Menzie Chinn provides a link to an interesting analysis from the Bureau of Labor Statistics in his post entitled Properties of Some Labor Market Indicators. Dr. Chinn’s post is an interesting read in itself but take a peek at chart 1 of the BLS paper, which compares the payroll survey and the “adjusted household survey”. […]
While macroeconomists spend a lot of effort trying to understand the volatility of output, we spend less time worrying about whether output should be measured by real GDP or real GNP. As we discussed here, the difference between GNP and GDP (known as net income from abroad) is quite modest for the U.S. If we […]
As the GOP argues that Congress is cutting spending to reduce the deficit, Robert Greenstein, Joel Friedman, and Aviva Aron-Dine present evidence that demonstrate: (1) their actions will actually increase the deficit and (2) their actions are just another example of reverse Robin Hood-ism: Sometime early next year, the House of Representatives is expected to […]
Kash treats us to a recent analysis of corporate taxation from the CBO with page 9 addressing transfer pricing: Internal transfer pricing provides another means for shifting profits out of high-tax countries. Multinational corporations engage in a substantial amount of international trade between affiliated companies located in different countries. A multinational firm may try to […]
PGL’s insightful post about corporate taxation and Ireland’s economic growth reminded me of something I read recently from the CBO. In November they published a very interesting report entitled “Corporate Income Tax Rates: International Comparisons.” A few weeks ago I noted the surprising fact that Ireland actually taxes capital income at a much higher rate […]
A couple of weeks ago Kash challenged a claim that Ireland’s growth was due to low taxation of capital income: Ireland has indeed been the fastest growing economy in the OECD (that’s the club of the world’s richest countries). But it has HIGH taxes on capital, not low ones. Since I’m Irish, I have been […]
Dr. Chinn begins his post by quoting the President’s year-end list of accomplishments: The Economy Is Growing And Creating Jobs. Since May 2003, the economy has added nearly 4.5 million new jobs. The unemployment rate is down to 5 percent – lower than the average for the 1970s, 1980s, and 1990s. Last quarter, the economy […]
Stephen Dinan of the Washington Times argues that it can and it should: “There is a general agreement about the fact that citizenship in this country should not be bestowed on people who are the children of folks who come into this country illegally,” said Rep. Tom Tancredo, Colorado Republican, who is participating in the […]
Via BubbleMeter, this graph of the value of GDP and the total value of all housing (the creator of the graph titled it “THIS IS THE HOUSING BUBBLE”): It’s hard to see how population growth or shifts in other economic fundamentals explain why the value of housing should now be over 1.5 times the value […]
One of the joys of blogging is that one occasionally gets interesting emails from AB readers such as this one: When a US based manufacturer (Caterpillar jumps to mind) makes products in Brazil and sells them in Europe, would that count as an export? What about a Toyota Camry manufactured in Ohio? Is that an […]