Inflation rates have come down since their peak in mid-2022. Does the Federal Reserve need to continue its inflation-fighting ways, keeping interest rates high? Anil Ari, Carlos Mulas-Granados, Victor Mylonas, Lev Ratnovski, and WeiZhao of the IMF look to historical and international experience in “One Hundred Inflation Shocks: Seven Stylized Facts” (September 2023, WP/23/190). As…
Appointed by new Labour PM Jacinda Ardern in 2018, Cindy Kiro headed the Welfare Expert Advisory Group (WEAG) tasked with reviewing and recommending reforms to the welfare system. Kiro had been Children’s Commissioner during Helen Clark’s Labour government but returned to academia subsequently. In 2019 the WEAG reported back with 42 recommendations including:Recommendation 11: Remove…
It doesn’t seem to have been the best week for the Reserve Bank since the release of the latest Monetary Policy Statement last Wednesday. Of course, one could make a pretty compelling case that in the Orr years few weeks have been, and especially not any weeks when Bank figures actually say or do anything. […]
Many of the comments about the Coalition’s determination to wind back the dramatic Maorification of New Zealand of the last three years would have you believe the new government is engaged in a full-scale attack on Maori. In reality, all that is really happening is that ministers are stopping the crusade waged by the Ardern/Hipkins…
Much of Seoul is a sea of high-rises. And not just Seoul: Busan and other cities in South Korea have lots of high rises. More than half of all South Korean households live in high rises, and well over 60 percent live in some kind of multifamily housing. Seoul: High … Continue reading →
You can read Chuck Schumer’s recent op-ed in the NYT, “What American Jews fear most,“, or you can watch his 40-minute speech on the topic given in the Senate (video below). I recommend listening to the speech, of which the op-ed is a short distillation. Alternatively, read the transcript, which you can find here. Schumer […]
The per capita GDP for the combined 27 countries of the European Union (EU-27) is about 72% of the US level. On the other side, the average worker in EU countries puts in far fewer hours on the job than do American workers. For example, OECD data says that the average US worker put in…
The transition to electric vehicles is hardly going to plan: sales have collapsed in the US, EV manufacturers are bleeding cash and insurers are cranking up premiums to account for an uptick in the number of unscheduled battery blowups – aka ‘thermal runaways’. The vehicle doesn’t go anywhere, it simply self-immolates in a plume of […]
Tax rates matter for work incentives. When tax rates are high, there is less incentive for people to work. They may pass up additional work and choose leisure time instead. However, it isn’t just taxes that matter. It is the loss of other entitlements as well. All of these are bound up in what is…
Several good friends warned me not to publish Don’t Be a Feminist. I appreciate their concern, but I’m glad I kept my own counsel. Here’s my interview with Chris Williamson on the book and beyond. Apparently he’s kind of a big deal…
Why Evolution is True is a blog written by Jerry Coyne, centered on evolution and biology but also dealing with diverse topics like politics, culture, and cats.
In Hume’s spirit, I will attempt to serve as an ambassador from my world of economics, and help in “finding topics of conversation fit for the entertainment of rational creatures.”
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