NYT - Economy

Bloomberg View

Calculated Risk

  • !Kansas City Fed: Regional Manufacturing Activity "Continued Solid Growth" in February
    From the Kansas City Fed: Tenth District Manufacturing Posted Continued Solid GrowthThe Federal Reserve Bank of Kansas City released the February Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Res…
    - 16 mins ago 22 Feb 18, 4:00pm -
  • !Weekly Initial Unemployment Claims decrease to 222,000
    The DOL reported:In the week ending February 17, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 7,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 230,000 to 22…
    - 3 hours ago 22 Feb 18, 1:33pm -
  • !Thursday: Unemployment Claims
    From Matthew Graham at Mortgage News Daily: Mortgage Rates Hit New 4-Year HighsMortgage rates continued higher today following the release of the Minutes from the Federal Reserve's (aka "The Fed") most recent policy meeting. The Fed was slightly mor…
    - 15 hours ago 22 Feb 18, 1:18am -
  • !House Prices and Inventory
    This will be an interesting year for housing. With the tax changes - and rising mortgage rates - a key question is: What will be the impact on housing?The answer is no one knows for sure. For the possible impact of tax changes on housing, see: Ques…
    - 18 hours ago 21 Feb 18, 9:57pm -
  • !FOMC Minutes: "Labor market continued to strengthen and that economic activity expanded at a solid rate"
    Still on pace for 3 or 4 rate hikes in 2018, although few signs of "broad-based pickup in wage growth".  Some excerpts:From the Fed: Minutes of the Federal Open Market Committee, January 30-31, 2018: In their discussion of the economic situation and…
    - 21 hours ago 21 Feb 18, 7:08pm -

The Undercover Economist

  • The case for ending Amazon’s dominance
    It should not be difficult to love Amazon. To consumers, it offers choice and convenience. Countless internet ventures have relied on its cheap, flexible cloud computing services to start and scale up. Amazon makes titans such as Walmart work hard fo…
    - 6 days ago 16 Feb 18, 1:00pm -
  • Review of The Tyranny of Metrics by Jerry Muller
    Jerry Z Muller’s latest book is 220 pages long, not including the front matter. The average chapter is 10.18 pages long and contains 17.76 endnotes. There are four cover endorsements and the book weighs 421 grammes. These numbers tell us nothing, o…
    - 7 days ago 15 Feb 18, 1:50pm -
  • The Logic of Failure
    The most original book I read this week – after a recommendation from the always-worth-listening-to Cass Sunstein – was The Logic of Failure (UK) (US) by Dietrich Dorner. Dorner sets experimental subjects difficult simulation games (they all soun…
    - 9 days ago 13 Feb 18, 1:18pm -
  • Lessons from history in how to spot a bubble
    Here are three noteworthy pronouncements about bubbles. “Prices have reached what looks like a permanently high plateau.” That was Professor Irving Fisher in 1929, prominently reported barely a week before the most brutal stock market crash of th…
    - 13 days ago 9 Feb 18, 1:06pm -
  • Books about money, the mind, and the planet
    A range of books passing across the desk at the moment! I’ve enjoyed Dan Ariely and Jeff Kreisler’s Small Change (US edition is Dollars and Sense) which is a mashup of all the best in behavioural economics research, whimsical chat and financi…
    - 16 days ago 6 Feb 18, 11:45am -

Marginal Revolution

  • !Quinn Slobodian’s *Globalists*
    The subtitle is The End of Empire and the Birth of Neoliberalism.  Imagine a novel and interesting coverage of the post-war Austrian School, here relabeled the “Geneva School,” a well-done partial history of the WTO and EU, and a book where the…
    - 3 hours ago 22 Feb 18, 12:51pm -
  • !Thursday assorted links
    1. NPR does a round of overrated vs. underrated with me. 2. MIE: David Attenborough raves.  That last word is a noun, by the way. 3. Thread on mass shooting and contagion effects. 4. Animals are losing their vagility (NYT). 5. Against cuteness.The…
    - 9 hours ago 22 Feb 18, 7:17am -
  • !What I’ve been reading
    1. Jörn Leonhard, Pandora’s Box: A History of the First World War.  This is probably the meatiest and most comprehensive WWI book yet published.  It covers the origins of the war, preparation for fighting, public reactions, war aims, the course…
    - 11 hours ago 22 Feb 18, 5:18am -
  • !Wednesday assorted links
    1. The Norwegian century continues (WSJ): “When Norwegian athletes take to the ice and snow at the Olympics, they don’t mess around: the Scandinavian nation of just 5 million has won the most medals of any country in the history of the Winter…
    - 22 hours ago 21 Feb 18, 6:00pm -
  • Are mark-ups rising?
    In a new Stigler Center working paper, I) challenge this explanation by showing that public-firm market power has not substantially increased in recent decades. Using financial statement data from public firm filings and closely following De Loec…
    - 1 day ago 21 Feb 18, 12:44pm -

Beat The Press

Paul Krugman

Economists View

  • On the Link between US Pay and Productivity
    Anna Stansbury and Lawrence Summers at VoxEU: On the link between US pay and productivity, by Anna Stansbury and Lawrence Summers, VoxEU: Pay growth for middle class workers in the US has been abysmal over recent decades – in real...
    - 2 days ago 20 Feb 18, 7:08pm -
  • Links for 02-20-18
    Come the Recession, Don’t Count on That Safety Net - The New York Times Absolute poverty: when necessity displaces desire - Microeconomic Insights Do Job Market Networks Help Recovery from Mass Layoffs? - FRBSF Interest Ratess and Exchange Rates Be…
    - 2 days ago 20 Feb 18, 7:08pm -
  • Inflation, General Data Flow, Fiscal Stimulus, And Implications For Monetary Policy
    Tim Duy: Inflation, General Data Flow, Fiscal Stimulus, And Implications For Monetary Policy, by Tim Duy: The data flow remains supportive of the Fed’s forecast of sustained moderate growth. A spike in prices, however, drove core CPI inflation to t…
    - 2 days ago 20 Feb 18, 7:08pm -
  • Links for 02-19-18
    Trump’s Twin Deficits (Wonkish) - Paul Krugman Income inequality and aggregate demand - Equitable Growth What Do Trade Agreements Really Do? - NBER Why Economists Are Worried About International Trade - Greg Mankiw Trump’s Tax Success Is at the E…
    - 3 days ago 19 Feb 18, 7:56pm -
  • Paul Krugman: Budgets, Bad Faith and ‘Balance’
    "our job, whether we’re policy analysts or journalists, isn’t to be “balanced”; it’s to tell the truth": Budgets, Bad Faith and ‘Balance’, by Paul Krugman, NY Times: Over the past couple of months Republicans have passed or proposed thr…
    - 6 days ago 16 Feb 18, 8:39pm -

Naked Capitalism

Liberty Street Economics

  • !Just Released: Puerto Rico and the U.S. Virgin Islands after Hurricanes Irma and Maria
    An examination of the fallout from Hurricanes Irma and Maria on the economies of Puerto Rico and the U.S. Virgin Islands was the focus of an economic press briefing today at the New York Fed. Both U.S. territories were suffering from significant econ…
    - 59 mins ago 22 Feb 18, 3:17pm -
  • The Evolution of Mexico’s Merchandise Trade Balance
    Mexico runs a trade surplus with the United States owing to oil exports and cross-border supply chains, with imported U.S. components assembled in Mexico and then exported back to the United States. At the same time, Mexico runs a large trade deficit…
    - 1 day ago 21 Feb 18, 12:00pm -
  • Just Released: Very Favorable Business Climate Indicated in February Business Leaders Survey
    The region’s services sector continues to experience solid growth, according to the New York Fed’s February Business Leaders Survey. The survey’s business climate index reached a record high, and the activity, employment, and capital spending i…
    - 6 days ago 16 Feb 18, 1:45pm -
  • Landing a Jumbo Is Getting Easier
    Andreas Fuster, James Vickery, and Akhtar Shah The United States relies heavily on securitization for funding residential mortgages. But for institutional reasons, large mortgages, or...
    - 8 days ago 14 Feb 18, 12:00pm -
  • Just Released: Great Recession’s Impact Lingers in Hardest-Hit Regions
    The New York Fed’s Center for Microeconomic Data today released our Quarterly Report on Household Debt and Credit for the fourth quarter of 2017. Along with this report, we have posted an update of state-level data on balances and delinquencies for…
    - 9 days ago 13 Feb 18, 4:00pm -

Freakonomics

  • Should We Really Behave Like Economists Say We Do? (Rebroadcast)
    Season 7, Episode 12  You have perhaps come across the phrase homo economicus, which describes a model for human behavior as seen through the lens of economics. In this hour, you’ll hear Freakonomics Radio producer Greg Rosalsky embark on a long a…
    - 91 days ago 23 Nov 17, 11:00pm -
  • Is America Ready for a “No-Lose Lottery”? (Update)
    Most people don’t enjoy the simple, boring act of putting money in a savings account. But we do love to play the lottery. So what if you combine the two, creating a new kind of savings account with a lottery payout? The post Is America Ready for a…
    - 92 days ago 23 Nov 17, 4:00am -
  • An Astronaut, a Catalan, and Two Linguists Walk Into a Bar…: TMSIDK Episode 36
    Why New York has skinny skyscrapers, how to weaponize water, and what astronauts talk about in space. John McWhorter is co-host; Bari Weiss is live fact-checker.The post An Astronaut, a Catalan, and Two Linguists Walk Into a Bar…: TMSIDK Episode 3…
    - 95 days ago 20 Nov 17, 1:00am -
  • Why Doesn’t Everyone Get the Flu Vaccine?
    Season 7, Episode 11 This week on Freakonomics Radio: what if there were a small step you could take that would prevent you from getting sick, stop you from missing work, and help ensure you won’t play a part in killing babies, the sick, and the e…
    - 98 days ago 16 Nov 17, 11:00pm -
  • Nurses to the Rescue!
    They are the most-trusted profession in America (and with good reason). They are critical to patient outcomes (especially in primary care). Could the growing army of nurse practitioners be an answer to the doctor shortage? The data say yes but — b…
    - 98 days ago 16 Nov 17, 4:55am -

Conversable Economist

  • !A Grasshopper View: The 2018 Economic Report of the President
    The Council of Economic Advisers was established by the Employment Act of 1946 as a separate office in the White House. Along with an ongoing stream of stream of reports and advice, the CEA also produces an annual report, and the 2018 Economic Report…
    - 2 hours ago 22 Feb 18, 2:00pm -
  • Brainstorming Anti-Poverty Programs
    There are legitimate concerns about how the poverty line is set. It was set back in the early 1960s and adjusted for inflation since then, but without regard for other changes in the economy. It doestn't vary according to regional differences in the…
    - 1 day ago 21 Feb 18, 4:10pm -
  • Pollutant Taxes on Energy: Why So Focused on Roads?
    Most countries of the world tax oil products, especially the gasoline used in the road sector, but impose only very low taxes on other fossil fuels.  The OECD compiles a Taxing Energy Use Database that includes energy use and energy taxes for 42 cou…
    - 2 days ago 20 Feb 18, 2:00pm -
  • Some Patterns for Same-Sex Households
    A couple of decades back, it was  hard to find systematic and reliable information on the economic and family characteristics of same-sex couples. However, the US Census has been collecting baseline data for some year now, and just released collects…
    - 3 days ago 19 Feb 18, 6:00pm -
  • "The Great Advantage of the Americans Consists in Their Being Able to Commit Faults Which They may Afterward Repair"
    Why is it that the United States (or democracies in general) can in many cases pass foolish bad laws or make a  misguided selection of leaders--but nonetheless continue over time to flourish over a sustained time? Alexis de Tocqueville tackles that…
    - 3 days ago 19 Feb 18, 2:00pm -

The Economist

VOX - CEPR's Policy Portal

  • !Financing intangible capital
    Investment is shifting from tangible physical assets to intangible goods like software, data, and R&D. This column analyses the impact of this shift on the structure of firm financing. The financial system’s shift from public to private equity is,…
    - 16 hours ago 22 Feb 18, 12:00am -
  • Bank bail-ins: Lessons from the Cypriot crisis
    Europe’s new framework for resolving banks includes a ‘bail-in’ mechanism that aims to ensure that banks’ shareholders and creditors pay their share of costs, and which was first used to resolve the 2013 banking crisis in Cyprus. This column,…
    - 2 days ago 21 Feb 18, 12:00am -
  • On the link between US pay and productivity
    Since 1973, there has been divergence between labour productivity and the typical worker’s pay in the US as productivity has continued to grow strongly and growth in average compensation has slowed substantially. This column explores the causes an…
    - 3 days ago 20 Feb 18, 12:00am -
  • Growth-equity trade-offs in structural reforms
    While there is consensus that structural reforms can increase growth, there is also a fear that certain reforms can exacerbate inequality. This column argues – based on a dataset covering financial, institutional, and real sector reforms – that…
    - 4 days ago 19 Feb 18, 12:00am -
  • The effectiveness of branded search ads
    Measuring the returns to search engine marketing accurately is difficult, but one study suggested that if eBay were to suspend its branded search ads, the volume of traffic to the site would remain virtually unchanged. Based on a field test involving…
    - 5 days ago 18 Feb 18, 12:00am -

EconLog

  • !A Balanced View of Trump, by David Henderson
    I rarely find a balanced view of Trump. I gave one about a month ago. I've now found another.Here's Richard Brookhiser on what William F. Buckley, Jr. thought of Trump:Buckley wrote about Trump the politician once, in an article for Cigar Aficionad…
    - 11 hours ago 22 Feb 18, 4:59am -
  • !Do deficits matter?, by Scott Sumner
    I am seeing a disturbing rise in "free lunch" thinking. One place this increasingly shows up is in the case of "deficits". People seem to have trouble grasping that deficit spending implies future austerity. Let's start with an electric company.…
    - 19 hours ago 21 Feb 18, 9:16pm -
  • !Harassment: A Keyhole Solution, by Bryan Caplan
    Way back in The Undercover Economist, Tim Harford taught us the wonder of "keyhole solutions" for social ills:Keyhole surgery techniques allow surgeons to operate without making large incisions, minimizing the risk of complications and side effects.…
    - 21 hours ago 21 Feb 18, 7:06pm -
  • Reminder: Talk at Webber International University, by David Henderson
    I will be speaking on Thursday at 7:00 p.m. at Webber International University, Babson Park, Florida.Topic: Economic Inequality: Popular Misunderstandings and Important FactsPlace: Yentes Conference Center1201 N Scenic HwyBabson Park, FL 33827…
    - 1 day ago 21 Feb 18, 2:23pm -
  • Henderson on Economic Inequality, by David Henderson
    [L]et us consider two historical figures of twentieth-century American history. The first came to prominence in the late 1940s, when he invented a light one-man chainsaw, and sold more than 100,000 of them at a price that made him quite rich. That a…
    - 2 days ago 21 Feb 18, 12:58am -