Patented pharmaceuticals diffuse across international borders slowly, and sometimes not at all. This column analyses the effect of patent protection and price regulation on the speed of and extent to which drugs enter new markets. There...Show More Summary
Cheap-money stimulus has stocks setting records daily, but evidence mounts that things have come too far, too fast
China's surprise rate cut and the ECB's talk of more stimulus added fuel to Wall Street's string of record-breakers
The last month has been a challenging time for St. Louis Fed President James Bullard.
The automakers will report November vehicle sales on Tuesday, December 2nd. Sales in October were at 16.35 million on a seasonally adjusted annual rate basis (SAAR), and it appears sales in November might be at or above 17 million SAAR.Note:...Show More Summary
Noah Smith:... Why is it that the sciences look like a feminist nirvana compared with the economics profession, which seems to have a built-in bias that prevents women from advancing?... More here.
Low Gini, bad slump.
If Congress wants the president to pick the New York Fed chief, that’s just fine with William Dudley. “It's the province of the Congress to decide how the Federal Reserve Act is written and how the president of the Federal Reserve Bank in New York and other Federal Reserve presidents are selected,” Mr. Dudley told Sen. Jack Reed (D., R.I.) during a heated hearing Friday.
In the U.S., financial markets, government agencies and most businesses will close next Thursday to observe the Thanksgiving holiday. Before Americans go off to a day of thanks, turkey and football, the shortened workweek will bring a long list of economic reports. Here are five items to watch:
A study by the American Farm Bureau pegged the national average cost of a Thanksgiving feast at $49.41 for 2014
The Ram truck, at 25 mpg on the highway, is the current leader among pickups, but Ford says its truck can do better than that
In response to Spain Needs to Debate Leaving the Euro; Tooth Fairy Economics I received a nice email from Michael Pettis confirming my translation was correct. He also attached the original article in English.Michael Writes...Thank's Mish. Show More Summary
A Senate hearing this week raised the question of whether the Fed has fully addressed its alleged shortcomings as a regulator of big banks. Here are five things to know.
This week's EconTalk episode with Vernon Smith helped me understand something that has been bothering me for a long time. Economics students are taught that human beings are maximizers--we want more rather than less of the things that give us pleasure. Show More Summary
Today's Water Cooler: Mexico protests, Ferguson grand jury machinations, looting Whole Foods, and rape culture at the University of Virginia
Alice Rivlin: People Who Wanted Market-Driven Health Care Now Have it in the Affordable Care Act, by Alice M. Rivlin, Brookings:... The United States... relied primarily on employer-based health insurance, generously favored by tax laws.... But there...
The Department of Transportation (DOT) reported:Travel on all roads and streets changed by 2.3% (5.6 billion vehicle miles) for September 2014 as compared with September 2013.Travel for the month is estimated to be 246.6 billion vehicle...Show More Summary
CHINA has cut interest rates for the first time in more than two years, a powerful signal that the government want to step up support for the slowing economy. As fate should have it, a rate cut was the very thing we had called for in our leader on Chinese monetary policy this week. Show More Summary
Research shows that many commonly held beliefs about millennials and their money just aren't true
When the financial crisis hit in 2008, many people feared that countries would respond as they had during the Great Depression and restrict imports. And as shown in the chart below, trade plunged even more deeply than economic output, but then it rebounded just as quickly. Show More Summary