Morning Business Memo… Thousands of US auto workers may have to cancel their vacation plans. Growing consumer demand for cars and trucks has the industry changing its usual summer vacation schedule. Ford says the traditional two-week summer break is being cut to a single week....
Brad DeLong: It is far too soon to end expansion: It was in 1829 that John Stuart Mill made the key intellectual leap in figuring out how to fight what he called “general gluts”: he saw that what had happened was an enormous excess demand...Show More Summary
An Article IV consultation for a reserve-currency sovereign that might actually matter: Rachel Cooper: >Osborne braced for IMF verdict on UK economy: George Osborne is braced for the International Monetary Fund's verdict on Britain's economic prospects amid speculation it will urge him to change course. Show More Summary
With the Yen collapsing vs. all other currencies, inquiring minds may be wondering how prime minister Shinzo Abe's inflation policy is working out in practice. Let's start with a look at the Yen. Yen Daily Chart for One Year In the last year, the Yen has fallen from 124.79 to 97.56. Show More Summary
Britain faces IMF judgment on its policy mix.
Early this year, the International Labour Organisation (ILO) had noted that the global unemployment rate was close to 6 per cent, implying that 197 million people were unemployed, even ignoring the 39 million who had dropped out of the...Show More Summary
There's a surprising degree of blogosphere acceptance of JP Morgan's messaging on the shareholder vote today regarding whether to split the CEO and Chairman roles, that this result was a vote of confidence in his prowess as CEO. Huh...
By Michael Pettis. Cross posted from Michael Pettis' China Financial Markets One of the reasons that it is been so hard for a lot of analysts, even trained economists, to understand the imbalances that were at the root of the current crisis is that we too easily confuse national savings with household savings. Show More Summary
Release of "Mission to Moscow": >"Mission to Moscow" was made at the behest of F.D.R. in order to garner more support for the Soviet Union during WWII. It was from the book by Joseph E. Davies, former U.S. Ambassador To Russia. The movie...Show More Summary
Mark Thoma: Economist's View: Inequality and Economic Growth: Paul Krugman and Tony Atkinson | Dylan Matthews: Senior poverty is much worse than you think | THE humble shipping container is a powerful antidote to economic pessimism and fears of slowing innovation. Show More Summary
Why oh why can't we have a better press corps? Charles Lane emulates Clive Crook and Michael Kinsley in not citing and not quoting from the people he is criticizing. But he goes further: he doesn't even try to read what they have just written. Show More Summary
The past several years have demonstrated the obvious point that inequality and depression will combine to produce flares of mass social unrest. You see this in Europe and the Middle East, where rising food prices had as much to do with the Arab Spring as decades of political repression. Show More Summary
(May 22, 2013 12:09 AM, by Bryan Caplan) Are instrumental variables (IV) estimates really superior to ordinary least squares (OLS)? Most high-status empirical economists seem to think so. Meta-analyses often treat IV as presumptively superior to OLS. Yet when you ponder IV output, it's often simply bizarre.Rose and... (0 COMMENTS)
Bank of England CCBS Wifi Code:
Victor Duggan, Sjamsu Rahardja, Gonzalo Varela, 22 May 2013 The
Tim Duy: And Then There is Bernanke, by Tim Duy: Lots of Fed chatter in the last week. For openers, some background from Reuters: It decided on May 1 to keep buying at an $85 billion monthly pace, and many...
Europe faces a decade of stagnation without "sustained and significant reforms," Mark Carney, the incoming governor of the Bank of England, warned.
U.S. public-education spending per student fell in 2011 for the first time in more than three decades, according to new U.S. Census Bureau data issued Tuesday.
Smoking takes 10 years off your life - but is this a sufficient reason to give up smoking? Why is a long life a better life? The United Nations Human Development Index uses life expectancy as a measure of life...