Macroprudential follies and procyclical central bankers
18 Jun 2015 Leave a comment
A couple of days ago I came across an article from Bloomberg, which I think is very telling about everything which is wrong about the recent hype about macroprudential policies.
This is from Bloomberg:
When Katja Taipalus came home from school every day in the Finnish town of Jalasjaervi, she knew her working parents wouldn’t be there. Instead, her retired grandfather, who also lived in the large wooden house, played cards and other games with her. They even repaired a car.
Those discussions taught her to stay focused when she became an economist and her research hit a dead end, she says. The end result: an indicator that helps detect asset-price bubbles in equity and housing markets — as much as a year in advance.
“Asset prices have been one of the main components as financial crises have built up,” she said in the Bank of Finland’s historic teller…
View original post 1,255 more words
Salads poison more Americans than hamburgers
15 Jun 2015 Leave a comment
Salads poison more Americans than hamburgers. vox.com/2015/6/11/8766… http://t.co/XlsFbp5g16—
C. S. Prakash (@AgBioWorld) June 14, 2015
Essays in Honor of Joel Mokyr
13 Jun 2015 Leave a comment
| Peter Klein |
O&M friends Avner Greif, Lynne Kiesling, and John Nye have edited an important collection of essays by students, colleagues, and friends of the distinguished economic historian Joel Mokyr: Institutions, Innovation, and Industrialization: Essays in Economic History and Development (Princeton University Press, 2015). Dust-jacket blurb:
This book brings together a group of leading economic historians to examine how institutions, innovation, and industrialization have determined the development of nations. Presented in honor of Joel Mokyr — arguably the preeminent economic historian of his generation–these wide-ranging essays address a host of core economic questions. What are the origins of markets? How do governments shape our economic fortunes? What role has entrepreneurship played in the rise and success of capitalism? Tackling these and other issues, the book looks at coercion and exchange in the markets of twelfth-century China, sovereign debt in the age of Philip II of Spain, the regulation…
View original post 84 more words
Work-shy dole scroungers – so last century
11 Jun 2015 Leave a comment
Why so many on sickness and disability benefits?
The Resolution Foundation published two reports on work, poverty and benefits either side of the weekend. Last week’s An Ocean Apart contrasted the developments in employment and welfare in the UK and USA over the last 20 years. This week’s report on Universal Credit recommended a redesign of the in-work benefits system.
In his commentaries on both reports, Gavin Kelly points out that the political rhetoric on poverty and work is two decades out of date. As he says:
[T]he UK’s longstanding problem of workless families has been transformed since the late 1990s: once viewed as the biggest social ill facing the country, the rate of worklessness in households in which there are no disabled adults has plummeted.
There are big structural problems in the UK jobs market: low pay, low labour productivity, insecure work for the young, and next to no incentive to earn more for those on tax credits (or indeed Universal…
View original post 675 more words
Trends in what drives single motherhood
11 Jun 2015 Leave a comment
Divorce used to be biggest engine of single parenthood in America. No more. It's nonmarital childbearing cc@davidfrum http://t.co/J5yZtUukNW—
W Bradford Wilcox (@WilcoxNMP) June 10, 2015
Why no (top 1% driven) middle class wage stagnation in (non-unionised) technologically progressive industries?
11 Jun 2015 Leave a comment
.@CEAChair: Higher productivity needed for increases in income on.wsj.com/1E4jGDQ @MarkMuro1 Agreed. Proof here http://t.co/oZ76aeQdiq—
Jonathan T. Rothwell (@jtrothwell) March 11, 2015
Wages & productivity are growing together in high R&D-STEM industries brook.gs/1D5Pqxc @CEAChair @MarkMuro1 http://t.co/fe5MDomJqE—
Jonathan T. Rothwell (@jtrothwell) March 11, 2015
Divorces and marriages in Britain since 1900
10 Jun 2015 Leave a comment
Divorces and marriages in #Britain since 1900
(From: bit.ly/1v0QB8l ) http://t.co/pJHYtjPfWv—
Max Roser (@MaxCRoser) May 10, 2015
Niagara Falls frozen in 1911
09 Jun 2015 Leave a comment
Niagara Falls frozen in 1911 http://t.co/CNT2EddYdB—
History Pics (@HistoryPixs) January 22, 2014
Utopia, you are standing in it! 
Recent Comments