macroeconomics
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Latest blogosphere posts tagged “macroeconomics”
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Peak Oil
Aguanomics —
Authority: 598
This [unedited] guest post is by a student in my EEP100 class ( background post ). Please praise/critique/comment on its economic quality and importance to you. Andrew Clancy says: How can our economy recover from recession if the price of oil continues to climb? In 2007 we entered what appears to be a perfect ...16 hours ago -
Unemployment from 3.6% to 48.5%
Donald Marron —
Authority: 571
The New York Times has a fascinating graph showing how the unemployment rate has grown for every measured demographic group during the recession (ht: Ray). Nationwide, unemployment has averaged 8.6% over the past twelve months, but that average conceals enormous variation. At one extreme, unemployment has averaged ...16 hours ago -
Latest from Merle Hazard
Donald Marron —
Authority: 571
Country singer Merle Hazard has gone gospel for his latest tune, “Old Time Recession”: Certainly the first time I’ve ever heard faux spiritual lyrics about the Fed buying questionable mortgage securities. I still believe, however, that Merle’s best ditties are the tunes “Inflation or Deflation” ...16 hours ago -
Things That Don’t Make Sense, Yuan Edition
The Baseline Scenario —
Authority: 705
“World Bank Chief Economist Justin Yifu Lin staked out a strong position against forcing China to let its currency appreciate as a way to rebalance the world economy. “’Currency appreciation in China won’t help this imbalance and can deter the global recovery,’ he said in a lecture Monday at Hong Kong ...23 hours ago -
Is That a Hissing Sound in Commodities?
MetalMiner —
Authority: 558
Three weeks ago my colleague Stuart reported that Goldman Sachs may have provided the market with its indication of where it sees commodities headed at least through the end of the year. Speaking about Goldman Sachs, Stuart posted, “The change is reflected in two ways, first, a reduction of 32% in their VaR (value ...23 hours ago -
Productivity and Layoffs
The Baseline Scenario —
Authority: 705
One reason I like reading Brad DeLong is that he’s never afraid to admit a mistake — even when it isn’t technically a mistake, just a question of interpretation. Here is his comment on productivity growth of 9.5% (annual rate) in the third quarter: “Back in the 1930s there was a Polish Marxist economist, ...1 day ago -
Macroeconomic Disconnects, by Arnold Kling
EconLog —
Authority: 697
Scott Sumner brings up some difficulties for anyone who would argue that monetary policy is not a sufficient tool for fighting the recession. He is not arguing from his yet-to-be-articulated new paradigm. He is stating traditional macro.2 days ago -
The economics of Jesus
Castle of Nutshells —
Authority: 483
I came across this very old post on Jesus and macroeconomics : No servant can serve two masters. He will either hate one and love the other, or be devoted to one and despise the other. You cannot serve God and wealth. Luke 16: 13 Jesus probably didn’t know much about macroeconomics, even though he was God. But ...2 days ago -
My Visit to the US Treasury, Part 6
The Aleph Blog —
Authority: 583
Now, none of us knew when we came that only bloggers were invited. Personally, I expected it to be a broader press briefing that some bloggers could come to as well. “Deep background” is well understood to the press, but new to bloggers. My blogging friends at the meeting can correct me, but all of us were ...2 days ago -
The opportunity costs of cash-for-clunkers
Aguanomics —
Authority: 598
This [unedited] guest post is by a student in my EEP100 class ( background post ). Please praise/critique/comment on its economic quality and importance to you. Hui Gao says: “Clunker for Cash” was one of the government programs to stimulate the down turn economy recently. The incentive of this program ...2 days ago -
My Visit to the US Treasury, Part 5
The Aleph Blog —
Authority: 583
One other blogger took his nameplate with him — I’m not sure who; the rest left theirs. But this is what was in front of each one of us as we sat down to discuss matters at the US Treasury. Treasury officials had similar nameplates. It dictated where we would sit as well. From the front of the room on the ...2 days ago -
Mises Featured in the Journal
ThinkMarkets —
Authority: 526
by Jerry O’Driscoll In today’s Wall Street Journal , hedge-fund founder Mark Spitznagel celebrates Ludwig von Mises as “The Man Who Predicted the Depression.” Spitznagel opens by observing that “Ludwig von Mises was snubbed by economists world-wide as he warned of a credit crisis in the 1920s. We ...2 days ago -
, by Arnold Kling
EconLog —
Authority: 697
If all goes well this link will take you to an article (with cool charts!) where I make an empirical case for telling the Recalculation story rather than pretending that we have the same economy that existed in the 1930s when John Maynard Keynes developed his model. Im scheduling this post to appear on Saturday, ...2 days ago -
The OECD in Nominal Spending Perspective
IPE at UNC —
Authority: 430
The above picture, from David Beckworth , is shocking. It shows that nominal spending (total demand in an economy) among OECD countries had a jarring drop last year, and that this is the proximate cause of the economic slowdown. (For a short post on why nominal spending matters, see this post ). Beckworth is arguing ...3 days ago -
Double-Digits, Yikes!
Twenty-Cent Paradigms —
Authority: 117
I had hoped we wouldnt get here... Not a nice headline number from the BLS today - the unemployment rate hit 10.2% in October. Payroll employment also fell by 190,000. The apparent discrepancy between the relatively modest decline in payrolls and the big jump in the unemployment rate is explained by the fact ...3 days ago -
Deja Vu All Over Again?
Donald Marron —
Authority: 571
Earlier this week, the Treasury released its quarterly update about its borrowing requirements and its strategy for meeting them. I haven’t had time to review all the documents , but I did skim through the minutes of the meeting of the Treasury Borrowing Advisory Committee (TBAC), which was held on November 3. ...3 days ago -
Two Brazilian Plays to Beat the Market
Penny Sleuth —
Authority: 123
But you’re not out of luck just yet… Many countries around the world will be able to steer around this extended recession. Some are even in prime position to explode. And it’s not as difficult to invest abroad as it may seem. Today, it’s as effortless as buying an American Depositary Receipt — same thing ...3 days ago -
My Visit to the US Treasury, Part 4
The Aleph Blog —
Authority: 583
So, who did I recommend for the next meeting at the Treasury? (I think there will be one.) Economists View http://economistsview.typepad.com/ Cafe Americain http://jessescrossroadscafe.blogspot.com/ Market-Ticker http://market-ticker.denninger.net/ Econbrowser http://www.econbrowser.com/ Greg Mankiw’s Blog ...4 days ago -
How to fight government corruption whether on Earth or Mars
Independent Indian: Work & Life of Dr Subroto Roy —
Authority: 124
From Facebook: Subroto Roy believes — partly from personal experience — that there is only one really sustainable way to fight government corruption whether in Afghanistan , Pakistan, India, the UK, the USA, Russia, China or Mars: tough and clean government accounting and audit processes allied with an ...4 days ago -
Wisdom Worth Repeating, by Arnold Kling
EconLog —
Authority: 697
Tyler Cowen repeats a tweet, and I will too. It comes from Masonomist Garett Jones . Workers mostly build organizational capital, not final output. This explains high productivity per worker during recessions. This is yet another difference between the labor force today and the labor force of the 1930s. Back ...4 days ago