by New Deal democrat Dear Prof. DeLong: wherein I say you are wrong, trade agreements have harmed manufacturing employment. I: Germany actually undercuts your case Prof. Brad DeLong in an article earlier this week made a bold claim:  that “US trade agreements have not substantially harmed manufacturing employment. Period.”    I am making the equally […]

Focus Economics lists Angry Bear. Look to the T’s for The Angry Bear…Perhaps we will have actual policy to analyze in the future as well. We live in important times.

First note strong evidence that the rate of wage inflation is mean reverting. This is a pooled regression with data from the Old EU 15 from 1960 through 2015. Indicator variables for countries are included but the coefficients aren’t reported. dw is the percent rate of wage inflation. ddw is the change of dw. The […]

Sarah Anderson and Scott Klinger of the Institute of Policy Studies released “Tale of Two Retirements”, a study discussing how well CEOs will retire in comparison to the low and middle income citizens who only have 401ks and Social Security to retire on in the US and what President-Elect Trump’s actions will do to CEO […]

This continues joint research with Marco Fioramanti. Our aim is to understand something about European natural rates of unemployment and whether the European Commissions estimated levels which they call NAWRU (for non accelerating wage inflation rate of unemployment) are useful approximations. Here is a brief summary of work to date (prior to this note). Various […]

(Dan here…NDd takes a shot at evaluating the President Obama legacy.) by New Deal Democrat Barack Obama: a noble failure Let me preface this essay by saying that I voted for Barack Obama twice, in both 2008 and 2012. In fact in 2008 I supported him in the primary against Hillary Clinton, who I believed […]

Originally published at Econospeak by Peter Dorman Minimum Wages and Productivity I had a chuckle reading a report in today’s New York Times that describes a pair of papers on the minimum wage presented at the recently-concluded economics meetings in Chicago, especially the first, an experimental study by John Horton of NYU.  Horton set up […]

By Noni Mausa Wealth Inequality and Sentimental Credit I go to the store and buy a loaf of bread. But I haven’t actually harvested a loaf of bread (unless I am a shoplifter.) I have, instead, used a tiny scrap of credit to mobilize a farmer, a baker, a truck driver, and probably a score […]