Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:6303
Posts / Week:12.8
Archived Since:March 2, 2008

Blog Post Archive

What a Bet Shows

(June 14, 2017 02:17 PM, by Bryan Caplan) Whenever I win a bet, critics rush to say, "This doesn't prove you know better than me." They're right: Bets "prove" nothing. But that's a silly standard. For empirical questions, definitive proof is unavailable, so we have to settle for... (0 COMMENTS)

What monopsony power in the labor market looks like

(June 13, 2017 08:53 PM, by Scott Sumner) In previous comment sections, I've seen a lot of confusion over the concept of "monopsony power", which means the buyer can influence the price of what they buy. It is the buyer side equivalent of sellers having "monopoly power". Many... (0 COMMENTS)

Forcibly Paid Parental Leave

(June 13, 2017 03:40 PM, by David Henderson) When is a policy not a policy? When it's the policy you disagree with. The AEI-Brookings Working Group on Paid Family Leave has published its report, "Paid Family and Medical Leave: An Issue Whose Time Has Come." HT2 Timothy Taylor.... (1 COMMENTS)

The Fed needs a new "theory"

(June 12, 2017 03:52 PM, by Scott Sumner) Caroline Baum directed me to a WSJ article on the Fed. It begins as follows: The Federal Reserve's interest-rate increases aren't having the desired effect of cooling off Wall Street's hot streak. That's already got me worried, as "Wall Street"... (0 COMMENTS)

Immigration Charity at Work

(June 12, 2017 01:56 PM, by Bryan Caplan) I'm still looking for cost-effective ways to promote freer immigration. But one EconLog reader, who prefers to be known solely as "Isaac," is forging ahead with the best tools he's got. Reprinted with Isaac's permission...Bryan: Based entirely on following your... (0 COMMENTS)

How Much Pee in Your Pool?

(June 12, 2017 01:48 PM, by David Henderson) The scientists calculated that one 220,000-gallon, commercial-size swimming pool contained almost 20 gallons of urine. In a residential pool (20-by-40-foot, five-feet deep), that would translate to about two gallons of pee. It's only about one-hundredth of a percent, but any... (0 COMMENTS)

Preach What You Practice

(June 11, 2017 06:55 PM, by David Henderson) Using a borrowed credit card, the blonde Caroline Biden set up an unauthorized customer account at Bigelow Pharmacy on Sixth Avenue in Greenwich Village, and racked up the six-figure bill over the course of a year, according to a... (0 COMMENTS)

Does tribalism breed extremism?

(June 11, 2017 09:39 AM, by Scott Sumner) Imagine that 80% of voters prefer normal sensible candidates, and 20% prefer wild extremists. Who would come out ahead under a democratic system of government? It might seem like the sensible candidates had the advantage. And that was certainly the... (2 COMMENTS)

The WSJ on the German trade surplus

(June 9, 2017 06:17 PM, by Scott Sumner) Ramesh Ponnuru directed me to a couple of Wall Street Journal pieces on the German trade surplus. The first, by Greg Ip, argues that President Trump was partly correct in pointing to this as a problem: President Donald Trump took... (0 COMMENTS)

A Small but Significant Step Away from Peronism

(June 9, 2017 12:59 PM, by David Henderson) Jeff Sessions's attack on corruption. I posted last December about Trump's first picks for his cabinet and stated that one of his worst picks, in what was a surprisingly good domestic lineup, was his Attorney General Jeff Sessions. But... (0 COMMENTS)

Balan on the Immigration Bet

(June 8, 2017 02:24 PM, by Bryan Caplan) The noble David Balan emailed me the following observations on our immigration bet. With his kind permission: I do agree that Bryan has won our bet. But I will commit the following violation of the Bettor's Oath. In the blog... (0 COMMENTS)

Sunstein Backs Down on Libertarian Marriage

(June 7, 2017 09:59 PM, by David Henderson) In the most recent Econ Journal Watch, Cass Sunstein states that he has changed his mind about one of the most libertarian proposals he and co-author Richard Thaler make in their book Nudge: Improving Decisions About Health, Wealth, and Happiness.... (0 COMMENTS)

Unfortunately, I Win My Obama Immigration Bet

(June 7, 2017 02:07 PM, by Bryan Caplan) Two and a half years ago, I made the following bet with Nathaniel Bechhofer:If, by June 1, 2017, the New York Times, Wall St. Journal, or Washington Post assert that one million of more additional illegal immigrants have actually received... (0 COMMENTS)

Should declining mobility impact monetary policy?

(June 7, 2017 09:25 AM, by Scott Sumner) David Beckworth has a new post discussing the implications of declining interstate mobility for whether or not America is an optimal currency area. Adam Ozimek has a post suggesting that lower labor mobility might imply a need for additional monetary... (3 COMMENTS)

Will anti-free market conservatism prove electorally successful?

(June 6, 2017 03:33 PM, by Alberto Mingardi) The "free market" strain of conservatism is considered obsolete pretty much everywhere, a relic of the past, particularly among conservative politicians. These latter aim to provide voters with more energetic plans to action, a robust vision of the role of... (0 COMMENTS)

Mean Reversion and the Permanent Income Hypothesis: Suggested Answer

(June 6, 2017 02:00 PM, by Bryan Caplan) Yesterday I asked:Suppose you - and you alone - discover that the stock market is mean-reverting. True, False, and Explain: If you are rational, you will NOT obey the permanent income hypothesis.To review: If the stock market is mean-reverting, low... (0 COMMENTS)

The Nightmare in Your Future

(June 6, 2017 11:32 AM, by David Henderson) The title of this post is the subtitle of a talk I gave in about 2004 at Santa Clara University. The whole title was "Social Security: The Nightmare in Your Future." I had two goals: (1) to get students paying... (8 COMMENTS)

Mean Reversion and the Permanent Income Hypothesis

(June 5, 2017 05:47 PM, by Bryan Caplan) 800x600 Here's a question from my last Ph.D. Microeconomics exam. Post your answers in the comments, and I'll share my suggested answer tomorrow.Suppose you - and you alone - discover that the stock market is mean-reverting. True, False, and... (1 COMMENTS)

Joseph Schumpeter on the Decline of Applebee's

(June 5, 2017 05:47 PM, by David Henderson) "Now there's [sic] many, many options that people are replacing chains with," Victor Fernandez, the executive director of insights at the restaurant-industry tracker TDn2K, recently told Business Insider. Many of these options involve cooking at home. Grocery chains are increasingly... (0 COMMENTS)

Trade Deficit or Stuff Surplus?

(June 5, 2017 12:22 PM, by David Henderson) Notice that if imports exceed exports, as they have done for decades in the United States, then, on net, more dollars leave the United States by Americans' purchases of imports than come in by Americans' sales of exports. Such... (1 COMMENTS)

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