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The Phillips Curve: Bernanke v. Kudlow

…and Edmund Phelps independently produced influential critiques of this view. Their key contribution was to observe that, if inflation expectations react to changes in actual inflation in an economically reasonable…

Spending Growth in Context

…money has been going. Kash UPDATE: For more about the contribution that this spending growth has made to the budget deficit, see my latest post, The Role of Spending Growth…

The Optimal Gasoline Tax

…of which $0.44 was attributable to gasoline taxes. But here is what I found really interesting. The contribution from refinery margins dropped from $0.79 per gallon in September to only…

On Real GDP Growth

…“negative contribution from private inventory investment”. Could this news be a harbinger of an export and investment led recovery, which would might increase the employment to population ratio to 63%…

To Worry, or Not to Worry?

…will stick by my earlier argument that if the economy does seem to soften in coming months, Katrina’s contribution to the economic weakness will have been primarily psychological, not physical…

Housing and Recession

…previous periods, housing is now the main engine of the economy. This is especially true when the substantial contribution of equity extraction to consumer spending is included. Even if housing…

Glassman on Price-Earnings Ratios

…issue, I consulted the webpage of Aswath Damodaran to find his excel file labeled “Implied Equity Risk Premiums – United States”. The purpose of Damodaran’s analysis of stock market data…

Strong Fixed Investment Demand Growth

…sales and the growth in production coming from a “negative contribution from private inventory investment”. Could this news be a harbinger of an export and investment led recovery, which would…