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Economy

May 21, 2015

Trade Agreements' Broken Promises to Labor - Sen. Elizabeth Warren

United States Senator Elizabeth Warren (D-Mass.) today released a report highlighting more than two decades of failed enforcement by the United States of labor and environmental st...

May 20, 2015

A Bogus Case Against the Trade Deal - Ruth Marcus, Washington Post

One of the most seemingly compelling arguments against the free trade legislation now before Congress turns out to be largely bogus....

May 20, 2015

Why I'm Concerned About the TPP - Sen. Barbara Boxer, Huffington Post

They say timing is everything in life. Well, if that's true, the timing of this legislation to approve fast-track trade authority could not be worse for middle-class families....

May 20, 2015

Will the U.S. Ever Grow Fast Again? - Noah Smith, Bloomberg View

We normally assume that most recessions end in due time, and that the U.S. economy returns to its old trend even after an extended slump. George Mason University economist and blog...

May 19, 2015

In Defense of NAFTA - The Editors, Bloomberg View

The fate of America's most important free-trade agreement this century has become caught in a debate over its most important free-trade agreement of the last century. When opponent...

Most Recent Articles

May 19, 2015

The Puzzle of Weak First-Quarter GDP Growth - Rudebusch et al., FRBSF

The official estimate of real GDP growth for the first three months of 2015 was shockingly weak. However, such estimates in the past appear to have understated first-quarter growth...

May 19, 2015

Free Trade and Human Slavery - Sister Jeanne Christensen, Sisters of Mercy

I am deeply troubled by the recent turn of events in the Senate as the Trade Promotion Authority (TPA) bill is debated. Initially, I was encouraged to see the Senate Finance Commit...

May 18, 2015

Don't Be So Sure the Economy Will Return to Normal - Tyler Cowen, NYT

It is hard to avoid the feeling that our current economic problems are more than just a cyclical downturn. We know that the economy has gone through some bad times. But what exactl...

May 13, 2015

Rewriting the Rules of the Economy - Roosevelt Institute

In this new report, the Roosevelt Institute exposes the link between the rapidly rising fortunes of America’s wealthiest citizens and increasing economic insecurity for every...

May 13, 2015

Kentucky's Workforce Experiment - Nancy Cook, National Journal

The two mayors came up with the idea at a basketball game, of all places....

May 13, 2015

Special Interests vs. Trade Authority - Simionenko & Murray, RCPolicy

With the United States currently negotiating two mammoth trade agreements, President Obama being granted Trade Promotion Authority (TPA) is far from a done deal. Opposition is noth...

May 12, 2015

Productivity Is Down; Are Workers Slacking? - Bob McTeer, NCPA

U.S. labor productivity fell at a 1.9 percent annual rate in the first quarter, the second quarterly decline in a row and the first back to back drop since 2006. According to the o...

May 12, 2015

The Dynamic Benefits of Imports - Ryan Olson & Anthony B. Kim, Heritage

Advocates of free trade agreements often assert that trade is beneficial because it gives American businesses better access to the world’s consumers, 95 percent of whom live ...

May 11, 2015

Trade and Labor Market Dynamics - Lorenzo Caliendo et al., St. Louis Fed

We develop a dynamic labor search model where production and consumption take place in spatially distinct labor markets with varying exposure to domestic and international trade. T...

May 8, 2015

Democratizing Trade for the 99 Percent - Ed Gerwin, PPI

Trade critics often charge that proposed trade agreements like the Trans Pacific Partnership (TPP) essentially serve the one percent—while harming virtually everyone else. Bu...

May 1, 2015

Thinking About Major Trade Deals - Matthew Yglesias, Mother Jones

There is almost nothing in the whole wide world that economists like better than recounting David Ricardo's basic case for free trade. And this is sort of understandable. It's a re...

April 29, 2015

The Gains from Trade in a New Model - David Rosnick, CEPR

This paper takes a careful look at a recent International Monetary Fund (IMF) Working Paper that claims to find significant gains for liberalization of trade through the World Trad...

April 29, 2015

The Dark Side of Free Trade - Noah Smith, Bloomberg View

Harvard economist N. Gregory Mankiw -- my doctoral adviser’s doctoral adviser -- is a great researcher, wickedly smart and possessed of exceptional intuition. His introductor...

April 27, 2015

Why President Obama Is Wrong on Trade - David Singh Grewal, Huff Post

International Trade Law was surely not among the courses that President Obama taught as a law professor at the University of Chicago. In fact, I suspect he never took it as a stude...

April 25, 2015

The Value of Free Trade - N. Gregory Mankiw, New York Times

If Congress were to take an exam in Economics 101, would it pass? We are about to find out....

April 24, 2015

Teens Who Drop Out to Work - Molly M. Scott et al., Urban Institute

Graduating from high school is vital to young people’s life chances. Much of the current policy conversation around helping youth stay the course focuses on disconnected yout...

April 24, 2015

A Correlation Between Immigration, Wages - Rachel Stoltzfoos, DCNF

Wages and share of income for the bottom 90 percent of American wage-earners declined over the past 40 years, as the foreign-born population increased dramatically, data requested ...

April 24, 2015

Copyright and Trade - Terry Hart, Copyhype

Last Thursday, Senators Hatch and Wyden and Representative Ryan introduced the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, commonly referred...

April 23, 2015

A Bipartisan Breakthrough on Trade - Pinar Cebi Wilber, ACCF

April 23, 2015

Rethinking Macroeconomic Policy - Olivier Blanchard, VoxEU

This year’s IMF conference, “Rethinking Macroeconomic Policy III”, gathered many of the world’s greatest economists to reflect on the state of post-Global C...

April 22, 2015

The Long-Term Unemployment Trap - Nancy Cook, National Journal

Economists like to say that the Great Recession technically ended years ago, but that wonky delineation is of little comfort to the 2.6 million Americans who have been out of work ...

April 21, 2015

'Fast Track' Trade: Environmental Concerns - Jake Schmidt, NRDC

A "fast track" trade bill was just introduced that would expedite approval of two massive trade agreements. We know enough about these pending trade agreements - one between the U....

April 16, 2015

Making Retail Jobs Good for Women - Ruetschlin & Hiltonsmith, Demos

In April 2015, Walmart implemented a $9 an hour minimum wage for all of its 1.3 million U.S. workers, and committed to pay all current workers at least $10 per hour by February 201...

April 10, 2015

The End of Asymmetric Information? - Tabarrok & Cowen, Cato Unbound

Might the age of asymmetric information – for better or worse – be over?  Market institutions are rapidly evolving to a situation where very often the buyer and th...

April 8, 2015

Obama Spurns Liberals With a Trade Deal - Danny Vinik, The New Republic

Last month, at the Peterson Institute for International Economics in Washington, D.C., AFL-CIO President Richard Trumka gave a 29-minute speech in opposition to the Trans...

April 7, 2015

How the Rich and Poor Earn and Spend Money - Josh Zumbrun, WSJ

For many Americans, the rise in food and housing prices is a tough squeeze. That’s because—even in an era with low overall inflation—low-income Americans spend a ...

April 7, 2015

The Recession and Long-Term Unemployment - Nancy Cook, CityLab

The number of Americans who have been out of work for six months or more steadily declined within the last year by 1.1 million people. The national unemployment rate fell, too, to&...

March 27, 2015

Suburban Sprawl Is Stifling the Economy - Danielle Kurtzleben, Vox

As the nation's metro areas grow ever larger, the sprawling suburbs can come with all sorts of problems: endless commutes, growing pollution, and unwalkable neighborhoods, to name ...

March 27, 2015

Middle Class Jobs Are Still Lagging - Ben Casselman, FiveThirtyEight

The U.S. economy is starting to create more good-paying jobs. But the middle class is still lagging behind in both job growth and wages....

March 24, 2015

Unions Are Powerless; Workers Are Not - Megan McArdle, Bloomberg View

The long-simmering dispute between West Coast port owners and the International Longshore and Warehouse Union had already been settled, but everywhere I went at the Inter...

March 23, 2015

Beyond Free Trade vs. Protectionism - Michelle Wein, RealClearPolicy

There was a glimmer of hope as the year began that President Obama and Congress might be able to find common ground on trade policy, if on nothing else. In his State of the Union a...

March 21, 2015

The Agenda to Raise America's Pay - Economic Policy Institute

There is now widespread agreement across the political spectrum that wage stagnation is the country’s key economic challenge. Wages for the vast majority of American workers have...

March 20, 2015

Why Workers Won't Unite - Kim Phillips-Fein, The Atlantic

On a gusty April morning in 1914, a gun battle broke out between Colorado National Guardsmen and a group of striking coal miners. The strikers had been living in tents in...

March 18, 2015

Stagnant Wages: Fact or Fiction? - Salim Furth, Heritage Foundation

Wages have grown over the past few years at rates similar to historical trends. Even when including the Great Recession, the average annual growth rate has been positive. The frequ...

March 17, 2015

Are Men's Earnings Really Declining? - Scott Winship, Forbes

Over at Demos’s Policyshop blog, Matt Bruenig has a post up on whether the declining economic fortunes of men lower down the earnings distribution is behind the dec...

March 16, 2015

How to Survive a Robot Uprising - Robin Hanson, Reason

Martin Ford, author of Rise of the Robots, doesn't like the recent increase in U.S. wage inequality. So he wants to tax the rich more, to fund a basic income guarantee for the...

March 16, 2015

Unemployment Programs Exclude Many - Will Kimball & Rick McHugh, EPI

The Great Recession and its aftermath created severe challenges for unemployment insurance (UI) programs in the United States and for jobless workers relying upon them. In this bri...

March 14, 2015

Modeling the Foreclosure Crisis - Chatterjee & Eyigungor, Philadelphia Fed

The authors present a model of long-duration collateralized debt with risk of default. Applied to the housing market, it can match the homeownership rate, the average foreclosure r...

March 13, 2015

A Better Gauge of Labor Slack - Eric Morath, Wall Street Journal

The unemployment rate has fallen to a level that has some economists suggesting the U.S. is nearing “full employment,“ but the spread between that number and ...

March 10, 2015

Why Economic Policy Isn't Dynamc - Noah Smith, Bloomberg View

Samuel Johnson, the 18th-century English writer, once declared that “patriotism is the last refuge of a scoundrel.” But that was before there was such a thing as an eco...

March 10, 2015

Free-Market Economics Is Discredited - Jeff Madrick, American Prospect

Despite the practical failures of free-market economics, too many mainstream economists have continued to embrace simplistic ideas about how the economy works. Such ideas are often...

March 9, 2015

Is the Recovery Helping the Least Educated Most? - Dean Baker, CEPR

We all know that robots are making it impossible for people without a college degree to get jobs. That's a basic fact about the economy known to all right-thinking people. And, jus...

March 9, 2015

A Trade Deal Must Work for the Middle Class - Lawrence Summers, FT

Over the next few months the question of US participation in the Trans-Pacific Partnership trade deal is likely to be resolved one way or the other. It is, to put it mild...

March 7, 2015

No College Degree? You'd Better Know Excel - Max Nisen, Quartz

For all the focus on the job environment for college grads, millions of US workers have “middle skill jobs,” roughly categorized as jobs for those with m...

March 7, 2015

Five Takeaways From the Jobs Report - Kathleen Madigan, Wall St. Journal

On the surface it’s hard to put a bad spin on a February jobs report that shows employment grew by almost 300,000 and the jobless rate fell to the lowest in almost ...

Yahoo News - US Economy

U.S. offers Tunisia up to $500 mill

WASHINGTON (Reuters) - The United States is prepared to consider a loan guarantee to Tunisia of up t...