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Escape from Punchbowlism
This post was written by StatsGuy, a regular commenter here and very occasional guest contributor. We asked him to expand on the ideas he put forward in this comment on the relationships between...
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Imbalances, Schmalances
We’ve been at first amused but more recently alarmed at how “global imbalances” are becoming many people’s preferred explanation of the financial crisis. At first you could brush it off this way:...
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Cognitive Dissonance and Global Macroeconomics
One of our readers not only suggested this post, but even sent me all the links; I’m just now getting around to writing it up. Thanks. There has been a lot of talk about global imbalances, with most...
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Productivity and Layoffs
One reason I like reading Brad DeLong is that he’s never afraid to admit a mistake — even when it isn’t technically a mistake, just a question of interpretation. Here is his comment on productivity...
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Things That Don’t Make Sense, Yuan Edition
“World Bank Chief Economist Justin Yifu Lin staked out a strong position against forcing China to let its currency appreciate as a way to rebalance the world economy. “’Currency appreciation in China...
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Current Financial Conditions and Future Economic Activity
By James Kwak David Leonhardt (hat tip Brad DeLong) discusses the risk of a double-dip recession. For Leonhardt, the main risks are the pending expiration of the fiscal stimulus and some of the Fed’s...
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The Discount Rate Mismatch
. . . or, how finance is like quantum mechanics. This guest post is contributed by StatsGuy, an occasional commenter and contributor to this blog. Many pundits like to discuss the issue of Maturities...
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Good Government vs. Less Government
Or: Why the Heritage Freedom Index is a Damned Statistical Lie This guest post was contributed by StatsGuy, a frequent commenter and occasional guest on this blog. It shows how quickly the headline...
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Money as the Ultimate Giffen Good
This post is contributed by StatsGuy, an occasional guest contributor and commenter. Monday August 8 2011 witnessed a truly impressive financial spectacle—a natural experiment of the kind we see only...
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How Long Can We Finance the Debt?
By James Kwak Everyone should know by now that the Treasury Department can borrow money at historically low rates. That is a major reason why some very smart economists think that the federal...
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More Bad Excel
By James Kwak In 1975, Isaac Ehrlich published an empirical study purporting to show that the death penalty saved lives, since each execution deterred eight murders. The next year, Solicitor General...
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Are Reinhart and Rogoff Right Anyway?
By James Kwak One more thought: In their response, Reinhart and Rogoff make much of the fact that Herndon et al. end up with apparently similar results, at least to the medians reported in the original...
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Fatal Sensitivity
By James Kwak One more post on Reinhart-Rogoff, following one on Excel and one on interpretation of results. While the spreadsheet problems in Reinhart and Rogoff’s analysis are the most most obvious...
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Good Times for Capital
By James Kwak Last week, the Wall Street Journal highlighted a Federal Reserve report on total household net worth. Surprise! Americans are richer than ever before, both in nominal and real terms. At...
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Yay! We’re Almost as Rich as We Were in 1998!
By James Kwak There’s been a fair amount of triumphalism about the Census Bureau’s recent report on income and poverty, which showed a 5.2% increase in median real household income from 2014 to 2015....
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