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Paul Krugman Was Right. I, Ken Rogoff, Marty Feldstein, and Many, Many Others Were Wrong

[Over at Equitable Growth][4]: The question is: Why were we wrong? We had, after all, read, learned, and taught the same Hicks-Hansen-Wicksell-Metzler-Tobin macro that was Paul Krugman's foundation. Yesterday I wrote: [New Economic Thinking,...Show More Summary

Multipliers and Reality

What consumers don't know can hurt your modeling efforts.

All But One of America’s Big Metro Areas Added Jobs in April

All but one of the biggest U.S. metropolitan areas added jobs over the past year, and only two had higher jobless rates in April than they did a year ago.

Biggest gift ever: Harvard grad gives school $400M

Harvard received the gift from a Wall Street investor amid a $6.5 billion fundraising campaign that started in 2013

L.A. could become latest city to pass $15 minimum wage

The vote would bring a $15-an-hour wage by 2020 -- more than double the current federal minimum

5 Highlights of Mario Draghi’s June Presser

Unlike his last outing, Mario Draghi's latest news conference passed without protest. But it was a little more substantial than many had expected.

Reply to Austan Goolsbee

(June 3, 2015 10:40 AM, by Scott Sumner) In a tweet, former Obama economic advisor Austan Goolsbee asked: q for NGDP target fans: if fed target=5% when actual=0, implicitly means target 5% infl for 1 yr. Wouldn't mkt doubt 5% infl just temporary? The answer (from a fellow... (0 COMMENTS)

ISM Non-Manufacturing Index decreased to 55.7% in May

The May ISM Non-manufacturing index was at 55.7%, down from 57.8% in April. The employment index decreased in May to 55.3%, down from 56.7% in April. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply...Show More Summary

Can you get a new Social Security number?

Can you get a new Social Security number? Usually, the answer is no -- except under these circumstances

ADP: Hiring picked up in May

Job growth among private companies accelerated last month, a sign the economy is rebounding from weakness earlier this year


Why the job-hunting class of 2015 should study digital dating

3 Answers from Alex Nowrasteh

(June 3, 2015 09:26 AM, by Bryan Caplan) Alex responds to the questions I asked him yesterday. Read the whole thing, but here are my original three questions, with summaries of his answers in blockquotes:1. How much higher would cumulative Mexican immigration since 1986 have been if the... (0 COMMENTS)

The AERE Summer Conference begins today!

And I'm not there (sigh): The fourth annual AERE Summer Conference will be held Wednesday, June 3, to Friday, June 5, at the U.S. Grant Hotel located in the lively and historic Gaslamp Quarter of San Diego, California. An all-day pre-conference workshop, led by Meredith Fowlie (University of California, Berkeley)...

Precious Metals Stocks Uptick

Precious Metals stocks had a tiny uptick on Tuesday as gold stayed home on the range. This report shows the trends and key benchmark levels that should signal where prices are heading next. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition Precious Metals Pro Report risk free…

Liveblogging World War II: June 3, 1945: Harry S. Truman to Bess W. Truman

[Letter from Harry S. Truman to Bess W. Truman, June 3, 1945]( >This is a lonesome place. Show More Summary

The second step

A few weeks ago, I published a post discussing the minimum acceptable level of Fed accountability.  At a minimum, any institution needs to establish some procedure to evaluate how they are doing their job.  The Fed’s main job is to use its policy instruments to nudge AD up or down in a way that they […]

Nissan aims its new Maxima at some strong rivals

An early test drive finds a worthy competitor to entry-level luxury models from Audi, Acura and BMW -- worthy enough?

The Jerk Theory: New research on whether nice guys finish last

Apparently being a jerk has its perks. Jerry Useem lays out the research in his article, "Why it pays to be a jerk," in this month's issue of The Atlantic. Researchers describe how semi-obnoxious behavior and overconfidence can make a person not only seem more powerful, but actually make them more powerful.

Secular stagnation as wising up

Andrew Smithers says: A major cause of low investment is the incentives created by the bonus culture — the practice (now almost ubiquitous in quoted companies) of paying executives huge bonuses to reward short-term success. I agree that many bosses...

Trade Deficit declined in April to $40.9 Billion

The Department of Commerce reported:The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $40.9 billion in April, down $9.7 billion from $50.6 billion in March, revised. Show More Summary

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