We looked at a paper Hoshi & ItoNote that argues Japan’s budget deficits are not sustainable, indeed that without adjustment bond issues will exceed total…
Author: Mike
Prof of Economics, Wms School of Commerce, Washington and Lee University, Lexington VA
The National Transfer Accounts project is spearheaded by Ronald Lee and Andrew Mason. It has compiled data on income and consumption by age, as well…
Try to build a simple Excel simulation of our growth model, streamlined. We can embed it in a full production function, but just use the…
We frequently see claims that a lower tax rate – particularly of corporate or personal income taxes – will work miracles. That is seldom the…
Arbitrage. With perfect foresight and no risk premium the return one-year bond should be equal to the interest rate on a six-month bond bought today,…
TuTh 11:50am-1:15pm Early-Fielding 200 under construction (duh!)
“Long” Treasuries yield a scant 2.6% over 30 years. Basic theory suggests this should should equal expected growth rate plus inflation. If a rise in…
Clements, Benedict, Kamil Dybczak, Victor Gaspar, Sanjeev Gupta, and Mauricio Soto. 2015. “The Fiscal Consequences of Shrinking Populations.” SDN/15/21. International Monetary Fund. What is “fiscal…
We will continue our discussion of intergenerational transfers and overlapping generations issues. To make it concrete, we’ll look at the US Social Security programs. FAQs:…
As a followup to our class conversation on summer jobs on Friday, here’s a link to an item on “What happened to summer jobs?” on…
I post expanded notes from my weekly radio show at Autos and Economics on blogspot.com. This week I was asked to comment on Trump’s tax…
Will commenting now work on new posts, given changes made by Helen of ITS? I still apparently have to enable comments in old posts by…
These should now appear correctly using the tabs at the top. I initially failed to shift the menu location of this term’s syllabus so it…
I do a weekly radio segment on the economy on WREL, the local radio station. Here are my notes from the Aug 20th show. These…
I will add a schedule and syllabus in late August. This iteration will incorporate many changes, but you can look at the Winter 2015 Archive…
As yet more snow falls, we’re reminded … that it’s the start of spring? While this year is colder than any I remember, though not…
There are 20,000 members of the American Economic Association, the profession’s premier professional association. There are many PhD economists in the US who are not…
Learn about the global macro outlook … the IMF publishes in English, too. Click to download.
Select blogs from this morning, one way to look for ideas: ponder the macro issues each raises. Remember the resources are at the left: EconPapers,…
Here are 4 graphs that give an overview of inflation from the perspective of both producers and consumers. Data are percent change from the same month of the previous year.
On the left is the overall movement, on the right data that excludes food and energy. In other words, if we ignore the recent drop in commodity prices, which is a one-time event rather than a trend, what does inflation look like?
Click on the graphs to enlarge them.