Edward Prescott on the #GFC
24 Mar 2020 Leave a comment
in budget deficits, business cycles, economic growth, Edward Prescott, fiscal policy, global financial crisis (GFC), great recession, labour economics, labour supply, macroeconomics, public economics Tags: real business cycle theory, taxation and entrepreneurship, taxation and investment, taxation and labour supply
The dangers of inaccurate statistics
24 Mar 2020 Leave a comment
in business cycles, econometerics, economic history, great depression, job search and matching, labour economics, labour supply, monetary economics, unemployment
What is new and true in efficiency wage theory?
24 Mar 2020 Leave a comment
in applied price theory, history of economic thought, labour economics, labour supply, occupational choice, personnel economics
From Y. Weiss et al. (eds.), Advances in the Theory and Measurement of Unemployment
Another reversing gender gap
21 Mar 2020 Leave a comment
in discrimination, economics of education, gender, health and safety, human capital, labour economics, labour supply, occupational choice Tags: reversing gender gap
Ellen McGrattan in real business cycle models
21 Mar 2020 Leave a comment
in budget deficits, business cycles, economic growth, Edward Prescott, fiscal policy, history of economic thought, labour economics, labour supply, macroeconomics, monetary economics Tags: real business cycle theory
Ireland’s worst bank strike lasted 6-months
20 Mar 2020 Leave a comment
in economic history, financial economics, labour economics, labour supply, macroeconomics, monetary economics, unions Tags: economics of banking, union power
Stephen Pinker on gender equity
20 Mar 2020 Leave a comment
in discrimination, economics of education, gender, health and safety, human capital, labour economics, labour supply, law and economics, occupational choice Tags: gender wage gap, offsetting behaviour, political correctness, regressive left, The fatal conceit, unintended consequences
How was the war on poverty going?
20 Mar 2020 Leave a comment
in economic history, income redistribution, labour economics, politics - USA, poverty and inequality
the Full-income Poverty Measure estimates the share of people in poverty using a post-tax, (comprehensive or full) post-transfer definition of income. Similar to the Official Poverty Measure, it includes market income (wages and salaries, self-employment and business income, farm income, retirement income from pensions, dividends, interest, rent and alimony) and cash transfers (Aid to Families with Dependent Children/Temporary Assistance for Needy Families, Social Security and workers’ compensation). It then adds the market value of health and non-health in-kind transfers (food stamps/SNAP, subsidized school lunches, rental housing assistance, and Medicare and Medicaid) as well as the market value of employer-provided health insurance. It subtracts Federal income and payroll taxes but adds tax credits including the Earned Income Tax Credit, Child Tax Credit, and Additional Child Tax Credit (the refundable portion of the CTC) based on estimated tax liabilities using NBER Taxsim 9.3 (Feenberg and Coutts 1993). We impute several of these income sources in the early years of our analysis because they were not collected in the CPS-ASEC.
From https://www.iza.org/publications/dp/12855/evaluating-the-success-of-president-johnsons-war-on-poverty-revisiting-the-historical-record-using-a-full-income-poverty-measure via http://conversableeconomist.blogspot.com/2020/03/us-poverty-over-time-how-to-compare.html
Plosser on money and business cycles
20 Mar 2020 Leave a comment
in business cycles, econometerics, economic history, financial economics, great depression, industrial organisation, labour economics, labour supply, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: Keynesian macroeconomics, real business cycle theory
.@Bryan_Caplan’s best presentation of the case against education
18 Mar 2020 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economics of education, economics of information, history of economic thought, human capital, income redistribution, industrial organisation, labour economics, labour supply, managerial economics, occupational choice, organisational economics, personnel economics, Public Choice, public economics, rentseeking, survivor principle Tags: adverse selection, asymmetric information, College premium, graduate premium, screening, self-selection, signaling
Utopia, you are standing in it! 
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