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Economy

December 2, 2014

Cities Can Fight 'Secular Stagnation' - Richard Florida, CityLab

After three-plus years of slow growth, persistently high unemployment, and perennially low consumer confidence, former Treasury Secretary and Harvard economics professor Larry Summ...

December 1, 2014

Inequality and Income for the Rich and Poor - Milanovic & Weide, VoxEU

A breakthrough in understanding the link between growth and inequality came from ‘unpacking’ inequality – looking at inequality measures for different segments of...

November 29, 2014

Why Did Wages and Productivity Diverge? - Noah Smith, Bloomberg View

There’s a common myth that standard economics predicts that people are paid an amount of money equal to the value of the things they produce.  Actually, this isn’t...

November 26, 2014

Does Demography Explain Secular Stagnation? - The Economist

IN THE late 1930s economists trying to explain how a depression could drag on for nearly a decade wondered if the problem was a shortage of people. “A change-over from an inc...

November 26, 2014

Reviving Economic Growth: A Symposium - Cato Institute

In conjunction with the upcoming conference on the future of U.S. economic growth, the Cato Institute has organized a special online forum to explore possible avenues for pro-...

Most Recent Articles

November 26, 2014

The Stimulus Was a Smashing Success - Gary Burtless, RealClearMarkets

Earlier this month the Congressional Budget Office published new estimates of income losses and gains in the Great Recession and in the recovery up through 2011. It is an...

November 11, 2014

Time to Worry About Long-Term Unemployment - Mike Cassidy, RCPolicy

Vacations are different from weekends....

November 8, 2014

Employers Are Hiring but Not Raising Pay - Ben Casselman, FiveThirtyEight

For years now, economics reporters have been writing about the “slow but steady” recovery in the job market. Every piece of good news was tempered with a note of cautio...

November 7, 2014

Unemployment Unlikely to Improve - Regis Barnichon, Brookings Institution

This post discusses my monthly update of the Barnichon-Nekarda model. For an introduction to the basic concepts used in this post, read my introductory post (Full details are avail...

November 6, 2014

Why Voters Hate the Obama Economy - Jesse Solomon, CNN Money

According to CNN midterm election exit polling, seven in 10 voters said they were concerned about economic conditions....

November 4, 2014

Financial Crisis: Did We Learn Anything? - Peter Wallison, Inside Sources

If there were ever any doubt that the lesson of the financial crisis has not been learned, it was dispelled last month, when the six federal regulatory agencies charged by the Dodd...

November 3, 2014

Evaluating Quantitative Easing - James Hamilton, Econbrowser

Last week the U.S. Federal Reserve closed a chapter on the experiment with quantitative easing, just as the Bank of Japan opened a new one. Seems like a good time to comment on som...

November 3, 2014

Did Obama Fumble the Recovery? - Noam Scheiber, The New Republic

President Barack Obama got endless guff for pointing out the obvious in early October—that his “policies are on the ballot” this Election Day even if he...

November 1, 2014

The Economy Has Fallen and It Can't Get Up - Matt O'Brien, Wash Post

Remember 2007?It was a simpler time when Beyoncé topped the charts, Hillary was going to be the next president, and Apple's new phone was the talk of the tech world. Okay, s...

October 31, 2014

Reflections on 'Secular Stagnation' - Lawrence Summers, VoxEU

The notion that Europe and other advanced economies are suffering secular stagnation is gaining traction. This column by Larry Summers – first published in the Vox eBook &ldq...

October 28, 2014

Why Has Wage Growth Stagnated? - James Sherk, The Federalist

By many measures the labor market is improving smartly. The unemployment rate dropped to 5.9 percent in September—not far fromthe level many economists consider typical ...

October 28, 2014

Great Recession: Have We Come Back Yet? - Ben Steverman, Bloomberg

In October 2007, U.S. stocks were hitting an all-time high, jobs were plentiful and homes were expensive. Two months later, the Great Recession began to eviscerate the economy, ult...

October 28, 2014

The New Digital Intellectual Property Enforcer - Mytheos Holt, RCPolicy

Do you know where your e-mail account is located? No, "the Internet" is not a valid answer. More specifically, do you know on which of Google's many servers your Gmail account is p...

October 24, 2014

The Geography of Joblessness - The Economist

IN THE OECD, a club mostly of rich countries, nearly 45m people are unemployed. Of these, 16m have been seeking work for over a year. Many put this apparently intractable scourge d...

October 22, 2014

Obamacare Continues To Hurt Employment - John R. Graham, Daily Caller

Many health-policy analysts, lulled into complacency by the fact that employer-based health benefits have not vanished in a puff of smoke in Obamacare’s first year, insist th...

October 21, 2014

How to Compare Productivity With Compensation - Scott Winship, Forbes

Whenever those who believe inequality is the defining challenge of our time want to make a supposedly slam-dunk case that inequality has eaten into the incomes of people below the ...

October 20, 2014

Big Cities Are Job Generators - Richard Florida, CityLab

The fallout from the Great Recession continues to reset America’s economic geography....

October 18, 2014

Inclusive Growth: Some Good News - Jason Furman, Milken Institute

In this issue of the Milken Institute Review, Jason Furman, chairman of President Obama’s Council of Economic Advisers, documents the alarming stagnation of middle-class...

October 18, 2014

Economic Opportunity and Inequality - Janet Yellen, Federal Reserve

The distribution of income and wealth in the United States has been widening more or less steadily for several decades, to a greater extent than in most advanced countries.1 T...

October 17, 2014

Obama's Unemployment Crusade - Eric Pianin, Fiscal Times

A rural telephone company called Frontier Communications has intentionally hired more than 250 long-term unemployed since January. KPMG, the behemoth auditing and tax advisory serv...

October 16, 2014

Global Economy: Push the Panic Button - Matthew Yglesias, Vox

After a summer of mostly good news about the American economy, observers and financial markets are suddenly in a renewed state of panic this October. The fall started out looking n...

October 15, 2014

A Broken Labor Market for Non-College Men - Louis Johnston, MinnPost

Last week, the Minnesota Economic Association held its annual meeting, which it does every October. I look forward to it every year, since the conference holds a special ...

October 13, 2014

Why Aren't Wages Rising? - Sergio Hernandez, The Week

When President Obama delivers a speech about the economy, he never utters a "sound bite that declares America's storms have passed," said Alexis Simendinger at Real Clear...

October 13, 2014

The Great Mortgaging - Oscar Jorda et al., VoxEU

The Global Crisis prompted Lord Adair Turner to ask if the growth of the financial sector has been socially useful, catalysing an ongoing debate. This column turns to economic hist...

October 13, 2014

What if We Gave CEOs' Pay to Workers? - Mark J. Perry, AEIdeas

As I’ve reported before on CD, the AFL-CIO Executive Paywatch website decries the fact that in 2013 the CEO-to-worker pay ratio was 331:1, based on a comparison of the average ...

October 10, 2014

Creating Opportunity for Millennials - Council of Economic Advisers

Last week, President Obama put forth his vision for continuing to build on the foundation we’ve laid for a strong, durable economy with secure middle class jobs. Thanks to th...

October 10, 2014

Inflation and Unemployment - Dean Baker, CEPR

There's an old saying in economics that it doesn't matter if what you say is right, what matters is if the right person says it. I was reminded of this line when I read Matt O'Brie...

October 9, 2014

Inequality and Growth Are Connected - Price & Boushey, Equitable Growth

In the mid-20th century, economists began witnessing inequality’s decline in the developed world. Prior to the two World Wars and Great Depression, rising inequality was char...

October 9, 2014

Busts Hurt More Than Booms Help - De Neve & Norton, VoxEU

How do macroeconomic fluctuations affect individual welfare? Nobel laureate Robert Lucas famously suggested that the cost of business cycles in terms of consumption is insignifican...

October 8, 2014

ACA and the Economics of Part-Time Work - Casey Mulligan, Mercatus

Starting this year, the United States’ working population will face three major employment disincentives resulting from the very benefits the Affordable Care Act (ACA) provid...

October 6, 2014

The Rise and Likely Fall of the Talent Economy - Roger L. Martin, HBR

When Roberto Goizueta died of cancer in 1997, at the age of 65, he was a billionaire. Not bad for a Cuban émigré who had come to the United States as a teenager. He w...

October 6, 2014

Energy and the Limits of Growth - Mark Buchanan, Bloomberg View

For all their calculating nature, economists are surprisingly optimistic about humanity's ability to have as much prosperity as it wants. Express concern about the negative impact ...

October 6, 2014

The Triumph of Muddle-Nomics - Robert Samuelson, Washington Post

I have been reading Martin Wolf's "The Shifts and the Shocks," a detailed analysis of the 2008-09 financial crisis and its aftermath. Wolf is the chief economic columnist of the Fi...

October 4, 2014

Cutting Unemployment: Obama vs. Reagan - Phillips & Karaian, Quartz

When it comes to lowering the US unemployment rate, President Barack Obama has done just as well as the revered conservative icon Ronald Reagan....

October 3, 2014

The Disappearance of Routine Jobs - Matias Cortes et al., VoxEU

As routine tasks are increasingly automated, middle-wage jobs are becoming rarer. This column documents the changes in labour-market dynamics behind polarisation, and investigates ...

October 2, 2014

Five Policies to Reduce Gas Prices - Nicolas Loris, Daily Signal

Sick of paying too much at the pump?If you are, there’s good news: There are policies Congress and the Obama administration could implement that likely would lead to lower pr...

October 2, 2014

Still No Recovery for Entrepreneurship - Ben Casselman, FiveThirtyEight

More Americans are finding jobs. But so far, at least, they don’t appear to be starting more businesses....

October 2, 2014

Economic Liberty and the Constitution - Larkin et al., Heritage Foundation

Lawyers sometimes refer to bodies of law by mentioning the name of one or more parties to a decision of the Supreme Court of the United States that has become so well known that it...

October 2, 2014

Five Reasons Americans Can't Find Jobs - Peter Morici, RealClearPolitics

Friday, the Labor Department is expected to report the economy added about 215,000 jobs in September, about half of what is needed each month to bring unemployment down to pre-fina...

October 1, 2014

Helicopter Money: The Best Policy - Bossone et al., VoxEU

High debt and deflation have afflicted Japan, the Eurozone, and the US. However, the implemented so far monetary and fiscal policies have been disappointing. This column discusses ...

September 30, 2014

Subprime Loans Are Driving the Economy Again - Matt Phillips, Quartz

America’s consumer spending—which is about about 70% of all economic activity in the US—is once again being driven by a subprime lending boom....

September 26, 2014

Hate Unemployment, Not the Unemployed - George Wentworth, NELP

Last week, speaking before the American Enterprise Institute, Speaker John Boehner was asked about a recent speech Rep. Paul Ryan gave on repairing the safety net and helping famil...

September 24, 2014

Is MetLife 'Systemically Important'? - Peter Wallison, RealClearMarkets

Earlier this month, the Financial Stability Oversight Council (FSOC) preliminarily designated MetLife as a systemically important financial institution, or SIFI. The FSOC is a new ...

September 22, 2014

Skills Gaps, Shortages, and Mismatches - Peter Cappelli, VoxEU

Many high-paying jobs in the US cannot be filled, raising concerns about an existing skills gap. However, this column does not find evidence in support of serious skills gap or sho...

Yahoo News - US Economy

Ebola costs Liberia, Guinea, Sierra

By Peter Cooney and Alphonso Toweh WASHINGTON/MONROVIA - Ebola is costing the three West African cou...