Determining the Value of Money: Next Steps for the Fiscal Theory of the Price Level
29 Mar 2020 Leave a comment
in budget deficits, business cycles, economic history, financial economics, fiscal policy, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics, Robert E. Lucas Tags: monetary policy
wage cuts are so common that they throw efficient contracting theory into doubt
28 Mar 2020 Leave a comment
in industrial organisation, job search and matching, labour economics, labour supply
From https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.33.3.185
Employees are more likely to accept cuts in hours than cuts in wages per hour because a reduction in hours reduces output and profits for the employer too and therefore is less likely to be opportunistic.
hours worked by US hourly employees down over 50%; hourly workers are 60 percent of workforce #COVID19
28 Mar 2020 Leave a comment
in health economics, labour supply, macroeconomics
https://datawrapper.dwcdn.net/LPg4v/2/ Via http://gregmankiw.blogspot.com/2020/03/daily-data-on-hours-worked.html
Source: Homebase at https://docs.google.com/spreadsheets/d/e/2PACX-1vTf0Ce37p3B0Qy-5BZPh1p9-WwEekPOxVdpMsumy6JFeCIt9EO6ZxbGNpnNxjdf9Mr9USeIMqjq9YU0/pubhtml#
Fama: Stimulus plans only enhance future incomes when they move current resources from less productive private uses to more productive government uses
28 Mar 2020 1 Comment
in budget deficits, fiscal policy, macroeconomics
When was the Sick Man of Europe on a 3-day week for 10 weeks? #COVID19
27 Mar 2020 Leave a comment
in business cycles, economic history, labour supply, macroeconomics, unions
Monetary Policy Arithmetic by Joydeep Bhattacharya and Joseph H. Haslag
27 Mar 2020 Leave a comment
in financial economics, fiscal policy, macroeconomics, monetary economics, public economics
Eugene Fama on a fiscal stimulus and bailouts
27 Mar 2020 Leave a comment
in business cycles, fiscal policy, macroeconomics
The economic impact of Britain’s three-day week from 1 January to 11 March 1974 #COVID19
27 Mar 2020 Leave a comment
in economic growth, economic history, health economics, labour supply, macroeconomics, unions
Lee Ohanian on Japan’s Lost Decade
27 Mar 2020 6 Comments
in business cycles, econometerics, economic growth, economic history, Edward Prescott, fiscal policy, labour supply, macroeconomics, monetary economics
Lee Ohanian on dynamic general equilibrium models to study the Great Depression
26 Mar 2020 Leave a comment
in business cycles, econometerics, economic growth, economic history, financial economics, great depression, history of economic thought, macroeconomics, monetary economics
Utopia, you are standing in it! 
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