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Economy

July 15, 2014

Habits of Effective Workforce Programs - Mazzara & Horwitz, Third Way

In his State of the Union address, President Barack Obama tapped Vice President Joe Biden to “lead an across-the-board reform of America’s training programs to make sur...

July 14, 2014

Policy Responses to the Global Economic Crisis - Richard Wood, VoxEU

The Global Crisis triggered a series of medium-term policy changes. This column reviews the effectiveness of some of these monetary, fiscal policies, and internal devaluation polic...

July 12, 2014

A Recovery Without the Middle Class? - Joel Kotkin, Forbes

What if they gave a recovery, and the middle class were never invited? Well, that’s an experiment we are running now, and, even with the recent strengthening of the jobs mark...

July 3, 2014

Policies That Stunt Job Growth - Peter Morici, Breitbart

July 2, 2014

The Great Recession's Long-Term Effects - Laurence Ball, VoxEU

According to macroeconomics textbooks, a fall in aggregate demand causes a recession in which output drops below potential output – the normal level of production given the econo...

June 27, 2014

Black Unemployment and Education - Young Invincibles

While the Great Recession continues to have ripple effects on our entire generation, young African Americans face unemployment rates that are twice that of their white peers. ...

Most Recent Articles

June 27, 2014

A Path to Economic Security - Sen. Marco Rubio, National Review Online

Both of my parents were born into difficult circumstances. My father lost his mother as a young boy and had to quit school so he could go to work. My mother was raised by a disable...

June 26, 2014

How Obamacare Helped Crash the Economy - Daniel Gross, Daily Beast

Obamacare did help crash the economy. Only not in the way its critics thought it would....

June 26, 2014

Should We Tax Companies for Paying Their CEOs Well? - Korok Ray, e21

Next session the California state legislature plans to raise corporate taxes on companies with high CEO pay. A similar bill passed a California Senate committee on May 23, but died...

June 25, 2014

A Conservative Case for a Just Wage - Amber & David Lapp, Family Studies

In a previous post, “Marriage is a Community Affair,” David suggested that we must “think about the force field that helps to hold together or tear apart a m...

June 25, 2014

Our Economic Prospects - Lawrence H. Summers, NABE

In his February 24, 2014  remarks to the National Association of Business Economics, Summers said, “I want to take up these issues -secular stagnation, the idea tha...

June 24, 2014

A Weak Attack on Wealth Taxes - Jared Bernstein, On the Economy

While he acknowledges its diminishingly small probability of occurring, Thomas Piketty’s idea for a global wealth tax falls neatly out of his model wherein wealth accumulatio...

June 23, 2014

Lower Birth Rate, Slower Economy? - Jonathan Clements, MarketWatch

Over the past six decades, the U.S. has enjoyed real (after inflation) economic growth of 3% a year. But that 3% could soon become 1%, argues Robert Arnott, chairman of Research Af...

June 16, 2014

Our Continuing Economic Catastrophe - Ryan Avent, The Economist

IN JANUARY of 2008 there were 138,365,000 people employed in the American economy. In May of this year, according to the most recent figures from the Bureau of Labour Sta...

June 16, 2014

Why the Economy Is (Still) an Enigma - Robert Samuelson, Washington Post

Something interesting, unpredicted and possibly worrisome is occurring on financial markets. Stocks and bonds are sending mixed -- and conceivably contradictory -- signals on the e...

June 13, 2014

Workweeks Haven't Recovered for the Poor - Jolevski & Sherk, Heritage

During the Great Recession of 2008 and 2009, employers cut many of their employees’ work hours. For most, the average workweek eventually returned to pre-recession levels, bu...

June 13, 2014

Overwork and the Pay Gap - Cha & Weeden, American Sociological Review

Despite rapid changes in women’s educational attainment and continuous labor force experience, convergence in the gender gap in wages slowed in the 1990s and stalled in the 2...

June 11, 2014

The Rise of the Servant Economy - Danielle Kurtzleben, Vox

If you hate doing your housework, you're not alone, but as it turns out, you have a lot of options for how to get your unwanted tasks off your plate....

June 11, 2014

Economic Policy Lessons From 'Mario Kart' - John Aziz, The Week

The release of Mario Kart 8 for the Wii U last month was evidence that this hallowed videogame franchise, which began in 1992 with the release of Super Mario Kart, i...

June 10, 2014

Where Is the Worry About Job Losses From Trade? - Dean Baker, Truthout

When President Obama announced plans to curtail the use of coal over the next fifteen years major news outlets like National Public Radio and The New York Timesrushe...

June 9, 2014

What the Recovery Actually Looks Like - Philip N. Cohen, Family Inequality

If you don’t account for population growth, I don’t get what you’re saying with these employment numbers. I’ll show a simple example, but fir...

June 9, 2014

The Enron-Style Accounting That Gives Us 'GDP' - John Tamny, Forbes

It’s not a widely known, but in gross domestic product (GDP) terms, President Jimmy Carter presided over one of the longest and most expansive periods of economic growth in p...

June 7, 2014

The Jobs Report's Missing Workers - Economic Policy Institute

In today’s labor market, the unemployment rate drastically understates the weakness of job opportunities. This is due to the existence of a large pool of “missing ...

June 6, 2014

How the Recession Reshaped the Economy - Ashkenas & Parlapiano, NYT

Five years since the end of the Great Recession, the private sector has finally regained the nine million jobs it lost. But not all industries recovered equally....

June 6, 2014

Solutions for the Older Unemployed - Aparna Mathur & Peter Hansen, AEI

The Great Recession has been particularly hard on older workers, who have had difficulty finding new jobs after being unemployed for long spells. This is especially troubling for t...

June 2, 2014

Capital Eats the World - Suresh Naidu, Jacobin

In their essay last fall on the state of economics, Seth Ackerman and Mike Beggs charged that today’s mainstream is irredeemably captured by conservative ideology. ...

May 30, 2014

A Response to the Financial Times - Thomas Piketty, Huffington Post

This is a response to the criticisms -- which I interpret as requests for additional information -- that were published in the Financial Times (FT) on May 23, 2014 (see FT articl...

May 29, 2014

Will Machines Replace Lawyers? - John O. McGinnis, City Journal

Law schools are in crisis, facing their most substantial decline in enrollment in decades, if not in the history of legal education. Applications have fallen over 40 percent since ...

May 27, 2014

What Kinds of Jobs Did the Recovery Create? - Abel & Deitz, FRBNY

At today’s regional economic press briefing, we provided an update on economic conditions in New York, northern New Jersey, and Puerto Rico, with a special focus on the ...

May 27, 2014

Understanding 'Spreadsheet Errors' - Austin Frakt, Incidental Economist

Like Carmen Reinhart and Kenneth Rogoff before him, Thomas Piketty has had questions raised about his analysis; in his case, his work on wealth inequality. Thou...

May 24, 2014

Unemployment Expiring Didn't Push People to Work - Ben Casselman, 538

Helene Laurusevage still gets up at 6 a.m. every day and packs lunch for her husband. She still sits down at her computer every morning to hunt for a job, and still updates the met...

May 23, 2014

Why Hasn't Growth Made Us Less Busy? - Elizabeth Kolbert, New Yorker

In the winter of 1928, John Maynard Keynes composed a short essay that took the long view. It was titled “Economic Possibilities for Our Grandchildren,” and in it Keyne...

May 22, 2014

The Growth of STEM Wages - Alex Nowrasteh, Cato Institute

The Center for Immigration Studies (CIS) released a new report claiming that there is no STEM worker “shortage”* after looking at the small wage gains in STEM...

May 22, 2014

When Will We Start Seeing Trillionaires? - Rich Tucker, RealClearPolicy

Imagine you picked up a popular book in the hot, eventful summer of 1968. You might have grabbed The Population Bomb, which begins with a bang. "The battle to feed all of huma...

May 21, 2014

Why Middle Class Incomes Are 'Stagnant' - Scott Winship, Forbes

The latest National Review features my full critique of current It-Book Capital in the Twenty-First Century, by Celebrity Economist Thomas Piketty. The review c...

May 19, 2014

Timothy Geithner's Story - Michael Lewis, New York Times

He’s written a really good book — we might as well get that out of the way, as so much else about Timothy F. Geithner remains unsettled. Geithner served as president of...

May 14, 2014

Student Loan Debt Hurts the Housing Market - Brown et al., FRBNY

Last year, our blog presented results from the FRBNY Consumer Credit Panel (CCP) indicating that, at a time of unprecedented growth in student debt, student borrowers wer...

May 14, 2014

Where the Middle Class Can Still Buy a House - Jed Kolko, Atlantic Cities

Where can the middle class afford to buy a home today? Affordability has worsened in the past year, as home prices have climbed faster than incomes and mortgage rates have risen. B...

May 13, 2014

Inequality and the Fate of Capitalism - Scott Winship, National Review

Thomas Piketty topped the Amazon.com charts in America just shy of 150 years from the publication of volume 1 of Das Kapital....

May 12, 2014

Inflation Targeting vs. Price Level Targeting - Hatcher & Minford, VoxEU

Inflation targeting and price-level targeting have excited economists for decades. This column reviews a survey on the merits of price-level targeting. The latter could potentially...

May 12, 2014

Global Lessons for Inclusive Growth - Jason Furman, White House

Five years ago, economic policymakers in the United States and many other countries around the world were faced with one of the most tumultuous and trying periods since the 1930s. ...

May 12, 2014

Piketty's Wealth Tax Is No Joke - Clive Crook, Bloomberg View

I've complained about Thomas Piketty's "Capital in the 21st Century" and I still think it's been vastly overpraised, but I don't go along with every criticism others...

May 10, 2014

Understanding Spending Multipliers - Daniel Carroll, Cleveland Fed

Public debate about the effects of government spending heated up after record-large stimulus packages were enacted to address the fallout of the financial crisis. Almost as noticea...

May 8, 2014

Imposing Market Discipline on Government - Rich Tucker, RealClearPolicy

Capitalism is prolific, and it generates both good and bad products. But there's a reason almost nobodydrives an Edsel, listens to a Zune, or sips New Coke today: Ca...

May 6, 2014

There's Been No Recovery in Wages - Mark Gongloff, Huffington Post

Stock prices and corporate profits are setting records, jobs are growing, and yet most Americans think the recession never ended. How can this be? Because in the one place it ...

May 5, 2014

Why Labor Force Participation Is Down - Evan Soltas, Economics & Thought

There have been many attempts to answer this question: Is the decline in the U.S. labor force participation rate structural or cyclical? Or, more precisely, to what extent is it ei...

May 3, 2014

The Jobs Report's Inconsistent Numbers - David Leonhardt, New York Times

A brief piece of advice for fellow journalists: Don’t try to pretend that the headline numbers from the two surveys that the Labor Department releasedthis morning can te...

May 3, 2014

Getting Seasonal Adjustments Right - Jonathan Wright, Brookings

There are massive seasonal patterns in employment data. For example, in July, it is typical for the U.S. economy to lose over a million jobs. Adjusting for this normal seasonal var...

May 2, 2014

The Economy Increasingly Idles Young Workers - Shierholz et al., EPI

The Great Recession officially ended in June 2009, nearly five years ago. However, the labor market has made agonizingly slow progress toward a full recovery, and the slack that re...