The large international imbalances accumulated in the Eurozone have proven difficult to unwind during the recent Crisis. This column argues that market reforms had a role in generating current account imbalances, and that patterns of relative labour market regulation could be equally important in the aftermath of the Crisis.
There is a debate among economists about the effects of serfdom on economic development. This column sheds light on this debate using novel dataset from 19th-century Russia. The findings indicate that serfdom was a crucial factor causing economic slowdown. Show More Summary
Here's a brief update from "Ellen" who lives in Lviv, a city in Western Ukraine. Hello MishWe have quite a panic over the collapse of currency. People buy any food product that can be stored. Everyone wants to rid of Hryvnia. We haven't seen anything like this since 1991 when the Soviet Union collapsed. Show More Summary
The party at the pump is over. Gas is averaging $2.37 per gallon nationwide, up 34 cents in the last month
Thomas Piketty: [Putting Distribution Back at the Center of Economics: Reflections on Capital in the Twenty-First Century](http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.29.1.67): "In their contribution to this symposium, Acemoglu and Robinson present cross-country regression results... Show More Summary
John Maynard Keynes: [The General Theory of Employment, Interest and Money](https://www.marxists.org/reference/subject/economics/keynes/general-theory/ch12.htm): "Thus the professional investor... >...is forced to concern himself with...Show More Summary
Nils: [Breaking the Web](http://www.bradford-delong.com/2015/02/noted-for-your-evening-procrastination-for-february-26-2015.html?cid=6a00e551f08003883401b7c7553a51970b#comment-6a00e551f08003883401b7c7553a51970b): "The Deane Barker column was touching... Show More Summary
Tony Yates expresses shock that someone calling himself a market monetarist could reject Milton Friedman’s famous “long and variable lags” claim about monetary policy. I have great respect for Friedman, but when I did my research on monetary policy in the interwar years (which is the period where it is easiest to clearly identify monetary […]
Ride-hailing startup says breach exposed drivers license numbers and other data in multiple states
The low price of oil is poised to hurt the Texas oil industry in the form of massive job cuts
For equities, diverging views on interest rates and corporate earnings will likely add up to more turbulence next month
From the FDIC: Banco Popular De Puerto Rico, Hato Rey, Puerto Rico, Assumes all of the Deposits of Doral Bank, San Juan, Puerto RicoAs of December 31, 2014, Doral Bank had approximately $5.9 billion in total assets and $4.1 billion in total deposits.... Show More Summary
(February 27, 2015 08:02 PM, by Scott Sumner) Bryan Caplan offers conventional views on a wide range of issues. Instead of offering my own, I'll comment on his: 1. Most academics are out of touch with the real world and have little useful to say about it. The... (0 COMMENTS)
Next week’s calendar is chock-full of important data, especially the February jobs report Friday. Weather and West Coast port problems could distort some numbers, however, so be cautious. Here are five things to watch.
Nick Bunker: Weekend Reading <--Nick's five must-reads plus a chart... Charlie Jane Anders: "In the hands of most... Spock would have been a one-note joke character: the guy who spouts off formulas and equations in a monotone.... But Nimoy imbued Spock with a life and complexity that were impossible to deny.... Show More Summary
Must- and Shall-Reads: Claire Cain Miller: [More New Jobs Are in City Centers, While Employment Growth Shrinks in the Suburbs](http://www.nytimes.com/2015/02/24/upshot/more-new-jobs-are-in-city-centers-while-employment-growth-shrinks-in-the-suburbs.html) <--yet another fixed cost about to be imposed on the working and lower classes... Show More Summary
[Bruce Springsteen - She's The One (Includes Gloria & Not Fade Away) / Landover 1978 - YouTube](https://www.youtube.com/watch?v=Koogv4fLLnM):
Alejandro Justiniano, Giorgio Primiceri, and Andrea Tambalotti at Vox EU: Credit supply and the housing boom:... Conclusion In this column, we argued that any reconstruction of the fundamental causes of the housing and credit boom that preceded the Great...
In the wake of existing home sales reports on Monday, and new home sales yesterday, GDP and residential investment forecasts came tumbling down.Check out the latest "GDP Nowcast" from the Atlanta Fed."The GDPNow model forecast for real...Show More Summary
Net neutrality advocates buzz cable giant with a plane towing an image of the frowning feline