William Kerr, 17 May 2013 Do economies
The Wall Street Journal reports Emissions trading in Europe in Tatters. The European Union's flagship program to fight global warming—a regional carbon-emissions trading system—suffered a major blow Tuesday when legislators rejectedShow More Summary
Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for several selected cities in April. Look at the two columns in the table for Total "Distressed" Share. In every area that has reported...Show More Summary
"If we were in a car, you might say we’re motoring along, but well under the speed limit." -- San Francisco Fed's Williams
In his valedictory speech as the head of one of the most respected economic think tanks in the world, Fred Bergsten issued a clarion call about "a clear and present danger" that continuing "currency wars" represent to the U.S. economy, global trade and the international monetary system.
Another from Tim Duy: Lumping Everything into the Wealth Effect, by Tim Duy: After posting my review of Martin Feldstein's WSJ op-ed, I waded through Dallas Federal Reserve President Richard Fisher's latest speech and found this: The former outcome is...
(May 16, 2013 04:23 PM, by Art Carden) Here's a quick update to yesterday's post on what I've been reading lately. I had to give to exams this morning, so that gave me plenty of time to read. If you're looking for something to take to the beach... (0 COMMENTS)
This is from Sultan Mehmood. The article appears in the May edition of Defense and Peace Economics, which the author describes as "a highly specialized journal on conflict": Terrorism and the Macroeconomy: Evidence from Pakistan, by Sultan Mehmood, Journal of...
photo from "Engendering Economics" by Zohreh Emami and Paulette Olson Marianne Ferber was proud to have been a Canadian economist, if only for a little while. The "Canadian" part was due to astute planning by her father, Karl Abeles. Marianne...
I have had several responses to my offer to post write-ups of new research that I'll be posting over the next few days (thanks!), but I thought I'd start with a forthcoming paper from a former graduate student here at...
The leader of the Federal Reserve Bank of San Francisco is open to cutting the central bank's bond-buying program at some point over the next few months, provided the economy continues to grow.
A few comments: • Overall the housing starts report was a little disappointing. Even just looking at single family starts (removing the volatile multi-family sector), starts were down 2.1% from March. However single family starts were...Show More Summary
As inflation threatens to melt away entirely, consumers keep paying more for one big-ticket item: housing.
Michael Kinsley tries to take on Paul Krugman, but ends up showing he really doesn't know what he is talking about. For details, see: Seven Howlers from Michael Kinsley's Very Misguided War Against Paul Krugman - Brad DeLong The worst...
Even though inflation measures have fallen sharply in recent months, Fed officials aren’t ringing alarm bells about it as they have done in the past. One possible reason for their relative calm: Quirks in economic data.
The latest data from Eurostat shows that fewer than half of the eurozone’s economies are now growing. Real GDP in the EZ as a whole was 0.4 percent lower in the first quarter of 2013 than a year earlier. The worst news came from the bloc’s biggest economies: Germany’s growth fell from 0.7 percent Y-o-Y in 2012 to 0.4 percent in Q1 2013. Show More Summary
Several Fed officials agreed that the government's troubled financial situation was hurting the economy, although finding that common ground did not lead them to concur on the best way forward for monetary policy.
The Philly Fed Business Outlook Survey shows regional activity weakened with current indicators negative. The Six-Month Outlook brightened in what I believe is rampant over-optimism. "The current activity index has shown no pattern of...Show More Summary
In a blogpost taking stock of the IMF conference on lessons from the crisis, the Nobel laureate distills the lessons learned. He makes the following observations: Not only are financial recessions deeper and slower in recovery than in normal recessions. Show More Summary
Jaime Caruana, general manager of the Bank for International Settlements, warned in an unusually frank speech that, while the ultra-low interest rates and ultra-easy monetary policy adopted by advanced economy central banks might have been the right response to the crisis when it broke, they are looking increasingly dangerous the longer they last.