Economic links
More on single motherhood and the market for marriage (including the dearth of reliable men).
An amusing YouTube on “saving money like Uncle Sam”.
An animation explaining nominal GDP targeting.
Graphs of economic projections for India, China and … The paper (pdf). There has been massive drops in (pdf) global poverty in recent years, mainly (but not only) due to Chinese and Indian economic growth.
Using disaggregated data to prove the existence of macroeconomy.
Using economics (specifically comparative advantage) to deflate eugencies.
An amusing simple theory of regulation.
The Chuck Norris theory of central banking.
Stiglitz on why trade wars are a bad idea.
Speech by the Governor of the Bank of England on global capital imbalances.
Placing Americans in the range of world income-the poorest Americans are in the top 38% of people world-wide.
For all those who had to struggle through IS-LM model in macroeconomics: a short post giving reasons not to think it is not much chop. Krugman on why it continues to have value. More. Nick Rowe on fixing the IS-LM model. About the profession having moved on. Sir John Hicks ended up not impressed by it. Another attack on the IS-LM model (particularly the LM part).
Arguing that money is a good where supply is never limited by demand.
Arguing that recessions are always monetary phenomena.
A useful piece on the European banking crisis, with graphs.
Looking at the composition of job gains and losses across selected OECD countries: manufacturing is taking a hit across all of them.
A Market Monetarist critique of New Keynesian models.
A nice post (scroll down to the version in English) on the gold standard’s lessons for the euro. About the euro as massive policy failure: Meanwhile, European policy makers and central bankers are wrecking one of the most fascinating projects in human history, the unity and friendship among the countries of Europe. This is beyond depressing. Way beyond.
A flowchart to explain the ECB situation. Milton Friedman in 2000 expressing low expectations for the euro and (pdf) that low interest rates in Japan are a result of tight money.
My favourite economist has an excellent 15 minute YouTube™ on what caused the Great Recession. Giving a longer lecture on the same issue. A one-page explanation of NGDP targeting. An animated discussion of appropriate monetary policy.
Giving reasons why monetary policy has been “stuck”.
An amusing thought:
But I can't help but think that if private-sector firms really thought their forecasts were valuable, they wouldn't be giving them away for free.
Having fun with the concept of economic models:
The map is not the territory. All models are simplifications of reality. They leave masses of stuff out. That's what makes them models. That's what makes them (potentially) useful. But it's also what makes any model of a market economy self-contradictory. If the economy really were that simple, people wouldn't need markets to resolve the Hayekian problem of the coordination of the changing plans of multiple people, each with their own local knowledge.
About the myths on Volcker’s assault on inflation.
Arguing that asset prices and other indicators are being driven by reactions to Fed policy.
Not being worried about inflation because of low wage growth. Pointing out that there is a bit of movement in retail sale prices. A range of indicators suggest little inflationary pressure. A nice post on macroeconomic indicators which also provides evidence that Gov. Perry is a bad person:
I want Obama to lose come Nov 2012 as much as anybody working on Wall Street because I think he's mucked around on the AS [aggregate supply] side of the equation enough to do real damage, but I'm not willing to cut off my nose to spite my face with more unnecessary AD[aggregate demand]-induced doldrums.
US production has become more “business heavy”.
Difficulties using local workers to harvest.
Looking at Texas compared to the general US economy. Looking at Texas indicators after adjusting for demographic differences:
This is an instance of what statisticians refer to as Simpson’s Paradox. Each group earns more in Texas, yet the average is lower, because the state has higher share of the low earning groups.
About 26% of the US workforce is self-employed.
Keeping track of self-employment in Oz.
An amusing YouTube on “saving money like Uncle Sam”.
An animation explaining nominal GDP targeting.
Graphs of economic projections for India, China and … The paper (pdf). There has been massive drops in (pdf) global poverty in recent years, mainly (but not only) due to Chinese and Indian economic growth.
Using disaggregated data to prove the existence of macroeconomy.
Using economics (specifically comparative advantage) to deflate eugencies.
An amusing simple theory of regulation.
The Chuck Norris theory of central banking.
Stiglitz on why trade wars are a bad idea.
Speech by the Governor of the Bank of England on global capital imbalances.
Placing Americans in the range of world income-the poorest Americans are in the top 38% of people world-wide.
For all those who had to struggle through IS-LM model in macroeconomics: a short post giving reasons not to think it is not much chop. Krugman on why it continues to have value. More. Nick Rowe on fixing the IS-LM model. About the profession having moved on. Sir John Hicks ended up not impressed by it. Another attack on the IS-LM model (particularly the LM part).
Arguing that money is a good where supply is never limited by demand.
Arguing that recessions are always monetary phenomena.
A useful piece on the European banking crisis, with graphs.
Looking at the composition of job gains and losses across selected OECD countries: manufacturing is taking a hit across all of them.
A Market Monetarist critique of New Keynesian models.
A nice post (scroll down to the version in English) on the gold standard’s lessons for the euro. About the euro as massive policy failure: Meanwhile, European policy makers and central bankers are wrecking one of the most fascinating projects in human history, the unity and friendship among the countries of Europe. This is beyond depressing. Way beyond.
A flowchart to explain the ECB situation. Milton Friedman in 2000 expressing low expectations for the euro and (pdf) that low interest rates in Japan are a result of tight money.
My favourite economist has an excellent 15 minute YouTube™ on what caused the Great Recession. Giving a longer lecture on the same issue. A one-page explanation of NGDP targeting. An animated discussion of appropriate monetary policy.
Giving reasons why monetary policy has been “stuck”.
An amusing thought:
But I can't help but think that if private-sector firms really thought their forecasts were valuable, they wouldn't be giving them away for free.
Having fun with the concept of economic models:
The map is not the territory. All models are simplifications of reality. They leave masses of stuff out. That's what makes them models. That's what makes them (potentially) useful. But it's also what makes any model of a market economy self-contradictory. If the economy really were that simple, people wouldn't need markets to resolve the Hayekian problem of the coordination of the changing plans of multiple people, each with their own local knowledge.
About the myths on Volcker’s assault on inflation.
Arguing that asset prices and other indicators are being driven by reactions to Fed policy.
Not being worried about inflation because of low wage growth. Pointing out that there is a bit of movement in retail sale prices. A range of indicators suggest little inflationary pressure. A nice post on macroeconomic indicators which also provides evidence that Gov. Perry is a bad person:
I want Obama to lose come Nov 2012 as much as anybody working on Wall Street because I think he's mucked around on the AS [aggregate supply] side of the equation enough to do real damage, but I'm not willing to cut off my nose to spite my face with more unnecessary AD[aggregate demand]-induced doldrums.
US production has become more “business heavy”.
Difficulties using local workers to harvest.
Looking at Texas compared to the general US economy. Looking at Texas indicators after adjusting for demographic differences:
This is an instance of what statisticians refer to as Simpson’s Paradox. Each group earns more in Texas, yet the average is lower, because the state has higher share of the low earning groups.
About 26% of the US workforce is self-employed.
Keeping track of self-employment in Oz.