Demand shocks as technology shocks: We provide a macroeconomic theory where demand for goods has a productive role. A search friction prevents perfect matching between producers and potential customers. Larger demand induces more search, which in turn increases GDP and measured TFP. We embed the product-market friction in a standard neoclassical model and estimate it […]
This kind of macro theory is underrated
This kind of macro theory is underrated
01 Mar 2024 Leave a comment
in applied price theory, business cycles, fiscal policy, history of economic thought, job search and matching, macroeconomics, monetary economics Tags: real business cycle theory
A Moment of Truth: Five Questions for Hunter Biden
01 Mar 2024 Leave a comment
in economics of crime, law and economics, politics - USA Tags: 2024 presidential election
Below is my column in the New York Post on the closed door deposition of Hunter Biden. After years of conflicting and evasive responses on these corruption allegations, Hunter Biden is now faced with a moment of truth.
A Moment of Truth: Five Questions for Hunter Biden
“Craven” and “Insurrectionists”: MSNBC’s Rachel Maddow and Other Denounce the Supreme Court for Granting Review of Presidential Immunity
29 Feb 2024 Leave a comment
in economics of crime, law and economics, politics - USA Tags: 2024 presidential election
Yesterday, the Supreme Court granted review of the presidential immunity question, but set an expedited schedule for the review of the question with oral argument scheduled for April. Former president Donald Trump wrote on Truth Social that “Legal Scholars are extremely thankful for the Supreme Court’s Decision today to take up Presidential Immunity.” As I […]
“Craven” and “Insurrectionists”: MSNBC’s Rachel Maddow and Other Denounce the Supreme Court for Granting Review of Presidential Immunity
Three Snapshots of Where US Population is Headed
29 Feb 2024 Leave a comment
in economic history, environmental economics, labour economics, labour supply, population economics Tags: ageing society, economics of fertility, economics of immigration, population bust
The Congressional Budget Office has published The Demographic Outlook: 2024 to 2054 (January 2024), which offers some recent history and projections of how the US population is evolving. Here are three snapshots: The Role of Immigration in Total US Population Growth The black line shows projected US population growth since 2004, with firm data up…
Three Snapshots of Where US Population is Headed
The Economics of Creative Destruction, Part II
29 Feb 2024 Leave a comment
in applied price theory, comparative institutional analysis, economic history, industrial organisation, survivor principle Tags: creative destruction
I’ve referred to “creative destruction” as the “best and worst part of capitalism.” This short video from the Fraser Institute is a good tutorial on the topic. The core message is that entrepreneurs improve our lives by coming up with new ideas, new technologies, and new products. That’s the good news. The bad news is […]
The Economics of Creative Destruction, Part II
The UK is much closer to blackouts than anyone dares to admit
29 Feb 2024 Leave a comment
in energy economics, environmental economics, global warming Tags: British politics
From NOT A LOT OF PEOPLE KNOW THAT By Paul Homewood h/t Philip Bratby Of all the problems with electric cars, perhaps the least expected was the revelation that some home charging points provide a potential point of weakness for malign foreign powers to interfere with our National Grid. Last week, the Office for Product Safety […]
The UK is much closer to blackouts than anyone dares to admit
Jobava London System: White creates a SIMPLE ATTACKING MACHINE!
29 Feb 2024 Leave a comment
in chess
Utopia, you are standing in it! 
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