#COVID19 macroeconomics
22 Mar 2020 Leave a comment
in budget deficits, economic growth, fiscal policy, health economics, macroeconomics, monetary economics, Public Choice, public economics Tags: Keynesian macroeconomics, new classical macroeconomics, real business cycle theory
James Buchanan on economic advisors as establishment intellectuals
21 Mar 2020 Leave a comment
in applied welfare economics, constitutional political economy, economics of bureaucracy, economics of education, James Buchanan, Public Choice
From https://books.google.co.nz/books?id=92xzxQEACAAJ&pg=PA3&source=gbs_toc_r&cad=3#v=onepage&q&f=false
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
James Buchanan on highly undemocratic Arrow’s Impossibility Theorem
19 Mar 2020 Leave a comment
in applied welfare economics, constitutional political economy, history of economic thought, James Buchanan, Public Choice
From https://books.google.co.nz/books?id=92xzxQEACAAJ&pg=PA3&source=gbs_toc_r&cad=3#v=onepage&q&f=false
Density or Sprawl? How To Solve the Urban Housing Crisis
19 Mar 2020 Leave a comment
in economics of bureaucracy, economics of regulation, Public Choice, urban economics Tags: housing affordability, land supply
.@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
Hayek (1950) on why the current stimulus will fail
18 Mar 2020 Leave a comment
in Austrian economics, business cycles, economic history, economics of information, F.A. Hayek, fiscal policy, history of economic thought, labour economics, labour supply, macroeconomics, monetary economics, occupational choice, Public Choice, public economics Tags: fiscal policy, Keynesian macroeconomics
Milton Friedman never liked the IMF
18 Mar 2020 Leave a comment
in comparative institutional analysis, development economics, economic history, economics of bureaucracy, international economics, macroeconomics, Milton Friedman, monetary economics
Freedom of religion is right, not a new privilege to go your own way
18 Mar 2020 Leave a comment
in constitutional political economy, economics of religion, law and economics, Public Choice
Ponzi started out as an international arbitrageur in a time of hyperinflation
18 Mar 2020 Leave a comment
in economic history, economics of bureaucracy, economics of crime, financial economics
Utopia, you are standing in it! 
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