Things to Read on the Morning of November 27, 2014

Must- and Shall-Reads: Chuck Marr and Robert Greenstein: Tax Extenders Package Is Fundamentally Flawed 2014 PKConference *   Mark Thoma: Some good job news for a hard-hit group : "The 'hollowing out' of America's middle-class jobs in recent years is a trend that started before the Great Recession.... But where do those who have lost their jobs go?.... Many people believe most of those who lose middle-class jobs end up worse off than before, but recent research by economic policy analyst Ellie Terry and economist... More >

Morning Must-Read: Mark Thoma: Good News for the Unemployed

Mark Thoma: Some good job news for a hard-hit group : "The 'hollowing out' of America's middle-class jobs... ...in recent years is a trend that started before the Great Recession.... But where do those who have lost their jobs go?.... Many people believe most of those who lose middle-class jobs end up worse off than before, but recent research by economic policy analyst Ellie Terry and economist John Robertson of the Federal Reserve Bank of Atlanta finds... 'of those in middle-skill occupations who remain in... More >

Afternoon Must-Read: Martin Wolf: Radical Cures for Unusual Economic Ills

Martin Wolf: Radical cures for unusual economic ills: "Crises are cardiac arrests of the financial system... ...The time to worry about a patient’s lifestyle is not during a heart attack. The need is to keep them alive.... In my book, The Shifts and the Shocks, I suggest that a number of shifts in the world economy created chronically weak demand in the absence of credit booms... excess savings in emerging economies... shifts in income distribution, ageing and a secular decline in the propensity to invest... More >

Afternoon Must-Read: Paul Krugman: Keynes Is Slowly Winning

Paul Krugman: Keynes Is Slowly Winning: "Back in 2010... I read the OECD Economic Outlook... ...which called not just for fiscal austerity but for interest rate hikes--350 basis points on the Fed funds rate by the end of 2011!--because, well, because. Now the OECD is calling for fiscal and monetary stimulus.... It’s not the same people.... A new chief economist, Catherine L. Mann, whose excellent research has always been pragmatic.... But by selecting Ms. Mann the OECD was making a statement, and my sense is... More >

Afternoon Must-Read: Anne Laurie: Monday While-We’re-Waiting

Anne Laurie: Monday While-We’re-Waiting: "Matt Yglesias... ...[on] the new Wingnut Wurlitzer meme: Conservative pundits who didn’t like the bipartisan comprehensive immigration reform bill that passed the US Senate in 2013 also didn’t like Obama’s deportation relief through executive action. They object to both the content... and to the process... as roughly akin to overthrowing the democratic constitutional order through military force in order to establish a brutal Latin American dictator.... There are many things one could say about this comparison, starting with the fact that... More >

Things to Read on the Evening of November 25, 2014

Must- and Shall-Reads: Lars Svensson: Monetary policy tradeoffs in CESEE Grégory Claeys et al.: Measuring Europe’s investment problem Izabella Kaminska: Lies, damned lies, and liquidity expectations Simon Wren-Lewis: Left, Right and Macroeconomic Competence   Nicholas Bagley: Three Words and the Future of the Affordable Care Act: "To help people like my kids’ piano teacher, the ACA extends tax credits to anyone earning between one and four times the poverty level who buys a qualified health plan so long as the individual is ineligible for Medicaid... More >

Evening Must-Read: Nicholas Bagley: Three Words and the Future of the Affordable Care Act

Nicholas Bagley: Three Words and the Future of the Affordable Care Act: "To help people like my kids’ piano teacher, the ACA extends tax credits to anyone earning between one and four times the poverty level who buys a qualified health plan so long as the individual is ineligible for Medicaid and doesn’t have access to employer-sponsored coverage.... As Michael Cannon and Jonathan Adler read the ACA, however, my kids’ piano teacher can’t get tax credits at all. Nor should roughly 9.5 million other people...... More >

Afternoon Must-Read: Jonathan Cohn: Obama’s Immigration Order: A Vote for American Exceptionalism

Jonathan Cohn: Obama's Immigration Order: A Vote for American Exceptionalism: "American exceptionalism, you’ll remember... is something Obama’s critics claim he doesn’t believe in. ‘Our president doesn’t have the same feelings about American exceptionalism that we do,’ Mitt Romney said during the 2012 presidential campaign. In a 2010 cover story in National Review, Rich Lowry and Ramesh Ponnuru declared, ‘At the heart of the debate over Obama’s program is the survival of American exceptionalism.’... One consistent feature of exceptionalist discourse has been the idea that America... More >

Afternoon Must-Read: Lars E. O. Svensson: Monetary Policy and Financial Stability

Monetary policy tradeoffs in CESEE### Lars E.O. Svensson http://larseosvensson.se Department of Economics, Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden, www.sse.edu Conference on European Economic Integration (CEEI) 2014 Vienna, November 24, 2014 Monetary policy's best contribution to financial stability? * Inflation on target and resource utilization at long-run sustainable rate * Suppose 2% inflation and 3% real growth, nominal growth 5% of asset prices and disposable income, doubling every 14 years * For any given nominal debt, LTV and DTI ratios halved... More >

Over at Project Syndicate: Economic Growth and the Information Age: Daily Focus

Over at Project Syndicate: Last month in this space we reviewed the pulling-apart of America as it has become a vastly more unequal place since 1979: top 1% incomes grew at 3.6%/year, rest of the top fifth grew at 1.6%/year, middle three-fifths grew at 0.9%/year, bottom fifth at 0.5%/year-—with the proviso that improved access to medical care was worth a good deal more than its market cost. But the past generation has seen a third industrial revolution, a worthy information-age successor to the first of... More >