The sharp jump in the March trade deficit reported this morning means that GDP in the first quarter will be revised into negative territory. The $51.4 billion trade deficit reported for March, was $15.5 billion increase from the $35.9 billion deficit reported in February. Show More Summary
Buffett-palooza concluded on Sunday. During the annual shareholder meeting of Warren Buffett’s Berkshire Hathaway, which has evolved into a kind of Woodstock of capitalism, thousands of people converge on Omaha, Nebraska, to celebrate...Show More Summary
At MoneyWatch: Ben Bernanke's bad example, by Mark Thoma: The recent announcements that former Federal Reserve Chairman Ben Bernanke has accepted a position as a senior adviser at Pimco and a similar position at hedge fund Citadel have raised questions...
From the MBA: Mortgage Applications Decrease 4.6 % in Latest MBA Weekly SurveyMortgage applications decreased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications...Show More Summary
A solid empirical result is that voters reward governments for recent economic prosperity. This column presents new evidence that the electoral fate of governing parties is also associated with the electorate’s wider ‘subjective well-being’. Policymakers who want to win should focus on more a broad range of factors that matter to the quality of people’s lives.
Soft economic data in the first three months of 2015 should give Fed officials pause when it comes to raising interest rates, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said.
Greeks say euro zone and IMF at odds in bailout talks.
By David Dayen, a lapsed blogger. Follow him on Twitter @ddayen. Because of the blinkered way we talk about the economy in this country, news that the trade deficit widened in March well above consensus expectations will undoubtedly be met by cries that we must create more free trade deals to counteract that. Of course, […]
The reason I'm filling in today and tomorrow is that Yves is in Washington for the INET Finance and Society conference, which is unique because it features a dozen and a half speakers, every one of them a woman, from Fed Chair JanetShow More Summary
(1) Rihanna, American Oxygen. The video for this song from mega-pop-star Rihanna’s new album R8 is pretty interesting–with lyrics that seem to be about the so-called “American Dream,” and which could almost be a patriotic anthem, but with at least one … Continue reading ?
Our level of income is unarguably dependent on where we live in the world. But evidencing this is tricky. This column presents a model that explains global income variability using one variable only – where you live. The results suggest that we might want to reassess how we think about both economic migration and global inequality of opportunity.
As many other central banks in the Asian region, the People Bank of China (PBoC) has been on an easing mode for a few months now and more seems to be in the store. The once relatively polarized debate on what the PBoC monetary policy stance should be has increasingly leaned towards additional easing. Show More Summary
Mankiw tells us in his most recent NYTimes column that economists agree that Free Trade is good. He links to a poll in which, essentially, mainstream economists of different persuasions, some Keynesian and some not, and different political views, some liberal and some conservative, say that trade agreements are good. Show More Summary
(May 6, 2015 12:16 AM, by Bryan Caplan) There really ought to be a paper on George Orwell and Public Choice. Thanks to Loyola University senior Michael Makovi, there finally is. He's done a great job - "George Orwell as Public Choice Economist," forthcoming in The American Economist,... (0 COMMENTS)
Cycle screening measures were weaker on Tuesday. Yet again there was no follow through on the strengthening of the past several days. Have the bears gotten the upper hand. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you…
Those who claim there will be no Greece contagion need consider yields in other European bonds.In spite of the fact the ECB is buying 60 billion euros of debt a month for 19 months, yields on many longer-dated bonds are rising.SpainShow More Summary
Must- and Should-Reads: Must-Read: Martin Wolf: [The British economy after the coalition](http://equitablegrowth.org/?p=11223) Paul Krugman: ["The great sociologist William Julius Wilson argued long ago that widely-decried social changes... Show More Summary
T on Niall Ferguson's WWI Book: >His WWI book was awful. It's entire premise is anachronistic, and it shows the same predilection for snide ad hominem attacks as the rest of his writing. I beg to differ. I thought that Ferguson"s World...Show More Summary
The Federal Reserve shouldn't raise its benchmark short-term interest rate in 2015, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota reiterated Tuesday.