by Joseph Joyce Economic Consequences of Populism Who is the true populist: Bernie Sanders, who promises single-payer health care and college without tuition, or Donald Trump, who campaigned on a promise to “drain the swamp”? Jeremy Corbyn of the UK’s Labour Party, who wants to nationalize public-sector firms, or Marine Le Pen of France’s National […]
(Dan here…Biagio Bossone will be joining contributors to Angry Bear. Here is his first post for AB concerning the impact of exchange rates) by Biagio Bossone (Biagio BOSSONE is an Italian national, currently advises the World Bank Group/IMF on financial sector development issues and technical assistance programs in several countries in Africa, Asia and […]
(Dan here….Corrected code to fit the format and reposted) by New Deal Democrat HEADLINES: +261,000 jobs added U3 unemployment rate down -0.1% from 4.2% to 4.1% U6 underemployment rate down -0.3 from 8.2% to7.9% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, but Want […]
by Joseph Joyce 2017 Globie: “Grave New World” Once a year I choose a book that deals with an aspect of globalization in an interesting and illuminating way, and bestow on it the “prize” of the Globalization Book of the Year (known as the “Globie”). The prize is strictly honorific—no check is attached! But I […]
Saudi Crown Prince Consolidates Power With Anti-Corruption Arrests Everybody is against corruption, so it has become the new cool way to concentrate power in dictatorial societies to engage in an anti-corruption drive, as Putin and Xi Jinping have done. Actually corrupt people may well be arrested, but somehow included in the set of those arrested […]
What happened to the European Phillips Curve ? Recently many have argued that the Phillips curve has become the Phillips horizontal line. I am old enough to remember when the hot new idea in macroeconomics was that the long run Phillips curve is vertical so inflation varies but unemployment stays near the natural rate and […]
(/Dan here…lifted from Robert’s Stochastic Thoughts) The Long Run and International Economics I am still thinking about Krugman and the Gravelle GeardownDo click the link if you are interested in understanding what I am typing about. Very briefly the question is: what effect would cutting the tax on profits have on the _US capital stock ? […]
Paul Krugman finds intuition for the calculations of Jennifer Gravelle difficult. Now even more than usually, you really have to click this link to know what I am typing about. My comment. yes that intuition is difficult. I have an attempt. So 1% of GDP is tradable. Also consumption and total production fixed. Mars cuts […]
Halloween potpouri Some comments on the economic data from yesterday and this morning… 1. Personal income and spending. Real, inflation adjusted income was flat, while real spending was up +0.6%. Which means the personal saving rate declined to a new expansion low: We’ve had a steep decline in the savings rate in the past year. […]
A NAWRU proposal Marco Fioramanti and I have strongly criticized the European Commission DG EcFin Output Gap working Group estimates of output gaps. I have also written a lot here at angrybearblog This topic is very important, because the output gaps are used to calculate cyclically corrected budget balances which are regulated by the Stability […]