Must- and Should-Reads: August 25, 2017

• Brad Setser: G-3 Coordination Failures of the Past Eight Years?: “I want to look back… [at the] coordination failures over the past eight years… https://www.cfr.org/blog/g-3-coordination-failures-past-eight-years-riff-coure-and-brainard
• Neil Cummins: Lifespans of the European Elite, 800–1800: 115,650 European nobles from 800 to 1800… https://www.cambridge.org/core/journals/journal-of-economic-history/article/lifespans-of-the-european-elite-8001800/BE252C4B25C4AAC29ED62D591A1675AC
• Neel Kashkari: Fed official: Businesses should raise wages before complaining of worker shortage: “Common refrain… we have jobs available, but simply can’t find qualified workers to fill them… http://www.businessinsider.com/fed-official-businesses-should-raise-wages-before-complaining-of-worker-shortage-2017-8
• Jacques Bughin and Eric Hazan: The new spring of artificial intelligence: “The Industrial Revolution was about machines enhancing human muscle power. The AI revolution is about machines enhancing human brain power… http://voxeu.org/article/new-spring-artificial-intelligence-few-early-economics
• Maurice Obstfeld, Jonathan D. Ostry, and Mahvash S. Qureshi: Trilemma redux: Evidence from emerging market economies: “The synchronous rise and fall of cross-border capital flows, domestic credit, and asset prices… http://voxeu.org/article/trilemma-redux-evidence-emerging-market-economies
• Matthew Yglesias: Steve Bannon’s “economic nationalism” is total nonsense: “‘Economic nationalism’ has grave flaws as an ideology beyond Trump’s racism, lack of policy knowledge, and personal indiscipline… https://www.vox.com/policy-and-politics/2017/8/21/16165348/steve-bannon-economic-nationalism

Interesting Reads:

• Brad Setser: Follow the Money https://www.cfr.org/blog/Setser
• Simon Wren-Lewis: mainly macro: Medicine and the microfoundations hegemony in macroeconomics https://mainlymacro.blogspot.co.uk/2017/08/medicine-and-microfoundations-hegemony.html
• Adrian Pagan (2003): Report on modelling and forecasting at the Bank of England https://web.archive.org/web/20130829001408/http://www.bankofengland.co.uk/publications/Documents/news/2003/paganreport.pdf
• Karl Smith: Fixed Costs, Markups, and Market Concentration https://niskanencenter.org/blog/fixed-costs-markups-market-concentration/
• Philippe Aghion, Antonin Bergeaud, Timo Boppart, Peter Klenow, and Huiyu Li: Missing growth: “Missing growth: How imputation and creative destruction affect TFP measurement…. The way output is measured is vital to assessing this, and quantifies the role of imputation in output measurement bias. By differentiating between truly ‘new’ and incumbent products, it finds missing growth in the US economy… [with] implications for optimal growth and inflation targeting policies…” http://voxeu.org/article/missing-growth
• Jeff Overley: Meet The ‘Horse Whisperer’ Of ACA Policy: “Timothy Jost, a mild-mannered, white-haired academic who had three decades of health law scholarship under his belt when ACA debate began in 2009…” https://www.law360.com/health/articles/955238/meet-the-horse-whisperer-of-aca-policy
• Noah Smith: 13 Ways to Strengthen America’s Economy https://www.bloomberg.com/view/articles/2017-08-17/13-ways-to-strengthen-america-s-economy
• Harold James: Interviewed by Beat Siegenthaler: “In your book The Euro and the Battle of Ideas you argue that ‘typically French’ and ‘typically German’ economic thinking are in fact not typical at all. Do national economic philosophies
  change over time?…” https://neo.ubs.com/shared/d1Wzrn6aJCyGEv/179c927c-3a9c-4568-a33c-9c2ab56991ba.pdf
• *Rachel Glennerster *: Not so small: “Work on pricing and health proves… demonstrates how impact evaluations can simultaneously answer questions of immediate practical importance for the partner in the evaluation… and help us understand underlying truths about human behavior…” http://runningres.com/blog/2016/5/27/not-so-small
• Dan Drezner: The Ideas Industry: “How Pessimists, Partisans, and Plutocrats Are Transforming the Marketplace of Ideas…” http://amzn.to/2x9anr1
• Max Roser: Our World in Data https://ourworldindata.org
• Esteban Ortiz-Ospina and Max Roser: International Trade https://ourworldindata.org/international-trade
• Richard Baldwin: The Great Convergence: Information Technology and the New Globalization http://amzn.to/2w0dlOy
• Paul Krugman: The China Shock and the Trump Shock https://krugman.blogs.nytimes.com/2016/12/25/the-china-shock-and-the-trump-shock/?_r=0
• NAFTA and other trade deals have not gutted American manufacturing https://www.vox.com/the-big-idea/2017/1/24/14363148/trade-deals-nafta-wto-china-job-loss-trump
• David H. Autor, David Dorn, and Gordon H. Hanson: The China Shock: Learning from Labor Market Adjustment to Large Changes in Trade: “Alongside the heralded consumer benefits of expanded trade are substantial adjustment costs and distributional consequences… in the local labor markets in which the industries exposed to foreign competition are concentrated. Adjustment in local labor markets is remarkably slow… at least a full decade…” http://www.nber.org/papers/w21906
• Economist: Economists argue about the impact of Chinese imports on America: “of the fall in manufacturing jobs between 1990 and 2007, one-quarter could be attributed to a surge in imports from China…” https://www.economist.com/news/finance-and-economics/21718513-china-shock-has-not-been-debunked-it-worth-understanding
• Daron Acemoglu, David Autor, David Dorn, Gordon H. Hanson, and Brendan Price: Import Competition and the Great US Employment Sag of the 2000s https://economics.mit.edu/files/9811