri



The availability of large data sets, combined with ...


October 22, 2018, 7:48 am, 1909922
Ozge Akinci and Ryan Chahrour




One of the major debates in open economy macroeconomics is the extent to ...


October 22, 2018, 7:48 am, 1909921


Bill Dudley will soon turn over the keys to the vault—so to speak. But before his tenure ends after nine years as president of the New York Fed, Liberty Street Economics sought ...


October 22, 2018, 7:48 am, 1909918
Nicole Gorton and Maxim Pinkovskiy



The state of the New York ...


October 22, 2018, 7:48 am, 1909910
Nicola Cetorelli, Sarah Gertler, and Anna Kovner

Better understanding of financial intermediation is critical to the efforts of the New York Fed to promote financial stability and economic growth. In pursuit of this mission, the New York Fed recently hosted the thirteenth annual Federal Reserve Bank of ...


October 22, 2018, 7:48 am, 1909916
Gara Afonso, Roc Armenter, and Benjamin Lester



As a ...


October 22, 2018, 7:48 am, 1909911
Moreno Bertoldi, Paolo Pesenti, Hélène Rey, and Petr Wagner


October 22, 2018, 7:48 am, 1909912
Jaison R. Abel and Jason Bram



The New York ...


October 22, 2018, 7:48 am, 1909915
Sushant Acharya, Michael Cai, Marco Del Negro, Abhi Gupta, and PearlLi

This post presents an update of the economic forecasts generated by the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (DSGE) model. We describe very briefly our forecast and its change since March 2018. ...


October 22, 2018, 7:48 am, 1909914
Diego Aragon, Anna Kovner, Vanesa Sanchez, and Peter Van Tassel



The Tax Cuts and ...


October 22, 2018, 7:48 am, 1909913
Marco Cipriani and Gabriele La Spada



Several academic papers have documented investors’ willingness to pay apremium to hold money-like assets and focused ...


October 22, 2018, 7:48 am, 1909904
Hunter Clark and Thomas Klitgaard



China’s population is only growing at a 0.5 percent annual rate, its working-age cohort (ages 15 to 64) is shrinking, and the share of the population that ...


October 22, 2018, 7:48 am, 1909903
By Jason Bram and Richard Deitz

This week, we published our August surveys of regional manufacturers and service firms. Our Supplemental Survey Report, released this morning, reveals how these businesses view the effects of recent trade policy on their costs, prices, ...


October 22, 2018, 7:48 am, 1909905
Andrew Haughwout, Donghoon Lee, Joelle Scally, andWilbertvanderKlaauw



Household debt balances continued their upward trend in the second quarter, with increases ...


October 22, 2018, 7:48 am, 1909909
Antoine Martin and Sam Schulhofer-Wohl



It is sometimes said that the Federal Reserve should ...


October 22, 2018, 7:48 am, 1909902
Rajashri Chakrabarti and Michelle Jiang



Amid dialogue about the soaring student loan burden, questions arise about how educational characteristics ...


October 22, 2018, 7:48 am, 1909908
Antoine Martin and Sam Schulhofer-Wohl



In our previous post, we discussed ...


October 22, 2018, 7:48 am, 1909907
Patrick Adams, Brandyn Bok, Daniele Caratelli, Domenico Giannone, Eric Qian, Argia Sbordone, Camilla Schneier, and Andrea Tambalotti



In ...


October 22, 2018, 7:48 am, 1909906
Mary Amiti, Mi Dai, Robert C. Feenstra, and John Romalis



Import tariffs are on the rise in the UnitedStates, with a long list of new tariffs imposed in the last few months—25percent on ...


October 22, 2018, 7:48 am, 1909899
Doug Brain, Michiel De Pooter, Dobrislav Dobrev, Michael Fleming, Peter Johansson, Collin Jones, Frank Keane, Michael Puglia, LizaReiderman, Tony Rodrigues, and Or Shachar


October 22, 2018, 7:48 am, 1909901
Rene Chalom, Fatih Karahan, Laura Pilossoph, and Giorgio Topa



Halting a nearly decade-long downward trend, the U.S. labor force participation rate (LFPR) has flattened since ...


October 22, 2018, 7:48 am, 1909894
Nicola Cetorelli and James Traina



Many market participants believe that large financial institutions enjoy an implicit guarantee that the government will step in to ...


October 22, 2018, 7:48 am, 1909893
Matthew Plosser and João A.C. Santos



Banks contend that equity capital is expensive and that an increase in capital requirements will adversely impact bank ...


October 22, 2018, 7:48 am, 1909896
Richard Crump and João A.C. Santos



The financial crisis of 2007-08 exposed many limitations of the regulatory architecture of the U.S. ...


October 22, 2018, 7:48 am, 1909895
Anna Kovner, Peter Van Tassel, and Brandon Zborowski



In response to the financial crisis nearly a ...


October 22, 2018, 7:48 am, 1909897
Gizem Kosar and Kyle Smith


October 22, 2018, 7:48 am, 1909900
Adam Copeland, Michael Fleming, Frank Keane, and Radhika Mithal



The Treasury Market ...


October 22, 2018, 7:48 am, 1909898
Jason Bram and Joelle Scally



Puerto Rico recently observed the one-year anniversary of Hurricane Maria—the most destructive storm ...


October 22, 2018, 7:48 am, 1909888
Dong Beom Choi, Michael Holcomb, and Donald P. Morgan



Classic arbitrage involves the same asset selling at different prices; the leverage rule arbitrage we study here involves assets ...


October 22, 2018, 7:48 am, 1909890
George Pennacchi and João A.C. Santos



Nonfinancial corporations focus on the growth in earnings per share (EPS) to benchmark their performance. Banks used to ...


October 22, 2018, 7:48 am, 1909892
Richard Crump, Domenico Giannone, and Sean Hundtofte



Are stock returns predictable? This question is a perennially popular subject of debate. In this post, we highlight some results from ...


October 22, 2018, 7:48 am, 1909891
Andreas Fuster, Matthew Plosser, and James Vickery



The Consumer Financial Protection Bureau (CFPB), created in 2011, is a key element of ...


October 22, 2018, 7:48 am, 1909889
Andreas Fuster and James Vickery



Minimum equity capital requirements are a key part of ...


October 22, 2018, 7:48 am, 1909883
Matthew Higgins




The Tax Cut and Jobs Act (TCJA) reduced ...


October 22, 2018, 7:48 am, 1909887
Daniel Roberts, Asani Sarkar, and OrShachar



Banks traditionally provide loans that are funded mostly by deposits and thereby ...


October 22, 2018, 7:48 am, 1909884
Nina Boyarchenko, Thomas M. Eisenbach, Pooja Gupta, Or Shachar, and Peter Van Tassel



Since the 2007-09 financial crisis, the prices of closely related assets have shown persistent deviations—so-called basis spreads. ...


October 22, 2018, 7:48 am, 1909885
Nina Boyarchenko, Anna M. Costello, and Or Shachar



Credit default swaps (CDS) are frequently credited with being the cause of AIG’s collapse during the financial crisis. A ...


October 22, 2018, 7:48 am, 1909886
Nina Boyarchenko and Or Shachar



The post-crisis regulatory reform efforts to improve capital and liquidity positions of regulated institutions provide incentives for ...


October 22, 2018, 7:45 am, 1909882
Closing the infrastructure gap is now crucial in nearly all countries but especially developing/emerging countries who want to make progress towards meeting the SDGs, bring down extreme poverty, improve their export capacity and address numerous environmental challenge. Infrastructure is critical for economic and social development the world over.


October 22, 2018, 7:45 am, 1909881
In many developing countries, a sizeable number of producers especially in farming and energy received subsidies or some other form of government financial support such as a guaranteed minimum price.


October 22, 2018, 7:28 am, 1909877

Today marks the 50th anniversary of the passage of the Gun Control Act of 1968. The GCA is the main federal law that governs interstate commerce of firearms in the United States. Specifically, the GCA prohibits firearms commerce across state lines except between licensed manufactures, dealers, and importers. ...


October 22, 2018, 7:15 am, 1909876
Shocks are unexpected changes in the economy that can affect variables such as the rate of inflation and the growth rate of GDP. In an inter-connected global economy, events in one part of the world can quickly affect many other countries. For example, the global financial crisis (GFC) brought about ...


October 22, 2018, 7:15 am, 1909875
One of the realities of the global trading system is that average import tariffs are higher when imposed by developing countries than those implemented by advanced, high-income nations. To what extent are protectionist policies such as tariffs, import quotas, domestic subsidies and other trade barriers effective in supporting growth and ...


October 22, 2018, 7:15 am, 1909874
A managed-floating currency when the central bank may choose to intervene in the foreign exchange markets to affect the value of a currency to meet specific macroeconomic objectives.


October 22, 2018, 7:11 am, 1909873

Real estate investment trusts (REITs) in the US posted the biggest gain by far for the major asset classes last week, based on a set of exchange-traded products. By contrast, last week’s biggest loser: equities in emerging markets.

Vanguard Real Estate (VNQ) topped the winner’s list over ...


October 22, 2018, 7:10 am, 1909868

This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here.

Good morning. Today we look at trade negotiations, tariff exemptions, why U.S. women are rejoining the labor force and how kids fit into the dynamic, the pervasive gender wage gap, and another ...


October 22, 2018, 6:38 am, 1909863
A


October 22, 2018, 6:35 am, 1909862
(Don Boudreaux)

… is from chapter 4 of William Graham Sumner’s 1885 book, Protectionism: the -ism ...


October 22, 2018, 6:13 am, 1909860

China criticizes Pompeo’s warning of hidden risks in Chinese investments: Reuters
US Treasury Secretary defends upcoming trip to Saudi Arabia: NY Times
Turkey’s president to reveal ‘details’ in killing of Saudi journalist: USA Today


October 22, 2018, 6:10 am, 1909857

October 22, 2018, 6:04 am, 1909855

Join AEI for a two-day conference, highlighting the latest insights from several mortgage and collateral risk measures. Experts from a variety of backgrounds will share lessons learned from their efforts to objectively measure housing risk and apply it to today’s market conditions. A particular focus will be on the implications ...


October 22, 2018, 6:04 am, 1909856

In the digital economy, one of the most important issues to emerge has been the question of what can be done with the vast amounts of information firms collect on individuals who engage with them.

via Twenty20

Firms ...


October 22, 2018, 5:48 am, 1909850

Now I finally understand why Trump so upsets so many. All that therapy isn't cheap.

   


October 22, 2018, 5:48 am, 1909851

John Tamny, interesting as usual.

    Related ...


October 22, 2018, 5:48 am, 1909849

Co-authored by James J. Heckman, Nobel laureate in economics

We live at a time when trust in the media to report the facts honestly is at an all-time low.

Extreme political polarization, and its influence on our daily lives, makes it more important ...


October 22, 2018, 5:29 am, 1909842

I'm linking to this for the author's interesting argument that "Despite consumer debt being at all-time highs, the next crisis isn't likely to be triggered by excessive household borrowing."

 


October 22, 2018, 5:29 am, 1909841

It's about time somebody wrote this. By Greg Werden and Luke Froeb. Abstract:

The Obama Administration’s Council of Economic Advisers expressed concern that competition was threatened by increasing industry concentration. Academics, commentators, and journalists have joined the chorus. But none demonstrated increasing concentration of meaningful markets, as ...


October 22, 2018, 5:23 am, 1909840
Kevin Hassett and Irwin Steltzer Join in on the Fiscal Dishonesty Brad DeLong is annoyed at the latest from Irwin Stelzer: Hassett and others in the administration point out that despite a hefty reduction in the corporate tax rate from 35 percent to 21 percent, government revenues rose by $3.3 trillion in ...


October 22, 2018, 4:40 am, 1909827

The S&P 500 (Index: SPX) ended the third week of October 2018 much the same way as it ended the previous week, with investors appearing to split their forward-looking focus between the future quarters of 2019-Q1 and 2019-Q3.


October 22, 2018, 3:23 am, 1909816
by New Deal democrat Weekly Indicators for October 15 – 19 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Between them, high interest rates and tariffs are affecting the readings in all three timeframes. As usual, clicking on the link and reading the post puts a little ...


October 22, 2018, 3:23 am, 1909815
by New Deal democrat Weekly Indicators for October 15 – 19 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Between them, high interest rates and tariffs are affecting the readings in all three timeframes. As usual, clicking on the link and reading the post puts a little ...


October 22, 2018, 2:38 am, 1909807

Although it can never really be measured, he may also have been, along with Mark Twain, the most widely traveled American public figure of his century…It is likely that more Americans heard Douglass speak than any other public figure of his times.  Indeed, to see or hear Douglass became ...


October 22, 2018, 1:08 am, 1909803

October 21, 2018, 8:35 pm, 1909784
Weekend:
Schedule for Week of October 21, 2018

Monday:
• At 8:30 AM ET, Chicago Fed National Activity Index for September. This is a composite index of other data.

From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are down 11 and DOW ...


October 21, 2018, 8:04 pm, 1909782
September JOLTS report: a jobs market moving from thriving to hot Tuesday’s JOLTS report once again confirmed the very good employment report from one month ago, with two series making all-time highs and one an expansion high: Quits ust below their all-time high set one month ago Hires made a ...


October 21, 2018, 6:34 pm, 1909779
Jargon is a heck of a drug: If names be not correct, language is not in accordance with the truth of things. If language be not in accordance with the truth of things, affairs cannot be carried on to success. The discourse of global warming/climate change is lousy with jargon. ...


October 21, 2018, 6:34 pm, 1909778

October 21, 2018, 5:52 pm, 1909776

by Sebastian Müller

For a long time, Austrian macro had a unique selling point in what might be called the ‘money matters’ view: referring to the notion that changes in the money supply by their very nature can never be said to be neutral. Yeager (1997) and Horwitz ...


October 21, 2018, 4:35 pm, 1909771
(Don Boudreaux)

Here’s a letter to the American Conservative:

One of my ...


October 21, 2018, 2:39 pm, 1909760

October 21, 2018, 1:45 pm, 1909756
The Economist speculates that whilst we're ten years away from the last recession, we shouldn't be complacent and we might be on the brink of another recession, perhaps triggered by emerging markets or Italy. ...


October 21, 2018, 11:28 am, 1909744

The IDEAL policy creates a long-term visa program in which 3mm immigrants are selected to live in the U.S. per year.

The IDEAL policy is simple and includes the following details:

Immigrants pay $30,000 for a five-year live/work visa renewable for an additional five years at no additional cost ...


October 21, 2018, 11:28 am, 1909743

The IDEAL policy creates a long-term visa program in which 3mm immigrants are selected to live in the U.S. per year.

The IDEAL policy is simple and includes the following details:

Immigrants pay $30,000 for a five-year live/work visa renewable for an additional five years at no additional cost ...


October 21, 2018, 11:26 am, 1909742
About a year ago, SlideShare, the presentation sharing website, deleted one of its most useful features: The ability to reupload a presentation to make a correction or updatewithoutchanging ...


October 21, 2018, 11:05 am, 1909738

The single hardest thing to understand about Donald Trump is that his dominating foreign policy concerns are probably shared by a substantial majority of Americans, though not in any detail. Two of these matters are trade and immigration policies, but more fundamental than either is America’s overall posture vis-a-vis China ...


October 21, 2018, 9:24 am, 1909729
From HotelNewsNow.com: US hotel results for week ending 13 October

The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 7-13 October 2018, according to data from STR.

In comparison with the week of 8-14 October 2017, the industry recorded ...


October 21, 2018, 6:40 am, 1909675

Belichick is one smart guy.

    Related ...


October 21, 2018, 6:35 am, 1909674
(Don Boudreaux)

… is from chapter 4 of William Graham Sumner’s 1885 book, Protectionism: the -ism ...


October 21, 2018, 5:29 am, 1909669

Oh my, I want to see this.

    


October 21, 2018, 2:09 am, 1909665

A few days ago, a few of you thought I was dumping on Memphis.  I did say the city is not an economic development success story, but it is perhaps my favorite place to visit in the American South.  It has the best musical traditions, for ...


October 21, 2018, 12:39 am, 1909662

Yesterday I had lunch with a former Ph.D student of mine, who is now highly successful and tenured at a very good school.  I was reminded that, over twenty years ago, I was Graduate Director of Admissions.  One of my favorite strategies was to take strong candidates who applied ...