Tag: roundup

• John Maynard Keynes (1936): The General Theory of Employment, Interest and Money, Chapter 13: The three divisions of liquidity-preference….
• David Glasner: Price Stickiness a Symptom Not a Cause: Nick [Rowe], following a broad consensus among economists, identifies price stickiness as a critical cause of fluctuations in employment and income….
• John Maynard Keynes (1937): The General Theory of Employment: Now a practical theory of the future based on these three principles has certain marked characteristics…
• John Maynard Keynes (1936): The General Theory of Employment, Interest and Money, Chapter 12: So far we have had chiefly in mind the state of confidence of the speculator or speculative investor himself…
• Simon Wren-Lewis: A General Theory of Austerity, Cynicism and Opportunism: Was austerity an unfortunate accident?…
• Dan Davies: On Deutsche Bank

Should Reads:

• Dan Davies: The really interesting question is: “how much damage is going to be done by DBK limping along as an undercapitalised hulk?”
• Ulrike Malmendier: Review of Peter Bang: “The Roman bazaar: A comparative study of trade and markets in a tributary empire”.
• Duncan Weldon: Negative yields, the euthanasia of the rentier & political economy
• Duncan Weldon: Whatever happened to deficit bias?
• Maria Popova: Don’t Heed the Haters: Albert Einstein’s Wonderful Letter of Support to Marie Curie in the Midst of Scandal: “If the rabble continues to occupy itself with you, then simply don’t read that hogwash, but rather leave it to the reptile for whom it has been fabricated…”

[14,000-year-old campsite in Argentina adds to an archaeological mystery: http://arstechnica.com/science/2016/09/14000-year-old-campsite-in-argentina-adds-to-an-archaeological-mystery/

• Blum Center: The Science of Scaling: Building Evidence to Advance Anti-Poverty Innovations: September 26 @ 8:00 am – 5:00 pm, 100 Blum Hall, Haviland Road, U.C. Berkeley, Berkeley, CA 94720 United States The Development Impact Lab (DIL), headquartered at UC Berkeley and funded by USAID…
• Thomas Baekdal: What Killed The Newspapers? Google Or Facebook? Or…?: Google didn’t actually kill the newspaper advertising market…
• Noah Smith: Economics Has a Major Blind Spot: Economists often don’t take politics into account. As a result, econ models leave out important pieces, and the advice of economists often falls on deaf ears or is seen as impractical…
• Dani Rodrik: Put Globalization to Work for Democracies: Look closely at the economies that converged with richer counterparts — Japan, South Korea, China — and you see that each engaged globally in a selective, strategic manner…
• Hans-Werner Sinn: Secular Stagnation or Self-Inflicted Malaise?: Some economists believe that this is evidence of “secular stagnation”….
• Emmanuel Saez and Stefanie Stantcheva: A Simpler Theory of Optimal Capital Taxation: We derive formulas for optimal linear and nonlinear capital income taxation…

Should Reads:

• Aaron Carroll: It’s Easy for Obamacare Critics to Overlook the Merits of Medicaid Expansion
• Valentina Palladino: Amazon looking to abandon UPS, FedEx in favor of its own delivery service

• William Spriggs: Trying to Teach Old Dogs New Tricks: Last December, after a long period of keeping the Fed funds rate near zero, the FOMC voted unanimously to raise the Fed funds rate by one-quarter to one-half points….
• Mark Pesce: Zombie Moore’s Law: Hardware Eats Software: Intel announce some next-generation CPUs that aren’t very much faster… delays… some of its 10nm process CPUs; and Apple’s new A10 chip, powering iPhone 7, is as one of the fastest CPUs ever.
• Nick Rowe: Cheshire Cats and New Keynesian Central Banks: How can money disappear from a New Keynesian model, but the Central Bank still set a nominal rate of interest and create a recession by setting it too high?…
• Barry Eichengreen: Closing Remarks to Policy Challenges in a Diverging Global Economy: It is one of the great pleasures of my association with the Federal Reserve Bank of San Francisco to give these closing remarks…

Should Reads:

• Andrew Gellman: What has happened down here is the winds have changed
• The AI Now Report: The Social and Economic Implications of Artificial Intelligence Technologies in the Near-Term
• Brad W. Setser
• Miles Kimball: Sticky Prices, Sticky Inflation and the Cost of Inflation as Reflections of Cognitive Costs
• Pedro da Costa: Fiscal policy suddenly all the rage among policymakers who should have thought of it sooner
• Brookings Productivity Puzzle Panel: VIdeo
• (Early) Monday Smackdown: David Glasner on the Ignorance of Macroeconomists Who Say “All Models Are False” in Self-Justification

• Marc Dordal i Carreras, Olivier Coibion, Yuriy Gorodnichenko, and Johannes Wieland: Rethinking Inflation Targets for Long ZLB Episodes: The estimated frequencies and durations are quite sensitive to individual country experiences…
• Robert Novy-Marx: Is Momentum Really Momentum?: Momentum is primarily driven by firms’ performance 12 to seven months prior to portfolio formation…
• Storify: DSGE as a Degenerating Research Program in Lakatosian Terms: Brad DeLong and Friends…
• Paul De Grauwe and Yuemei Ji: Animal spirits and the optimal level of the inflation target: Low inflation targets can cause economies to hit the zero lower bound during deflationary periods caused by even mild shocks…
• Duncan Black: The Ad Cycle: I thought it would’ve reset by now, but the internet just keeps getting worse and worse…
• Anna Valero and John van Reenen: The Economic Impact of Universities: Evidence from Across the Globe: 15,000 universities in about 1,500 regions across 78 countries, some dating back to the 11th Century….
• Ernesto Dal Bo, Pablo Hernandez, and Sebastian Mazzuca: The Paradox of Civilization: Pre-Institutional Sources of Security and Prosperity: The rise of civilizations involved the dual emergence of economies that could produce surplus (“prosperity”) and states that could protect surplus (“security”)…
• Cyrus Farivar: As Kuwait imposes world’s first DNA collection law, attorney tries to fight it
• John Timmer: Humanity left Africa in one big surge

Should Reads:

• Jim O’Neill and Eric Goosby: On Antimicrobial Resistance, It’s Now or Never
• Simon Wren-Lewis: Paul Romer on Macroeconomics: “The microfoundations project, which was meant to make macro just another application of microeconomics, has left macroeconomics with very few friends among other economists. The latest broadside comes from Paul Romer.
• John Follain: Austerity Only Benefits Germany and Destroys Europe, Renzi Says
• Ben Bernanke: Should the Fed keep its balance sheet large?
• Rob Stavins: A Key Moment for California Climate Policy
• Narayana Kocherlakota (2009): Modern Macroeconomic Models as Tools for Economic Policy
• Arvind Subramanian: Guarded optimism beats gloom for emerging economies: For the longue durée, promise still beckons for the developing world…
• Willem Buiter (2009): The Unfortunate Uselessness of Most ‘State of the Art’ Academic Monetary Economics: If one were to hold one’s nose and agree to play with the New Classical or New Keynesian complete markets toolkit, it would soon become clear that any potentially policy-relevant model would be highly non-linear….
• Comment of the Day: Kaleberg: AI
• Comment of the Day: Invhand: Musings on “Just Deserts” and the Opening of Plato’s Republic
• The Long-Run Economic Trend Is Our Friend: No Longer so Fresh at Project Syndicate

• Laura Tyson and Anu Madgavkar: The Great Income Stagnation: MGI surveys in France, the United Kingdom, and the US have found…
• Project Syndicate: Untruth and Consequences:
• Simon Wren-Lewis: Economics, DSGE and Reality: Just before 1990… with colleagues I showed that entering the ERM at an overvalued exchange rate would lead to a UK recession…
• Ben Thompson: What the Media Misses About Facebook, Facebook’s Missing Humans, Will the iPhone 7 Be a Hit?: Media executives need to take a very hard look at their businesses and decide where they can survive…
• Harry Brighouse: Why Have Classroom Discussions Anyway?: I didn’t give any reasons why students actually should discuss….
• Narayana Kocherlakota: The Fed Is About to Make a Mistake: More than seven years after the recovery began in mid-2009, inflation remains below the central bank’s 2-percent target…
• Bill White: Ultra-Easy Money: Digging the Hole Deeper?: Ultra Easy Monetary Policy: Why it Hasn’t Worked as Intended**
• Paul Krugman: What Have We Learned From The Crisis?: We’re talking about an… episode… longer than the famous era of stagflation in the 1970s and early 1980s…
• V.V. Chari, Lawrence Christiano, and Patrick J. Kehoe (2008): Facts and Myths about the Financial Crisis of 2008: We examine three claims about the… financial crisis… and argue that all three claims are myths…

Should Reads:

• Ben Thompson: Google, Uber, and the Evolution of Transportation-as-a-Service – Stratechery by Ben Thompson
• Gavyn Davies: Will the Bank of Japan cause a global bond tantrum?
• BIS Quarterly Review, September 2016
• Richard Mayhew: Visible Subsidies and Systems of No
• Marc Andreesen (2007): The Pmarca Guide to Startups, part 4: The only thing that matters
• Ben Thompson (2014): Twitter’s Marketing Problem: The initial concept was so good, and so perfectly fit such a large market, that they never needed to go through the process of achieving product market fit…
• Kim Masters: The Netflix Backlash: Why Hollywood Fears a Content Monopoly: Some executives, producers and agents who rely on deals with the streaming giant nonetheless increasingly view Netflix as an existential threat.
• Martin Wolf: No halfway house will do: Theresa May will go for a hard Brexit: Britain will be meaner and poorer but no middle way exists between EU membership and a tough exit
• Comment of the Day: Tracy Lightcap: AI
• Night Thoughts on Dynamic Scoring: Hoisted from a Year Ago
• The Clones of Jim Tobin vs. the Gravitational Pull of Chicago: A Paul Krugman Production…
• Comment of the Day: Charles Steindel: Economics, DSGE, and Reality
• Robert J. Shiller: The Coming Anti-National Revolution
• David desJardin

• Paul Romer: The Trouble with Macroeconomics: In the last three decades, the methods and conclusions of macroeconomics have deteriorated…
• Pseudoerasmus: Ideology & Human Development: My overall point can be summarised thus….
• Noah Smith: The New Heavyweight Macro Critics: [Paul] Romer’s harshest zinger… is this:
• Fatih Guvenen et al.: The Nature of Countercyclical Income Risk: The base sample is a nationally representative panel containing 10 percent of all U.S. males from 1978 to 2010…
• Noah Smith: To tell the story…:

Should Reads:

• William K. Black (2015): New Labour’s Economic Illiteracy Exacts a Terrible Price
• Danilo Trisi: Safety Net Cut Poverty Nearly in Half Last Year
• Barry Eichengreen: Brexit and the Pound in Your Pocket
• Issi Romem: Can U.S. Cities Compensate for Curbing Sprawl by Growing Denser?
• Mike Konczal: The “new liberal economics” is the key to understanding Hillary Clinton’s policies
• Dan Gross: How to Bring Back Manufacturing Jobs: America has a long-running crisis in manufacturing employment….
• Dean Baker: Esther George and Financial Speculation
• Matthew Yglesias: 5 ways the census income report misleads us about the real state of the economy
• Pranab Bardhan: Rise Of Right-Wing Populism: A Manifesto For The Moderate Left
• Comment of the Day: Scott P.: Cuba Under the Castro Brothers
• Files Related to the Hutchins-Brookings Productivity Festival
• Very Brief Musings on Democracy
• Outline of: Joel Mokyr: A Culture of Growth: The Origins of the Modern Economy
• Must-Read: Paul Romer: The Trouble with Macroeconomics