"Estimating Unequal Gains Across U.S. Consumers With Supplier Trade Data"
Zombie firms create problems for productivity.
James Pethokoukis for The Week, in "Death of the Debt Hawks":
Trump won the Republican primary and then the general election by disavowing GOP positions on spending and debt. That is a powerful real-world lesson for current politicians and future candidates.David Wessel welcomes Janet Yellen to Brookings.
Will we survive elitism?
"The Economic Implications of Housing Supply"
Intangible capital is changing the nature of traditional banking.
Adam Ozimek muses on the stages of Trump acceptance:
"...about two-thirds of global investments is financed by firms themselves."
Even though some may not give much thought to the loss of international students, this is lost revenue for higher education - in particular smaller and less prestigious universities.
While I'm no longer an advocate of the use of wood for many building purposes (old homes in need of maintenance can be quite a headache in one's later years), an improved method for compressing wood may contribute to its strength and stability.
From the abstract:
The within-industry dispersion of TFP and output per worker has risen, while the marginal responsiveness of employment to business-level productivity has weakened.David Andolfatto debates fiscal theories of the price level.
Matthew Kahn describes his new "limits to growth" class for non-economists as "a fair fight between Paul Ehrlich and Julian Simon".
The timing of this "piggy bank" raid was also noteworthy...
"...if we are all going to return to a happiness set-point after a period, why bother with policies trying to increase happiness?"
Their preferred explanation is that the economy has "returned to normal", however I do not feel the present structural circumstance are a normal that can be maintained. What's more, the Fed played a role in the downward shift of growth capacity that they did not openly acknowledge: http://ngdp-advisers.com/2018/02/15/just-one-things/
Gallup notes a significant decline in well being.
"...the question of how networks work in reality isn't a simple one."
"The US rate of homeownership was about average by international standards 20-25 years ago, but now is below the average."
Angela Rachidi discusses "the state of the safety net".
Ed Dolan also addresses potential safety net reforms.
What determines value capture and value creation?
Some economist opinions on the "mismeasure of output".
Geography affects basic needs.
Intangible capital as the "most important firm-level determinant of corporate cash holdings".
Given the backlash against mental health considerations re school shootings, it's good to see a public poll that backs those concerns.
Scott Alexander reviews pieces of the unemployment puzzle.
Inequality is not a simple matter of technological progress.
Government safety nets are no longer intended for recessionary shocks.
"71 percent of young Americans between 17 and 24 are ineligible to serve in the United States military."
The Fed needs to commit to stabilizing the long-run growth rate of spending.
"The truth is that poor Fed policy has contributed to the weakness of the expansion. But the Fed has erred by keeping money too tight, not too loose."
A review of factors re the decline in the employment to population ratio
The current healthcare system is a source of social tension between the working middle class and the poor.
A comparison of Japan's Lost Decade with the Great Recession in the U.S.
One's ability to recite facts - for instance - isn't well suited to competition with AI.
This supposed "consensus" that "Financial Plumbing most to blame for 2008 crisis" not only makes it difficult to remember the unfortunate monetary withdrawal on the part of the Fed (that was never completely remedied), but also the structural real economy factors that play a large role in macroeconomic effects.
One of my bigger concerns re an "excessive U.S. focus", is that a wide range of infrastructure options discussed in other countries, don't gain the full audience they deserve.
How does income inequality affect aggregate output?
Even though this rationale may sound odd to the ear: "building capital needs a shorter life", temporary building components that can be assembled and reassembled, would allow much needed societal flexibility and reduction of capital risk. And as Matthew Kahn stressed in his blog post, it would also allow building and infrastructure design to remain up to date.
The divisions between rural and urban life can literally separate families (China)
Does Jerome Powell believe the economy is "overheating"?
A graph which highlights the costs of economic access (housing and transportation)
Sometimes a crisis can happen in good times as well.
A former med student voices his concerns to Bryan Caplan re medical education.
"Starting with the 1980s, each decade has had a lower average than the previous decade."