Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:4474
Posts / Week:12
Archived Since:March 2, 2008

Blog Post Archive

Substitution in Nicotine Consumption

(April 17, 2015 02:53 PM, by David Henderson) Yesterday's electronic New York Times and today's print edition carries the news story "Use of E-Cigarettes Rises Sharply Among Teenagers, Report Says" by Sabrina Tavernise. It's actually very good. Indeed, it reminds me of some of the best of the... (0 COMMENTS)

Congress sets the goals, the Fed sets the intermediate target

(April 16, 2015 12:45 PM, by Scott Sumner) Over at TheMoneyIllusion I have a long post discussing Ben Bernanke's recent comments on monetary reform. There is one issue that seems especially important, and I wanted to devote an entire post to the subject. Here's Bernanke: I want to... (0 COMMENTS)

Is Ciudadanos a hope for Spain?

(April 16, 2015 07:12 AM, by Alberto Mingardi) With the UK and Spain going to the ballot box in the next few months, European politics is certainly more than Greece, at the moment. We know that the polls are rather foggy about England, but Spanish politics risks becoming... (0 COMMENTS)

Is the Fed allowed to create GDP prediction markets?

(April 15, 2015 03:54 PM, by Scott Sumner) In the comment section of a recent blog post, David Andolfatto asked the following question: Scott, Does it fall within the Fed's present Congressional mandate to create markets in the instruments you want? (I honestly don't know. If we do,... (0 COMMENTS)

Did Edwin Cannan Think a 100 Percent Income Tax Rate Was Fair?

(April 15, 2015 12:41 PM, by David Henderson) The earliest 20th-century reference I have been able to find to a Laffer curve effect is in a 1901 article by London School of Economics professor Edwin Cannan. While conceding that a 100 percent tax rate on amounts earned that... (0 COMMENTS)

The wrong way to fix Social Security

(April 14, 2015 02:05 PM, by Scott Sumner) Governor Chris Christie wants to reduce Social Security benefits for the rich: As part of the plan, he'll propose phasing out Social Security payments for those making more than $80,000 in other income and eliminating them for those making $200,000... (0 COMMENTS)

The Libertarian Target

(April 13, 2015 12:08 AM, by Bryan Caplan) Libertarianism has a wealth of prominent, persistent opponents, starting with Paul Krugman and Salon. Who precisely are they criticizing? Probably not the 9-14% of Americans who are economically conservative but socially liberal. No, the critics target self-conscious libertarians - people... (1 COMMENTS)

There is no sticky wage puzzle

(April 12, 2015 10:51 AM, by Scott Sumner) Most people find the NGDP shock/sticky wage theory of the business cycle to be at least slightly plausible. However I'm often asked why wages have not adjusted yet. Surely it doesn't take 7 years for full adjustment to a negative... (0 COMMENTS)

Don't blame the workers

(April 11, 2015 01:39 PM, by Scott Sumner) A popular Keynesian theory of recessions is that nominal wages are sticky, and hence reductions in aggregate demand lead to high unemployment. They often go on to advocate more government spending to put people back to work. Free market economists... (4 COMMENTS)

Everything's Amazing and I'm Happy!

(April 10, 2015 05:40 PM, by David Henderson) Did I ever optimize in using one of my last "free" passes to the United Red Carpet Club in LAX! I flew down from Monterey to LAX early this morning, with a 3-hour gap between flights. That made it reasonable... (1 COMMENTS)

The Public Choice Behind Carbon Taxes

(April 10, 2015 02:28 PM, by David Henderson) Jerry Taylor of the Niskanen Center, who co-authored an excellent piece, "Energy," in The Concise Encyclopedia of Economics, has a post titled "Oil and Gas Industry Opinions about Climate Change." He writes: My colleague Sarah Hunt pointed out yesterday that... (13 COMMENTS)

Krugman versus the Audit Heuristic

(April 10, 2015 01:15 AM, by Bryan Caplan) My two favorite liberals have repeatedly told me, "Paul Krugman is right about virtually everything." When my favorite liberals praise Krugman's position about a topic I don't thoroughly understand, I hold my tongue. Recently, though, Krugman staked out strong positions... (0 COMMENTS)

Krugman's Insightful Analysis of Libertarians

(April 9, 2015 01:53 PM, by David Henderson) I was too busy on April 1 to post an April Fool's Day entry. This isn't one. But my use of the word "insightful" in the title is meant to be ironic. A few days ago, Paul Krugman posted that... (0 COMMENTS)

Will the EU help Uber?

(April 9, 2015 07:08 AM, by Alberto Mingardi) The Financial Times reports that the European Commission is planning an in-depth study into the European taxi market, most likely to find a way out to the Uber dead end in which quite a few member-states are finding themselves. Opposition... (0 COMMENTS)

Kevin Carey's The End of College: Wrong But Beautiful

(April 9, 2015 12:09 AM, by Bryan Caplan) Finished Kevin Carey's The End of College. My verdict: Wrong but beautiful. Wrong, because brick-and-mortar college isn't "ending" in our lifetimes. Beautiful, because Carey makes us stop taking online education for granted, and feel the awe this historic achievement deserves.I've... (0 COMMENTS)

Ed Dolan on ShadowStats

(April 8, 2015 06:51 PM, by David Henderson) It is hard to think of a website so loved by its followers and so scorned by economists as John Williams' ShadowStats, a widely cited source of alternative economic data on inflation and other economic indicators. So begins economist Ed... (0 COMMENTS)

Low interest rates do not call for more investment

(April 8, 2015 10:03 AM, by Scott Sumner) A few weeks ago I criticized a Robert Shiller claim that economic theory tells us that low interest rates should lead to more investment. That's an EC101 level error, reasoning from a price change. Unfortunately, I see this all the... (0 COMMENTS)

How Econ Melts Your Brain

(April 8, 2015 12:12 AM, by Bryan Caplan) Learning economics changes your life and improves your mind. As Dilbert creator Scott Adams insightfully observes, "When you have a working knowledge of economics, it's like having a mild super power." Yet when grading economics exams, I often notice a... (1 COMMENTS)

Using monetary policy to prevent financial instability

(April 7, 2015 09:30 PM, by Scott Sumner) Ben Bernanke has a very good post on the topic of using monetary policy to stabilize asset markets, with the ultimate goal being greater financial stability. I have a post over at MoneyIllusion that comments on his post, but here... (0 COMMENTS)

I Am NOT Charlie Hebdo

(April 7, 2015 04:00 PM, by David Henderson) After the horrible murders of workers at the French newspaper Charlie Hebdo in January, it became chic for a few weeks to wear buttons saying "I am Charlie Hebdo." I thought that was a mistake then and I almost wrote... (0 COMMENTS)

Copyright © 2015 Regator, LLC