Follow-up post here to John Cochrane’s clarification of the Fisher Effect. In his post, Mr. Cochrane pointed out the different ways (with stability or instability) that inflation could change to changes in nominal rates. His post includes a graph that since the Fed rate hit the ZLB, inflation has been stabilizing… something which supports the […]
John Cochrane responded to recent blogs about the Fisher Effect instigated by Noah Smith. The best thing that John Cochrane showed in his post is that there are short-run effects and long-run effects of policy rate changes upon inflation. The Fisher Effect represents the long-run effects. There are nice comments under his post. “…this is […]
If you’re like me, you’re often frustrated trying to find total (like, total) campaign spending by Democrats vs. Republicans. Outfits like the Sunlight Foundation do yeoman’s duty tallying spending, but you tend to get articles like this that (for fairly good reasons) don’t give you totals, rather breaking it down into campaign/party-committee spending vs SuperPAcs vs 501-whatever “social welfare organizations.” What’s […]
… here. It’s nonsense. Obvious, absolute nonsense. Why are so many pundits buying into this line? Maybe because they’ve heard it over and over and over, from other pundits? Sorta like other things they’ve heard over and over and over, that maybe they should stop buying? Yeah, probably.
This was published yesterday morning, but I just saw it now. I agree with almost everything it says. The one exception concerns Bruce Braley, who despite the silly controversies about chickens and Iowa Farmer Grassley, is someone I hope remains involved in Dem politics. The spot-on-ist part of this really spot-on analysis? The last two paragraphs: […]
3rd quarter Non-farm Business Sector Labor Share data came out today… 97.34 (2009 = 100) Think of labor share as real unit labor costs, since unit labor costs = labor share * inflation. (link) Labor share is much lower than it was in 2009. The basic measure that I use for the effective demand limit […]
So who won the 2014 midterm elections? The easy answer is the Republican Party. On election night, the party managed to seize control of the Senate by picking up at least seven seats previously held by Democrats, a goal that has eluded Republicans since 2006. The GOP also captured at least 14 House races, expanding […]
Dan here…Jan points us to a response to ‘hiatus’ of climate change. by Jan Galkowski (reposted from Hypergeometric) A conclusion that “the hiatus” in global land surface warming is natural variability Lovejoy provides conclusive statistical evidence, free of use of climate models, that the so-called “hiatus” in global land surface warming is due to natural variability […]
by Sandwichman (reposted from Econospeak) Public Works, Economic Stabilization and Cost-Benefit Sophistry I. Public Works and Economic Stabilization This is where it all began. The National Resources Board’s 1934 Report on National Planning and Public Works contained a radically different vision of the methods and purposes of conducting a cost benefit analysis than what has subsequently […]
If they had proper regard for science, politicians in both parties would fight harder against the devastating cuts to federal research that have happened under sequestration, endangering medical progress and jeopardizing our global leadership. And lawmakers trying to prove their fiscal prudence wouldn’t irresponsibly smear all scientific inquiry by cherry-picking and theatrically denouncing the most […]