Must- and Should-Reads: April 30, 2017

• Adam Tooze: Reviewing ‘How Will Capitalism End?’ by Wolfgang Streeck: “Streeck draws urgent practical conclusions… https://www.lrb.co.uk/v39/n01/adam-tooze/a-general-logic-of-crisis
• Heather Boushey, Brad DeLong and Marshall Steinbaum: Equitable Growth in Conversation: Marshall Steinbaum: “I think the key question… in Piketty terms [is]… https://equitablegrowth.org/research-analysis/equitable-growth-in-conversation-brad-delong-and-marshall-steinbaum/
• Arindrajit Dube: Minimum wages and the distribution of family incomes in the United States: “I find robust evidence that higher minimum wages lead to increases… https://equitablegrowth.org/research-analysis/minimum-wages-and-the-distribution-of-family-incomes-in-the-us/
• Greg Leiserson: A premature promise on tax rates could threaten tax reform https://equitablegrowth.org/research-analysis/a-premature-promise-on-tax-rates-could-threaten-tax-reform/: “Mulvaney’s suggestion that the announcement may include an indication of the administration’s proposed rates and little else…
• Kavya Vaghul: How gig economy companies fit (or don’t fit) into the tax systemEquitable Growth https://equitablegrowth.org/equitablog/value-added/how-gig-economy-companies-fit-or-dont-fit-into-the-tax-system/: “These companies and the people they hire via individual contracts may not yet be…
• Gauti Eggertsson, Neil Mehrotra, and Jacob A. Robbins: To accommodate or not: The Federal Reserve’s new normal http://voxeu.org/article/accommodate-or-not-federal-reserve-s-new-normal: “Current [monetary] policy may be at or close to the natural rate…
• George Callas: Donald Trump’s corporate tax cuts can’t pass Congress: “Here is a data point for folks… http://www.slate.com/blogs/moneybox/2017/04/25/donald_trump_s_corporate_tax_cuts_can_t_pass_congress.html
• Kavya Vaghul: The student loan crisis is fueled by a weak labor market: “Holger M. Mueller and Constantine Yannelis… investigate how massive declines in home prices during the Great Recession… https://equitablegrowth.org/equitablog/value-added/the-student-loan-crisis-is-fueled-by-a-weak-labor-market/
• Sarah Kliff: Republicans exempt their own insurance from their latest health care proposal: “The new Republican amendment… would allow states to waive out of Obamacare’s ban on pre-existing conditions… https://www.vox.com/2017/4/25/15429982/gop-exemption-ahca-amendment

Interesting Reads:

• Noah Smith: The siren song of homogeneity http://noahpinionblog.blogspot.com/2017/04/the-siren-song-of-homogeneity.html
• Olivier Blanchard: “The current core… RBC… wit… nominal rigidities, seems too much at odds with reality…. The Euler equation for consumers and the pricing equation for price-setters seem to imply… much too forward lookingness…. The core model must have nominal rigidities, bounded rationality and limited horizons, incomplete markets and the role of debt…”
  • On the Need for (At Least) Five Classes of Macro Models https://piie.com/blogs/realtime-economic-issues-watch/need-least-five-classes-macro-models
  • The Need for Different Classes of Macroeconomic Models https://piie.com/blogs/realtime-economic-issues-watch/need-different-classes-macroeconomic-models
  • Further Thoughts on DSGE Models https://piie.com/blogs/realtime-economic-issues-watch/further-thoughts-dsge-models
  • Do DSGE Models Have a Future? https://piie.com/system/files/documents/pb16-11.pdf
• Markus Brunnermeier et al.: A safe asset for Europe https://ftalphaville.ft.com/2017/04/28/2188024/guest-post-a-safe-asset-for-europe/
• Ulrike Malmendier: Publicani https://eml.berkeley.edu/~ulrike/Papers/Publicani_Article_v5.pdf
• Ulrike Malmendier: Law and Finance “at the Origin” https://eml.berkeley.edu/~ulrike/Papers/JELDraft73_withabstract_andTable.pdf
• Graduate Center CUNY Presents: The First 100 Days http://www.gc.cuny.edu/All-GC-Events/GC-Presents/The-First-100-Days
• Joe Gagnon: We Know What Causes Trade Deficits: “A country can have a trade deficit only if it is borrowing…. Trade barriers have only minor effects on borrowing and lending decisions… cause the exchange rate to appreciate to bring about offsetting changes in other imports and exports…” https://piie.com/blogs/trade-investment-policy-watch/we-know-what-causes-trade-deficits
• Richard Bushman et al.: Mormon History Shows the Dangers of Targeting Muslims http://mormonscholarsbrief.blogspot.com/2017/04/testing-testing.html
• Paul Murphy: It seems Google and Facebook really are taking ALL the growth in ad revenue | FT Alphaville https://ftalphaville.ft.com/2017/04/26/2187891/it-seems-google-and-facebook-really-are-taking-all-the-growth-in-ad-revenue/
• Risk Parity http://www.investopedia.com/terms/r/risk-parity.asp
• Ernesto Dal Bó, Frederico Finan, Olle Folke, Torsten Persson, and Johanna Rickne: Democracy and meritocracy: “Swedish population data on cognitive and leadership ability… argue that[s] democracy in Sweden has created… inclusive meritocracy… avoid[ing] the tension between representation and competence…” http://voxeu.org/article/democracy-and-meritocracy
• Lorenzo Caliendo, Robert Feenstra, John Romalis, and Alan Taylor: Theory and evidence for the last two decades of tariff reductions: “Standard trade models have missed an important source of gains from trade by neglecting… production linkages and multiple sectors. Under monopolistic competition, the effects of firm entry may be so powerful that optimal tariffs are not positive but negative. Even the removal of small positive tariffs could thus produce significant welfare gains…” http://voxeu.org/article/theory-and-evidence-last-two-decades-tariff-reductions
• Loren Adler and Paul B. Ginsburg: Obamacare Premiums Are Lower Than You Think: “Average premiums in the individual market actually dropped significantly upon implementation of the ACA… people are getting more for less under the ACA…” http://healthaffairs.org/blog/2016/07/21/obamacare-premiums-are-lower-than-you-think/
• Diane Coyle: Contradictions of Capital http://www.chronicle.com/article/Contradictions-of-Capital/239829
• Patee House Museum http://ponyexpressjessejames.com/patee/index.php
• Colossal (2017) https://www.rottentomatoes.com/m/colossal/
• What Reason Is There to Be Pessimistic About the United States?: DeLong FAQ http://www.bradford-delong.com/2017/04/what-reason-is-there-to-be-pessimistic-about-the-united-states-delong-faq.html
• What Reason Is There to Be Optimistic About the World?: DeLong FAQ http://www.bradford-delong.com/2017/04/global-optimism-q-what-is-the-single-most-important-thing-that-makes-you-optimistic-for-the-world-a-our-enormous-tec.html
• For the Weekend… http://www.bradford-delong.com/2017/04/for-the-weekend-1.html: “Folk Alley Sessions: Anaïs Mitchell & Jefferson Hamer: Tam Lin:…”
• Weekend Reading: Daniel Davies: Why a Speech from Barack Obama is Worth $400,000 http://www.bradford-delong.com/2017/04/weekend-reading-daniel-davies-why-a-speech-from-barack-obama-is-worth-400000.html
• Live from Merrie Olde England: Paul Bronks: @virtuallydead: https://twitter.com/virtuallydead/status/857834735170723840…” http://www.bradford-delong.com/2017/04/live-from-merrie-olde-england-paul-bronks-virtuallydead.html