Must- and Should-Reads: July 9, 2017
- Cardiff Garcia: Slower US inflation isn’t just the result of “transitory” factors: “Despite cautionary remarks from a few of its dovish members, the Federal Reserve seems determined to continue uninterrupted down its course of gradual policy tightening… https://ftalphaville.ft.com/2017/07/07/2191021/slower-us-inflation-isnt-just-the-result-of-transitory-factors/
- Pedro Nicolaci da Costa: Income gap between upper-middle class and very rich: “Destabilizing levels of income inequality, once a problem reserved for developing nations, is now a defining social and political issue in the United States… http://www.businessinsider.com/income-gap-between-upper-middle-class-and-very-rich-2017-7
- Laurent Bach, Laurent Calvet, and Paolo Sodini: Risk, return, and skill in the portfolios of the [Swedish] wealthy: “Administrative data… the wealthy indeed earn higher returns on their asset portfolios… http://voxeu.org/article/risk-return-and-skill-portfolios-wealthy
- Nick Bunker: On Twitter: “Prime-age (25-54) EPOP up to 78.5%, Prime-age LFPR up as well to 81.6%…” https://twitter.com/nick_bunker/status/883302743401799680
- Brian Dow and Dean Baker: Obamacare: Big Problem in Republican States: “The lack of competition in the exchanges is a serious problem… http://cepr.net/blogs/cepr-blog/the-collapse-of-obamacare-big-problem-in-republican-states
- Roy Elis, Stephen Haber, and Jordan Horrillo: Climate, Geography, and the Evolution of Economic and Political Systems https://economics.barnard.edu/sites/default/files/elis_haber_and_horrillo_march_25_2017.pdf: “The agricultural economies of the hinterlands of the largest city in every country or proto-country circa 1750 predict roughly half of the variance in countries’ per capita GDP today and one-fifth of the variance in countries’ levels of democracy today…
- Diane Coyle: Economics in Transition: Adaptive Markets: “Adaptive Markets, by MIT’s Andrew Lo, gives a superb and fascinating account of thinking on the frontier… https://www.project-syndicate.org/onpoint/economics-in-transition-by-diane-coyle-2017-06
- Martin Sandbu: Central bank rush to ‘normalise’ monetary policy is ill-advised: “An understanding to “normalise” together, if one exists, would not be a suicide pact… https://www.ft.com/content/3ad81df6-6161-11e7-8814-0ac7eb84e5f1
- David Cashin, Jamie Lenney, Byron Lutz, and William Peterman: Fiscal Policy and Aggregate Demand in the U.S. Before, During and Following the Great Recession: “We examine the effect of federal and subnational fiscal policy on aggregate demand in the U.S. by introducing the fiscal effect (FE) measure… https://www.federalreserve.gov/econres/feds/files/2017061pap.pdf
Interesting Reads:
- Bill Gardner: Medicaid is good for children and makes them better adults http://theincidentaleconomist.com/wordpress/medicaid-is-good-for-children-and-makes-them-better-adults/
- Austin Frakt: Where are the Democrats’ ACA fixes?: “Many hearing the question… will just assume there are no Democratic or progressive ideas to fix the ACA. But there are. I asked for them on Twitter this morning and here’s a taste of what I got, just as of noon today…” http://theincidentaleconomist.com/wordpress/where-are-the-democrats-aca-fixes/
- Jim Brunsden and Valentina Romei: Why the EU’s agreement with Japan is a big deal: “Between them they account for… 38 per cent of goods exports… big tariff cuts, co-operation on standards and regulations and the opening up of public procurement markets. The EU estimates the accord will save it €1bn in customs duties per year and boost exports to Japan from more than €80bn to more than €100bn a year…” https://www.ft.com/content/572fef42-6260-11e7-91a7-502f7ee26895
- Note to Self: Characteristics of Stock and Bond Returns since 1870 http://www.bradford-delong.com/2017/07/note-to-self-characteristics-of-stock-and-bond-returns-since-1870.html
- The Labor Market for Prime-Age Males Is No Longer Worse than at Any Other Time since the Great Depression! http://www.bradford-delong.com/2017/07/the-labor-market-for-prime-age-males-is-no-longer-worse-than-at-any-other-time-since-the-great-depression.html