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Economy

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

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 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

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 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...

Most Recent Articles

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 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...

September 22, 2014

The Middle Class Hasn't Gotten a Raise in 15 Years - Ben Casselman, 538

In 1988, the typical American adult was 40 years old, white and married, with a high school diploma. If he was a man, he probably worked full time. If she was a woman, she probably...

September 22, 2014

The Next (Nasty) Economic Surprise? - Robert Samuelson, Washington Post

We live in the shadow of "secular stagnation," to use a phrase now fashionable among economists. Even assuming a full recovery from the Great Recession, it's widely expected that t...

September 22, 2014

Unemployment Benefits Reach a New Low - Paul Krugman, NYT

Thinking some more about John Boehner’s resurrection of the notion that we’re suffering weak job growth because people are living the good life on government benefits, and don...

September 20, 2014

Green Growth - Robert Pollin et al., Center for American Progress

The question for policymakers, and all other citizens, is no longer whether humans are changing our climate. The question now is, how we can stabilize an already-changing climate i...

September 16, 2014

The Roughed-Up American - Robert Samuelson, Washington Post

America's economy is improving, but the public mood is a lagging indicator. A Pew poll in late August found that Americans recognize that the job market has strengthened. Although ...

September 13, 2014

What We Didn't Learn From the Financial Crisis - Kurtzleben & Wolf, Vox

In the years since the financial crisis, countries have struggled to remove the causes of the most recent financial crisis. Thus far, they have failed. That's the view of Martin Wo...

September 12, 2014

High Housing Costs vs. California Growth - Carson Bruno, RCM

It's no secret. California is expensive. But is it a little more nuanced than that; coastal California is very expensive while inland California is just moderately expensive. Yet, ...

September 9, 2014

The Death of Interest Rates' 'Zero Bound' - Alex J. Pollock, AEIdeas

As shown by these recent quotes from The Wall Street Journal, we are getting used to the idea that interest rates can be negative. So why did so many economists assert confidently ...

September 8, 2014

53 Million Americans Are Now Freelancing - Freelancers Union

Freelancing is the new normal -- and we have the numbers to prove it....

September 6, 2014

Our Employment Situation Today - Jason Furman, White House

With today’s report, the economy has now added 10 million private-sector jobs over 54 straight months of job growth. This figure is a marker of the progress that has been made, b...

September 6, 2014

How Unemployment Myths Hurt the Jobless - Rob Garver, Fiscal Times

Extending benefits to unemployed workers beyond the 26 weeks provided by most states has little effect on the unemployment rate and essentially no impact on labor force partic...

September 5, 2014

The New Approach to Studying the Economy - Jared Bernstein, Wash Post

In a high-profile speech last month, Federal Reserve Chair Janet Yellen was bemoaning the fact that assessing labor market conditions is especially hard right now be...

September 3, 2014

Shocking the Economy Back to Life - Mark Thoma, MarketWatch

During the Great Recession, U.S. gross domestic production -- the nation's total output of goods and services -- dropped below the trend rate of growth that prevailed before the co...

September 2, 2014

We Need Faster Wage Growth - Elise Gould, Economic Policy Institute

The last year has been a poor one for American workers’ wages. Comparing the first half of 2014 with the first half of 2013, real (inflation-adjusted) hourly wages fell for w...

August 30, 2014

How Unemployment Affects Children - Lindner & Peters, Urban Institute

This study analyzes whether and how the event of a job loss in families with children changes family arrangements. Comparing outcomes for children whose parents become unemployed w...

August 29, 2014

Economic Growth Will Pick Up - Congressional Budget Office

As described in both the report and slides, CBO anticipates that, under the assumption that current laws governing federal taxes and spending generally remain in place, the economy...

August 27, 2014

The Real Unemployment Rate - Alan Krueger et al., Princeton University

This paper documents that rotation group bias — the tendency for labor force statistics to vary systematically by month in sample in labor force surveys — in the Current Popula...

August 26, 2014

Can't Find a Job? Blame Obamacare - John C. Goodman, Forbes

Why can’t people find a job? One big reason is Obamacare. Three Federal Reserve Banks – in Philadelphia, New York and Atlanta – have released business surveys tha...

August 25, 2014

Democratic Presidents: Economy Boosters? - Robert Samuelson, Wash Post

It's a Democratic campaign consultant's dream: a study from two respected academic economists concluding that, since the late 1940s, the economy has consistently performed better u...

August 25, 2014

Piketty and General Laws of Capitalism - Acemoglu & Robinson, MIT

Thomas Pikettyís recent book, Capital in the Twenty First Century, follows in the tradition of the great classical economists, Malthus, Ricardo and Marx, in formulating &igr...

August 25, 2014

Ban Hiring Discrimination Against the Jobless? - Jeffrey Stinson, Stateline

The day Debra Wolverton was laid off from her retail sales job in June 2013, she stopped by some businesses on her way home in Austin, Texas, to ask for work. She was told to apply...

August 23, 2014

The 2014 Jackson Hole Economic Policy Symposium - FRBKC

The Federal Reserve Bank of Kansas City hosts dozens of central bankers, policymakers, academics and economists from around the world at its annual economic policy symposium, Aug. ...

August 22, 2014

What It Takes to Be Considered 'Rich' - Dylan Matthews, Vox

Rich people love few things like they love making up reasons for why they are not in fact rich. Personal Capital, a web-based money management application similar to Mint...

August 22, 2014

Women-Owned Businesses Stay Small - Sophie Quinton, National Journal

When Arabel Alva Rosales started her own technology consulting company, she had many advantages: a law degree from Chicago's DePaul University, experience working in state governme...

August 22, 2014

'Helicopter Money' Works. Always. - Willem H. Buiter, Economics

The author provides a rigorous analysis of Milton Friedman’s parable of the ‘helicopter’ drop of money – a permanent/irreversible increase in the nominal stock of fiat base...

August 20, 2014

What Good Are Jobless Benefits? - Andrew Quinn, Pursuit of Happiness

Last spring, Washington was locked in partisan combat over unemployment insurance. You may remember this showdown as that time when Congress came to a screeching halt over intracta...

August 19, 2014

The Decline of Labor Force Participation - Steven Braun et al., VoxEU

The labour force participation rate in the US has fallen dramatically since 2007. This column traces this decline to three main factors: the ageing of the population, cyclical effe...