Relevant and even prescient commentary on news, politics and the economy.

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The Texas Miracle, Yet Again

…and Houston will show greater growth. Oh, well. In fact, looking at the Bottom 10—the lowest total Personal Income areas that show no loss in each of the past two…

Tax extenders legislation

…outset. They were quite clear that they planned to make the tax cuts permanent eventually, but they figured that revenue losses of $1.3 trillion or so in the first ten…

Tax cuts and Republican leaders

…dollars in revenue by extending the tax cuts on relatively wealthy Americans, that loss will be more than offset by the growth spurred by keeping the money in taxpayers’ pockets….

Five Million Jobs?

…growth, leaving an implied net loss of around 200,000 jobs over the 48-year period. What those calculations show, more than anything, is how sensitive any employment projections are to the…

Nick Rowe asks if new Keynsian models make sense

…equilibrium with a constant price level. I will assume that my loss from having other than the best price is quadratic in log price (just because I want to and…