Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:5426
Posts / Week:12.6
Archived Since:March 2, 2008

Blog Post Archive

Education: Free Matters

(April 25, 2016 12:03 AM, by Bryan Caplan) Robin continues our exchange on the origins of educational signaling. Here's my point-by-point reply, followed by a broader observation. Robin's in blockquotes; I'm not. Normal 0 false false false MicrosoftInternetExplorer4 Where Bryan disagrees is that he sees government as the... (0 COMMENTS)

Market monetarism and market macroeconomics

(April 24, 2016 10:00 AM, by Scott Sumner) Here's Scott Aaronson: I love when important decisions fall into the hands of people who constantly second-guess themselves and worry that their own 'tribe' might be mistaken, who are curious about science and have a sense of the ironic and... (0 COMMENTS)

Frequently Insightful but Often Misleading

(April 23, 2016 04:21 PM, by David Henderson) That's the title of my review of Jonathan Kay's book Other People's Money. It appears in the latest issue of Regulation. Here's my introductory paragraph: I can't give a AAA rating to John Kay's new book on finance; it's closer... (1 COMMENTS)

Market urbanism in Houston

(April 23, 2016 09:58 AM, by Scott Sumner) Over at TheMoneyIllusion I did a recent post on the Texas economic miracle, which has survived the oil bust. Commenter ChargerCarl directed me to a very interesting slideshow (prepared by Barbara Tennant) on market urbanism in Houston, which is famous... (2 COMMENTS)

Mea Culpa on Fed and Interest Rates

(April 22, 2016 08:33 PM, by David Henderson) In my recent post on George Elgin's primer on monetary policy, I wrote: Maybe not surprisingly, what I will excerpt here makes the point that Jeff Hummel and I have been making for some time: the Fed does not set... (0 COMMENTS)

The Case Against a Basic Income Guarantee

(April 22, 2016 01:57 PM, by David Henderson) Jason Kuznicki of the Cato Institute has written a piece calling for an "Unconditional Basic Income." (I should note that he did not publish this under the auspices of the Cato Institute. I mention Cato only to identify his affiliation.)... (0 COMMENTS)

The Diction of Social Desirability Bias

(April 22, 2016 12:00 AM, by Bryan Caplan) "Sorry, I can't come to your party." This common excuse is almost always literally false. You're working? Unless your boss chains you to your desk, you can come to the party. You're in Paris, and the party's in DC... (0 COMMENTS)

Keep it simple, and pay attention to the key stylized facts

(April 21, 2016 02:29 PM, by Scott Sumner) Rajat recently left the following comment, over at TheMoneyIllusion: Scott, I know you don't like Twitter, but there has been a few exchanges going on about your argument: One between Kocherlakota and Vaidas Urba. Kocherlakota seems to think that although... (0 COMMENTS)

Selgin on Money

(April 21, 2016 12:59 PM, by David Henderson) George Selgin, over at Cato, is writing a primer on monetary policy and his first installment appeared this morning. It's excellent. Maybe not surprisingly, what I will excerpt here makes the point that Jeff Hummel and I have been making... (0 COMMENTS)

Everything You Ever Wanted to Know About Behavioral Public Choice

(April 21, 2016 12:04 AM, by Bryan Caplan) Public choice (also known as political economy) is applying economics to politics. Behavioral economics is applying psychology to economics. What happens when you do both at the same time, creating a "behavioral public choice"? Gary Lucas and Slavisa Tasic's "Behavioral... (1 COMMENTS)

It's NGDP growth expectations that matter, not inflation expectations

(April 20, 2016 04:56 PM, by Scott Sumner) For the past seven years, I've been trying to persuade my colleagues that inflation should be removed from macro models. Inflation is often used as a proxy for positive demand shocks, as when economists assume that higher inflation expectations are... (0 COMMENTS)

Property Rights Create Harmony

(April 20, 2016 03:59 PM, by David Henderson) I live in Pacific Grove, California, where we just voted on a measure to change how an area was zoned so that a luxury hotel can be built. I favor property rights and so I voted in favor of allowing... (1 COMMENTS)

Against Trolling

(April 20, 2016 12:17 AM, by Bryan Caplan) I never troll; my sincerity is controversial enough. In particular, I never (a) misrepresent my actual views, or (b) try to inspire negative emotions for their own sake. There is nothing transgressive in my heart. While I often expect my... (3 COMMENTS)

What's the matter with western Virginia?

(April 19, 2016 04:30 PM, by Scott Sumner) The title of this post is a reference to Thomas Frank's "What's the Matter With Kansas?", which analyzed the question of why voters in relatively poor states like Kansas tended to vote GOP, which is (supposedly) against their best interest.... (0 COMMENTS)

Student Analysis of Bernie Sanders' Economic Proposals

(April 19, 2016 03:29 PM, by David Henderson) Last spring, I tried an idea for a question for my final exam in Energy Economics. Here it is: Write an essay of 300 to 600 words in which you do one or both of the following: (i) Pull together... (3 COMMENTS)

My Complete Bet Inventory: 2016 Edition

(April 19, 2016 12:08 AM, by Bryan Caplan) With the kind volunteer assistance of Dan Osborne, here is an updated list of all my EconLog bets. All omissions are my fault; if you catch any, please email me. Here goes: 1. "I've bet my $200 to Walter's... (0 COMMENTS)

Bill Gates: Tax Poor People More

(April 18, 2016 12:21 PM, by David Henderson) Developing countries must also find creative ways to increase government revenue. Even the poorest nations today fund the large majority of essential services like health care and education. But many don't have the expertise and resources to raise more money... (1 COMMENTS)

A tale of two city-states

(April 17, 2016 08:36 AM, by Scott Sumner) It was the best of times; it was the second best of times. It's natural to want to compare Hong Kong and Singapore. They are among the very richest non-oil producers in the world, at least among economies having more... (2 COMMENTS)

Barbara Anderson: Learning from Children's Books

(April 16, 2016 12:43 PM, by David Henderson) She once told an interviewer that the children's book "Peter Rabbit" was an early influence on her political thinking. Her sympathies were with the gardener. "It was his lettuce," she said, "and Peter had no business stealing it." This is... (0 COMMENTS)

Forget forecasting, let's first shoot for nowcasting

(April 16, 2016 08:56 AM, by Scott Sumner) I recently did a post arguing that it's almost impossible to forecast recessions. Many commenters were surprised by my view, wondering why market monetarism doesn't provide insights into where the economy is going. The simplest answer is that if the... (0 COMMENTS)

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