Source: Edward Prescott
US post-war economic booms compared
22 Feb 2015 Leave a comment
in business cycles, economic growth, economic history, macroeconomics, politics - USA Tags: Edward Prescott
Source: Edward Prescott
Robert Lucas on Social Security entitlement reform
20 Feb 2015 Leave a comment
in applied welfare economics, politics - New Zealand, politics - USA, Robert E. Lucas Tags: ageing society, entitlement reform, Social Security reform
The share market speaks on Grexit: banknote printer shares soar
20 Feb 2015 Leave a comment
in currency unions, macroeconomics, monetary economics Tags: event studies, Greece
@DanHannanMEP Seems you're not alone, judging from the DeLaRue share price… #newdrachmasplease http://t.co/rrQgr6EtSu—
James v B (@CausticCorner) February 19, 2015
Super-Economy: The Economic Performance of Europe and the United States
19 Feb 2015 Leave a comment
in economic growth, economic history, macroeconomics Tags: Eurosclerosis
Where the €227B loans to Greece since 2010 have gone
18 Feb 2015 Leave a comment
in currency unions, Euro crisis, global financial crisis (GFC), macroeconomics Tags: Greece, sovereign default
Cigarette smuggling in the United States on a state-by-state basis
18 Feb 2015 Leave a comment
in applied price theory, applied welfare economics, economics of crime, law and economics, macroeconomics, politics - Australia, politics - New Zealand, public economics, taxation Tags: smuggling, tax avoidance, tobacco regulation, tobacco taxation
College graduates have a much higher opinion of themselves than do the recruiting employers
18 Feb 2015 Leave a comment
in economics of education, human capital, job search and matching, labour economics, labour supply, personnel economics Tags: job market signaling, recruitment standards
Italy is Europe’s ticking time bomb
15 Feb 2015 Leave a comment
The Affordable Care Act and the Labor Market
15 Feb 2015 Leave a comment
in fiscal policy, great recession, labour economics, labour supply, macroeconomics Tags: Casey Mulligan, Obamacare, taxation and the labour supply
What happens when you play “chicken” with a game theorist (The Greek Finance Minister)?
14 Feb 2015 Leave a comment
in currency unions, Euro crisis, international economics Tags: game theory, Greece, Greek default, optimal currency areas, sovereign default
Luke Froeb suggests:
However, opting for forgiveness risks creating dangerous incentives for other countries to act in the same way as Athens. “Germany may decide that if the eurozone does not punish Greece, it will have problems with other countries such as Spain and Italy,” says Roger Myerson, a Nobel-winning economist at the University of Chicago.
Mr Varoufakis should therefore try to convince Germany that Athens’ situation is unique and that other eurozone countries will not seek debt relief as a result, he says. In doing so, he would follow the illustrious precedent of the citizens of Melos, to whom Athens, during the Peloponnesian war between Athens and Sparta, gave the choice of surrendering or facing annihilation.
“The Melians sought to argue that they were different and that sparing them would not set a dangerous precedent vis-à-vis other islands,” says Mr Myerson.
The problem with this strategy, however, is that the other player may choose to build a reputation for toughness. This is what Athens opted for — it laid siege to the island and starved the inhabitants into submission.
via Managerial Econ: What happens when you play “chicken” with a game theorist? and Greek Game Theory: Default, Devaluation, Deliverance?..
Utopia, you are standing in it! 
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