Thursday, June 29, 2017

Wrap Up for June 2017

Since Congress sets the basic parameters of monetary policy, what goals should the Fed be trying to achieve? And what tools are appropriate? Scott Sumner and Patrick Horan for U.S. News

Recommended by David Beckworth, this paper from David Schleicher also takes legal issues into account which impact economic mobility: "Stuck! The Law and Economics of Residential Stability"

Is it possible to use the word "and" too many times in one's paper? This post from Tim Harford, explaining why he could relate to Paul Romer's frustration re excess complexity, made me smile.

"Reducing the supply of reserves while doing nothing to reduce banks' demand for them is a recipe for demand driven deflation..." (George Selgin)

Why jails are booming:

"...the race for a better understanding of what drives the income distribution is just getting started..."

Why does the Fed still believe that low unemployment is contributing to inflation, especially given the lack of evidence? (Marcus Nunes)

A conversation with Timothy Taylor

If it's free, there's important reasons it's not being measured.

Larry Summers has his own concerns about the Fed.
Has Summers become a market monetarist? Scott Sumner takes a closer look.

If only occupational licensing were "good politics"!

The oil glut has not been advantageous for OPEC.

"Oil will increasingly have to compete for customers"

From Ed Luce, in a Q &A with James Pethokoukis:
"What we need is talk about what would happen if there were a big investment program, an intelligent large scale one - with the private sector involved as partners - in the skills, lifetime skills not just one-off hits, the continuous learning skills of people in the middle class and beyond. And that's actually not such a hard thing to imagine."

"Officials will not take their rate hike plans and go quietly into the night, even in the face of low inflation." (Tim Duy)

"In-Work Poverty in the United States"

"Nursing homes account for 42 percent of all Medicaid spending, even though only 6 percent of Medicaid enrollees use them. 64 percent of Americans in nursing homes depend on Medicaid."

A speech from Ben Bernanke: "When Growth is Not Enough"

Nick Rowe responds to a recent post from Miles Kimball.

"A better monetary policy wouldn't set any inflation target."

Scott Sumner provides a summary of his views on monetary economics.

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