Tag: roundup

• Charles Evans: Lessons Learned and Challenges Ahead: “These policies… produced results. Unemployment began to fall… https://www.chicagofed.org/publications/speeches/2017/05-25-lessons-learned-and-challenges-ahead-bank-of-japan
• Samuel Osborne: Angela Merkel says Germany can no longer rely on Donald Trump’s America: “‘We Europeans must really take our destiny into our own hands’… http://www.independent.co.uk/news/world/europe/angela-merkel-donald-trump-germany-us-no-longer-rely-european-union-climate-change-g7-a7760486.html
• Gavyn Davies: The Fed’s Lowflation Dilemma: “The [last] two months together have left core CPI inflation 0.4 percentage points lower than expected… https://www.ft.com/content/b165f756-e4bf-3a70-880f-74474f6538fa
• Chad Stone: Donald Trump’s Indefensible Economic Growth Forecasts: “The 1.1 percentage point gap between the Trump annual growth forecast over the next decade and CBO’s is the largest on record and much larger than any since the Reagan-Bush era… https://www.usnews.com/opinion/economic-intelligence/articles/2017-05-26/donald-trumps-indefensible-economic-growth-forecasts

Interesting Reads:

• Douglas O. Staiger, James H. Stock, and Mark W. Watson (1997): How Precise Are Estimates of the Natural Rate of Unemployment?: “Our main finding is that the natural rate is measured quite imprecisely. For example, we find that a typical estimate of the NAIRU in 1990 is 6.2%, with a 95% confidence interval for the NAIRU in 1990 being 5.1% to 7.7% (this is the “Gaussian” confidence interval for the quarterly specification with a con- stant NAIRU, reported in section 5.2)…” http://www.nber.org/chapters/c8885.pdf
• Gavyn Davies: The Fed’s lowflation dilemma: “there is now a fly in the Fed’s ointment. The last two monthly releases for consumer price inflation have been much weaker than anyone expected…” https://www.ft.com/content/b165f756-e4bf-3a70-880f-74474f6538fa
• Abbe Gluck: How the G.O.P. Sabotaged Obamacare: “Obamacare is not ‘collapsing under its own weight’…. The Republican Party should be held accountable not only for any potential replacement of the law, but also for having tried to starve it to death… https://www.nytimes.com/2017/05/25/opinion/republicans-obamacare-aca.html
• Why Is the FOMC So Certain the U.S. Is “Essentially at Full Employment”? http://www.bradford-delong.com/2017/05/why-is-the-fomc-so-certain-the-us-is-essentially-at-full-employment.html
• DeLong: The Future of Work: Automation and Labor: Inclusive AI: Technology and Policy for a Diverse Human Future http://www.bradford-delong.com/2017/05/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future-1.html
• Where US Manufacturing Jobs Really Went: No Longer So Fresh at Project Syndicate http://www.bradford-delong.com/2017/05/where-us-manufacturing-jobs-really-went-no-longer-so-fresh-at-project-syndicate.html

• Rick Levin: Toward Sustainable Financing of Higher Education: “In the face of rising costs of attendance and an escalating burden of student debt… http://www.cshe.berkeley.edu/events/toward-sustainable-financing-higher-education-0
• Paul Krugman: Calling Literatures From The Vasty Deep: “Noah [Smith’s]… Two Paper Rule…
• Branko Milanovic: Reducing inequality by deconcentrating capital: “The capital–income ratio continues to rise… http://voxeu.org/article/reducing-inequality-deconcentrating-capital
• David Anderson: Revisiting Cassidy-Collins: “Engagement either leads to burning Senate time if there is no productive grounds for a deal… https://www.balloon-juice.com/2017/05/16/revisiting-cassidy-collins/

Interesting Reads:

• Ricardo Fernholz, Kris Mitchener, and Marc Weidenmier: The end of silver as a unit of account
• Matt O’Brien: How Japan proved printing money can be a great idea: “Falling prices would mean falling wages, but not falling debts, so they would become harder to pay back… http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11857507
• Judy Stephenson: ‘Real’ wages? Contractors, workers, and pay in London building trades, 1650–1800 – Economic History Society: “Institutional records of wages were profoundly affected by structural changes in the seventeenth century, particularly the emergence of large‐scale building contractors. The actual wages paid to London building workers were substantially below current estimates…” http://www.ehs.org.uk/app/journal/article/10.1111/ehr.12491/abstract
• Ted Genoways: “The Only Good Muslim Is a Dead Muslim”: “A meatpacking town in Kansas opened its doors to Somali refugees. Then a group of Trump supporters plotted to kill them after Election Day…” https://newrepublic.com/article/142346/kansas-meatpacking-somali-muslim-refugee-murder-plot-trump-supporters
• Sandra Sequeira et al.: The immigrants who made America: “US… immigration between 1860 and 1920 is found to result in significantly better social and economic outcomes today… long-run benefits of immigration can be large, can persist across time, and need not come at a high social cost…” http://voxeu.org/article/immigrants-who-made-america
• Mary Ellen Mcintyre: Hatch Says He’s Open to Keeping Obamacare’s Individual Mandate https://morningconsult.com/2017/05/17/hatch-says-hes-open-keeping-obamacares-individual-mandate/
• Alexis Madrigal: The Weird Thing About Today’s Internet: “O’Reilly’s… description of… Web 2.0… describ[es] a slightly parallel universe…. Nowadays, (hyper)linking is an afterthought because most of the action occurs within platforms…. The idea of “harnessing collective intelligence” simply [felt] much more interesting and productive than it does now…. The portrait of humanity… through… Facebook or Twitter does not… inspire confidence in our social co-productions….” https://www.theatlantic.com/technology/archive/2017/05/a-very-brief-history-of-the-last-10-years-in-technology/526767/
• Live from the Utopian Republic of Letters: An absolutely brilliant choice!: “AP: Ian Buruma Chosen as New Editor of New York Review of Books: An acclaimed essayist and historian has been chosen to succeed the late Robert Silvers as editor of The New York Review of Books https://www.usnews.com/news/entertainment/articles/2017-05-18/ian-buruma-chosen-as-new-editor-of-new-york-review-of-books…” http://www.bradford-delong.com/2017/05/live-from-the-utopian-republic-of-letters-an-absolutely-brilliant-choice-ap-_ian-buruma-chosen-as-new-editor-of-n.html

• Bridget Ansel: Climbing the career ladder, switching jobs, and the gender wage gap in the United States: “For workers with a college education, gender-based gaps in pay are primarily caused by disparities that emerge within a single workplace… https://equitablegrowth.org/equitablog/climbing-the-career-ladder-switching-jobs-and-the-gender-wage-gap-in-the-united-states/
• Nick Bunker: A reminder on the current size of the gig economy: “From 2005 to 2015, the share of workers in alternative work arrangements rose from 10.1 percent to 15.8 percent… https://equitablegrowth.org/equitablog/value-added/a-reminder-on-the-current-size-of-the-gig-economy/
• Nick Bunker: Home is where the government subsidy is: “Matthew Desmond outlines how U.S. government policy toward housing has become a source of inequality… https://equitablegrowth.org/equitablog/value-added/home-is-where-the-government-subsidy-is/
• Noah Smith: Vast Literatures as Mud Moats: “My solution to this problem is what I call the Two Paper Rule… http://noahpinionblog.blogspot.com/2017/05/vast-literatures-as-mud-moats.html
• Bob Davis: Why Trump’s Scorn for Pacific Trade Pact May Have Been Hasty: “On his first workday in the Oval Office, President Trump killed the Trans-Pacific Partnership. He will probably spend the rest of his term trying to revive parts of it… https://www.wsj.com/articles/why-trumps-scorn-for-pacific-trade-pact-may-have-been-hasty-1494763203
• Bill Janeway: Which Productivity Puzzle?: “It is now, just 50 years from the invention of the microprocessor, that the complex of digital technologies have matured… https://medium.com/@bjaneway/which-productivity-puzzle-ffe1d574ae96

Interesting Reads:

• Neera Tanden et al.: Toward a Marshall Plan for America – Center for American Progress: “People who have not gone to college have been particularly vulnerable in this economy for a long time…” https://www.americanprogress.org/issues/economy/reports/2017/05/16/432499/toward-marshall-plan-america/
• Edward Luce: Trouble in store for Trump as shop closures rise: “Addressing the plight of retail workers does not feature among president’s promises…. Mr Trump’s America faces a retail crunch as big as the manufacturing crisis of the last generation. By some estimates, the US could lose up to a third of its 16m jobs in retail within Mr Trump’s term…. Yet Mr Trump has no plans to train retail workers for the jobs of the future. Indeed, Mr Trump…” https://www.ft.com/content/5687179a-397b-11e7-ac89-b01cc67cfeec
• Nicholas Bailey et al. (2015): Correcting Signals for Innovation in Health Care: “Technology adoption accounts for 30 to 50 percent of health-care spending growth. The structure of insurance plans is a key determinant of medical technology developers’ incentives to innovate, but that structure does not currently promote high-value innovation…” http://www.hamiltonproject.org/papers/correcting_signals_for_innovation_in_health_care
• Kevin Drum: Chart of the Day: Gay Marriage Posts Another Gain: “A bit more good news…. In Gallup’s latest poll, 64 percent of Americans say same-sex marriage should be legal…” http://www.motherjones.com/kevin-drum/2017/05/chart-day-gay-marriage-posts-another-gain
• Richard Rothstein: The Color of Law: A Forgotten History of How Our Government Segregated America: “The great American suburbanization of the post–World War II years was spurred on by federal subsidies for builders on the condition that no homes be sold to African Americans. Finally, Rothstein shows how police and prosecutors brutally upheld these standards by supporting violent resistance to black families in white neighborhoods…” http://amzn.to/2pSoYlR
• Eric Miller: The Unnamed Behemoth: Review of “Public Intellectuals in the Global Arena” http://amzn.to/2pSZyVd: “Deep learning eloquently brought to bear on the contemporary moment has, quite evidently, not been enough to shore up the aging foundations of our republic… https://www.commonwealmagazine.org/unnamed-behemoth
• Leah Boustan: The Culprits Behind White Flight: “…” https://www.nytimes.com/2017/05/15/opinion/white-flight.html?smid=tw-share&_r=0
• Sahil Patel: How YouTube latecomer Vox beat the odds and built a big channel https://digiday.com/media/vox-com-tripled-youtube-viewership-one-year/
• Martin Kenney and John Zysman: What Is the Future of Work?: Understanding the Platform Economy and Computation-Intensive Automation http://www.brie.berkeley.edu/wp-content/uploads/2015/01/BRIE-WP-2016-9.pdf
• PS Editors’ Podcast: Where US Manufacturing Jobs Really Went https://soundcloud.com/projectsyndicate/ps-editors-podcast-where-us-manufacturing-jobs-really-went
• My First Call for More Expansionary Monetary Policy to Diminish the Risk of Financial Crisis: Hoisted from the Archives from Ten Years Ago http://www.bradford-delong.com/2017/05/my-firat-call-for-more-expansionary-monetary-policy-to-diminish-the-risk-of-financial-crisis-hoisted-from-the-archives-from.html
• Some Notes on Eric Miller’s Review of “Public Intellectuals in the Global Arena”… http://www.bradford-delong.com/2017/05/some-notes-on-eric-millers-review-of-public-intellectuals-in-the-global-arena.html

• Joseph Stiglitz: Illiberal Stagnation: “What went wrong? Who, if anyone, is to blame?… https://www.project-syndicate.org/commentary/illiberal-stagnation-russia-transition-by-joseph-e–stiglitz-2017-04
• David Rennie: An Economist reporter dishes on Trump’s ‘priming the pump’ interview: “On trade deals… [Trump] seems to think that… if the Mexicans seem to be doing well out of the deal at all… https://www.pri.org/stories/2017-05-12/economist-reporter-dishes-trumps-priming-pump-interview
• Barry Eichengreen: Is Germany Unbalanced or Unhinged?: “The question… is why Germany should seek to reduce its current-account surplus… https://www.project-syndicate.org/commentary/german-external-surplus-requires-public-investment-by-barry-eichengreen-2017-05

Interesting Reads:

• Women in Economics at Berkeley http://calwomenofecon.weebly.com/
• Marshall Steinbaum: Why Are Economists Giving Piketty the Cold Shoulder? http://bostonreview.net/class-inequality/marshall-steinbaum-why-are-economists-giving-piketty-cold-shoulder
• Branko Milanovic: The unknown Tocqueville in America: “Five Days in the Wilderness…” http://glineq.blogspot.in/2017/05/the-unknown-tocqueville-in-america.html
• Thomas Piketty, Li Yang, and Gabriel Zucman: Capital Accumulation, Private Property and Rising Inequality in China, 1978-2015 http://www.nber.org/papers/w23368
• Miguel Tinker Salas: The Excrement of the Devil: “How Did Venezuela Go From So Rich To So Poor?…” http://www.bbc.co.uk/programmes/p052m6sl
• Atif Mian: Major Shifts in Macroeconomics Since the Great Recession: “Since 2008 there is an additional realization that household credits are actually very important… [with] channels… quite distinct from the channel to which credits to firms might impact the business cycle…” http://en.econreporter.com/en/2017/05/atif-mian-major-shifts-macroeconomics-since-great-recession/

• Nick Bunker: How the opening to China may have partially fueled the U.S. housing bubble: “Barrot, Loualiche, Plosser, and Sauvagnat find that increased import competition does explain a good amount of the variation in household debt… https://equitablegrowth.org/equitablog/value-added/how-the-opening-to-china-may-have-partially-fueled-the-u-s-housing-bubble/
• Kavya Vaghul: Weekend reading: the #WorkingPaperTuesday edition: “Matthew Desmond tackles the relationship between homeownership and inequality… https://equitablegrowth.org/equitablog/value-added/weekend-reading-the-workingpapertuesday-edition/
• Graydon Saunders (2016): The End: “Well, it’s the events of the end; we can count 2017-01-01 or 2016-12-19 or 2017-01-20 if we want… http://dubiousprospects.blogspot.com/2016/12/the-end.html
• David Anderson: Mulvaney and the Deserving Sick: “OMB Director Mulvaney… Dennis Shea makes a very good point… https://www.balloon-juice.com/2017/05/14/mulvaney-and-the-deserving-sick/
• Dani Rodrik: Can Macron Pull it Off?: “Le Pen received more than a third of the second-round vote… And turnout was apparently sharply… indicating a large number of disaffected voters… https://www.project-syndicate.org/commentary/macron-germany-eurozone-fiscal-union-by-dani-rodrik-2017-05
• Matthew Yglesias: The latest Trump interview once again reveals appalling ignorance and dishonesty https://www.vox.com/2017/5/11/15622900/trump-economist-interview: “It seems overwhelmingly likely [Trump] is speaking nonsense out of ignorance…

Interesting Reads:

• Hannah Katch: Medicaid Works, in 5 Charts http://www.cbpp.org/blog/medicaid-works-in-5-charts
• Wikipedia: Anne Gust https://en.m.wikipedia.org/wiki/Anne_Gust#Jack_in_the_Box: “Gust joined… Gap Inc. in 1991… chief administrative officer and executive vice president from March 2000 to May 13, 2005…”
• Mai Dao, Davide Furceri, and Prakash Loungani (2014): _Regional Labor Market Adjustments in the United States _ https://www.imf.org/external/pubs/ft/wp/2014/wp1426.pdf
• Izabella Kaminska: More on the rental car canary in the coal mine https://ftalphaville.ft.com/2017/05/11/2188730/more-on-the-rental-car-canary-in-the-coal-mine/ | What Hertz tells us about the future of shared mobility https://ftalphaville.ft.com/2017/05/11/2188543/what-hertz-tells-us-about-the-future-of-shared-mobility/

• Tim Duy: The Fed Is on the Right Side of Its ‘Transitory’ Bet: “The Fed is betting that residual seasonal adjustment issues negatively impacted the first-quarter gross domestic product and that the data does not reflect the true pace of economic growth… https://www.bloomberg.com/view/articles/2017-05-08/the-fed-is-on-the-right-side-of-its-transitory-bet
• Bill Emmott: Escaping the Wage Trap: “The main reason governments are leery of intervening in labor markets… https://www.project-syndicate.org/onpoint/escaping-the-wage-trap-by-bill-emmott-2017-05
• Eric Rauchway: From Scarcity to Abundance: “The recent burst of writing on the roboticization of labor… http://crookedtimber.org/2017/05/09/from-scarcity-to-abundance/
• Aaron Reeves: Economics: The architecture of inequality: “After Piketty, edited by Heather Boushey, Bradford Delong and Marshall Steinbaum… https://www.nature.com/nature/journal/v543/n7645/full/543312a.html
• Mark Thoma: Killing Banking Rules Will Invite a Whopper of a Recession: “As for repealing Dodd-Frank, consider this statement by Treasury Secretary Steven Mnuchin… http://www.thefiscaltimes.com/Columns/2017/05/08/Killing-Banking-Rules-Will-Invite-Whopper-Recession
• Bruno Caprettini and Joachim Voth: Rage against the machines: New technology and violent unrest in industrialising Britain: “New machines have increasingly replaced humans… http://voxeu.org/article/rage-against-machines-new-technology-and-violent-unrest

Interesting Reads:

• Hannah Al-Othman: BuzzFeed News Has Been Denied Access To Campaign Events After Our Interview With The Labour Leader: “Corbyn also claimed to BBC News that he had not told BuzzFeed News he would stay on as leader even if he lost the election. But a recording of the interview proves otherwise…” https://www.buzzfeed.com/hannahalothman/buzzfeed-news-has-been-denied-access-to-campaign-events?utm_term=.aqxDlQ128#.hpzb9K7Ol
• Center for Teaching & Learning: Digital Pedagogy Fellows: “Developing a course plan that uses technology to enhance information delivery…. The Nature of Knowledge in the 21st Century. The Impact of Technology on Attention, Memory, Thinking and Motivation. Designing the Digital Learning Experience. Deciding which Technology to Use…” http://teaching.berkeley.edu/programs/digital-pedagogy-fellows
• David Furceri et al.: Gone with the Headwinds : Global Productivity: “Persistent productivity losses from a seemingly temporary shock… balance sheet vulnerabilities, protracted weak demand and elevated uncertainty, which jointly triggered an adverse feedback loop of weak investment, weak productivity and bleak income prospects…” https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2017/04/03/Gone-with-the-Headwinds-Global-Productivity-44758
• Helen Lewis: Deep in Macron Country: “We must now confront an uncomfortable question. Why did so many French people vote for Emmanuel Macron? Was it a lack of economic anxiety, or a lack of racism?…” http://www.newstatesman.com/world/europe/2017/05/deep-macron-country
• Òscar Jordá, Moritz Schularick, and Alan M. Taylor (2014): _The Great Mortgaging: Housing Finance, Crises, and Business Cycles http://www.frbsf.org/economic-research/files/wp2014-23.pdf
• Mark Wilson: Destructive Creation: American Business and the Winning of World War II http://amzn.to/2puXIub
• Justin Fox: Intellectuals Are Better Than Thought Leaders: “Those who traffic in simple, bold ideas tend to be terrible at understanding and interpreting complex reality…” https://www.bloomberg.com/view/articles/2017-05-08/intellectuals-are-better-than-thought-leaders
• John Ivison: White House advisors called Ottawa to urge Trudeau to help talk Trump down from scrapping NAFTA: “‘You never know how much of it is theatre, but it didn’t feel that way’, said one senior Canadian diplomatic source…. ‘At least they were open to the conversation, and that stopped them doing something rash and destructive…'” http://news.nationalpost.com/news/canada/canadian-politics/white-house-urged-trudeau-to-call-trump-over-nafta-threat
• Diane Coyle: Contradictions of Capital: “Taking on Thomas Piketty…” http://www.chronicle.com/article/Contradictions-of-Capital/239829
• Inclusive AI: Technology and Policy for a Diverse Urban Future http://www.bradford-delong.com/2017/05/inclusive-ai-technology-and-policy-for-a-diverse-urban-future.html
• Allan Meltzer: Rest in Peace http://www.bradford-delong.com/2017/05/allan-meltzer-rest-in-peace.html
• Hoisted from Cory Doctorow’s Archives: Blagofaire http://www.bradford-delong.com/2017/05/hoisted-from-cory-doctorows-archives-blagofaire.html

• Peter Coy: Piketty’s Capital Was So Popular There’s a Sequel: “Another hefty volume that looks at the connection between capitalism and inequality… https://www.bloomberg.com/news/articles/2017-05-08/piketty-s-capital-was-so-popular-there-s-a-sequel
• Thomas Piketty: After Piketty: The Agenda for Economics and Inequality http://amzn.to/2qSUgdl: “Had I believed that the one-dimensional neoclassical model of capital accumulation…
• After Piketty: “The Graduate Center 365 Fifth Avenue | 1201: Elebash Recital Hall | May 11, 2017: 6:30 PM http://www.gc.cuny.edu/publicprograms…
• Thomas Piketty: Lessons from “Capital in the Twenty-First Century” http://amzn.to/2qgPIRE: “I would like to see Capital in the Twenty-First Century as a work-in-progress of social science…
• Raj Chetty et al.: Trends in US absolute income mobility since 1940: “Under the current distribution… we would need real GDP growth rates above 6% per year to return… http://voxeu.org/article/trends-us-absolute-income-mobility-1940
• Nick Bunker: What’s going to reduce U.S. corporate savings?: “What, then, is behind the rise in corporate savings?… https://equitablegrowth.org/equitablog/value-added/whats-going-to-reduce-u-s-corporate-savings/

Interesting Reads:

• Egor Timurovich Gaĭdar (2012): Russia: A Long View https://books.google.com/books?id=yyzZDy2jXwAC
• (2003): Bequests: An Historical Perspective http://www.j-bradford-delong.net/Econ_Articles/Estates/DeLongEstatesMunnell.pdf
• Randall Morck, ed. (2007): _A History of Corporate Governance Around the World: Family Business Groups to Professional Managers…” https://books.google.com/books?id=F6_fngEACAAJ
• (2014): The Debt Ceiling in Historical Perspective http://delong.typepad.com/sdj/2011/06/the-debt-ceiling-in-historical-perspective.html
• Jason Furman: The Role of Economists in Economic Policymaking https://piie.com/system/files/documents/furman20170427.pdf
• Martin Ravallion: Arguments against basic income are straw men: “More universality and less fine targeting would create better social policies…” http://voxeu.org/article/arguments-against-basic-income-are-straw-men
• Globalization in the Crosshairs: Trade, Jobs, Inequality, Globalization, Robots II http://www.bradford-delong.com/2017/05/globalization-in-the-crosshairs-trade-jobs-inequality-globalization-robots-ii.html
• Reflecting on Masterclasses in Rhetoric Taught in Recent Videos… http://www.bradford-delong.com/2017/05/reflecting-on-masterclasses-in-rhetoric-taught-in-recent-videos.html
• “After Piketty” at Harvard University Press http://www.bradford-delong.com/2017/05/after-piketty-at-harvard-university-press.html
• “After Piketty” Publication Day http://www.bradford-delong.com/2017/05/after-piketty-publication-day.html
• Monday Smackdown: “Neo-Fisherism” in Monetary Economics as a “Sokal” Hoax http://www.bradford-delong.com/2017/05/monday-smackdown-neo-fisherism-in-monetary-economics-as-a-hoax.html