|Filed Under:||Business & Finance / Economics|
|Posts on Regator:||2271|
|Posts / Week:||7.6|
|Archived Since:||June 7, 2008|
In his Times column today, Paul Krugman argues in favor of a higher minimum wage, suggesting that the adverse employment effects are trivial. Unfortunately, Paul presents a highly selective review of the literature. For example, this paper is relevant. Show More Summary
I see that the pope has decided to weigh in on economic issues: “Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,” Francis wrote in the papal statement. Show More Summary
The case for "yes." The case for "no."
Click here to read my column in Sunday's NY Times.
Students often ask me what George W. Bush is like as a person. This story from Dana Perino gives a great sense of what I saw and experienced as well.
I recently had the pleasure of attending the IMF Annual Research conference (where I was a discussant of a paper by Reifschneider, Wascher, and Wilcox in Session 3). You can watch the conference online here.
Click here to read my review, coming out in Sunday's NY Times Book Review, of Alan Greenspan's new book.
From a new CBO report. Click on graphic to enlarge.
How long will it take to fix the health exchange website? I have no idea. But thinking about this issue reminded me of a time when I was a grad student, and Larry Summers was an assistant professor. Larry told me that his research assistants always vastly underestimated how long any task would take. Show More Summary
A large part of the motivation of the Affordable Care Act is to provide insurance to those with pre-existing conditions. Under the law, insurance is offered to everyone at a price based on overall community risk, not the risk estimated by the insurance company based on a person's particular characteristics. Show More Summary
Via the Washington Post, here is a 2010 memo that my Harvard colleague David Cutler wrote to Larry Summers about the implementation of the Affordable Care Act. Its subject line is "Urgent Need for Changes in Health Reform Implementation."David...Show More Summary
In today's NY Times.
Marty worries about a great unraveling.
President Obama is getting heat over his often repeated claim that, under his healthcare reform, "If you like your plan, you can keep it." It is clear now that for millions of Americans, particularly those who participated in the individual insurance market, that is simply not true. Show More Summary
Here is a question for students who are learning about compounding. What is wrong with the following passage from The Economist magazine? Investors who bought Treasury bonds in 1946, when yields were around current levels, did not suffer a formal default. Show More Summary
Arnold Kling diagnoses what went wrong with the new healthcare exchange website.
The CEA analyzes its economic impact.
The abstract of a recent NBER working paper (emphasis added):We exploit a policy discontinuity at U.S. state borders to identify the effects of unemployment insurance policies on unemployment. Our estimates imply that most of the persistent...Show More Summary
Says my Harvard colleague Raj Chetty.An interesting article, which raises the following questions in my mind: Is the younger generation of economists like Raj skipping some of the big questions of economics because some smaller questions are easier to answer? If so, is that optimal from the standpoint of society as a whole?