…through a lot of hoops and find that the optimal top marginal income tax rate (all in, that is, including federal, state and local), which they define as maximizing social…

…when he claims that the Fed can’t target nominal GDP when we are in a liquidity trap. I would define targeting X as making the conditional expected value of X…

…Kapoor, managing director of Re-Define an Economic Think Tank. I promise you that this is a widespread although not universal view. But the associated Press reporter just can’t face the…

…XM, but let’s not). We shorthand this as “aggregate output.” Even if we weren’t pretending it’s constant in the short-term, we can fairly well define this and hold to the…

…have stats based on a term that has not been defined. How do you know that HFT volume in the US moved up to 63% without knowing what that term…

…do? Via Reihan Salam, Yuval Levin proposes a revised version of Ryan’s plan that’s based on a genuine conviction that market forces can work. Each year, Medicare would define a…

It’s not just that you make a mistake; it’s that you cling desperately to that mistake and let it define you. Katrina revealed George W. Bush’s basic incompetence in a…

…to place. The historical literature on the hide is vast and in places astonishingly bitter but at risk of stirring ghosts of historians past I am going to define it…

Brad DeLong asks why it hasn’t been done, if it hasn’t been done. The biggest problem I can see is that you don’t know how insane the participants are—and that…

…question that is often quite tricky in enumerated powers cases–that must be resolved before reaching the inactivity issue. Namely, one has to define exactly what conduct Congress is regulating in…