by New Deal democrat Variations on the Phillips Curve: unemployment and underemployment This is part of a longer post I wanted to write, and if FRED didn’t play so poorly with iPad I would put it all up. But, having finished with my cursing, let me put up a truncated version now and follow up […]
by Peter Dorman (originally published at Econospeak) Fifty Shades of Yellow? Post-Truth Then and Now Simon Wren-Lewis can’t take it anymore. I’ve just read his fulminations on the blatant dishonesty of right wing media outlets in the US and the UK, untethered to any residual professional attachment to standards of evidence and nakedly in the […]
by New Deal democrat What’s behind stalled nonsupervisory wage growth? Wage growth for nonsupervisory workers nominally has been stuck in the +2.3% to +2.5% range (or worse) for three years. Why? Over the weekend I was cleaning out some old graphs, and came across this one from the Atlanta Fed, suggesting that the Phillips Curve […]
Via Tyler Cowen, here is a piece by David Autor, David Dorn, Gordon Hanson, Gary P. Pisano and Pian Shu. Cowen quoted the most important part, so let me follow his lead: The central finding of our regression analysis is that firms whose industries were exposed to a greater surge of Chinese import competition from […]
“House leaders postponed a vote Thursday on their plan to overhaul the nation’s health-care system, casting doubt on whether President Trump and House Speaker Paul D. Ryan (R-Wis.) can deliver on one of the GOP’s central promises to the voters who placed Republicans in power. Lawmakers and White House officials continued to express confidence that […]
Here’s a graph showing the number of attorneys as a share of the US population: The increase seems pretty inexorable starting around 1970, doesn’t it? For grins and giggles, here’s snide graph on which I will make no comment: If you’re wondering where the lawyers live, a quick google search turned up this post which […]
by New Deal democrat Housing, production, and JOLTS all good news We’ve had a good run of economic news this week. First, in the leading housing sector, both of the most important datapoints made new highs. Single family permits, which are just as leading as permits overall, but much less volatile, made yet another post-recession […]
Via Economists View (some of the comments are worth review as Deirdre McCloskey comments). Also see below Peter Dorman’s Review of Economism: Bad Economics and the Rise of Inequality by James Kwak at Econospeak. Adam M. Finkel at RegBlog: It Takes “Alternative Math” to Claim That Redistribution Is Futile: The unequal distribution of costs and benefits across […]