Thursday, February 28, 2019

Wrap Up for February 2019

How would the great economists respond to the economic problems of our time? James Pethokoukis has a Q & A with Linda Yueh.

Some forms of multitasking are actually quite beneficial. And perhaps we've gotten too worked up over fake news. (Tim Harford)

Why don't people believe in tech as a potential housing solution?

Millennial migration patterns are different from senior migration patterns.

" matters a lot that US productivity growth slowed down back around 2005 even before the start of the Great Recession, and that we don't really understand why."

Information which is already in the process of expiring, is what is most often marketed to us. "This is why it's commonly telling you what happened, not why it happened or under what conditions it might happen again."

Remembering Harold Demsetz
"...the definition of property rights will tend to create situations where individuals internalise the effects of their actions, and to minimise the extent to which individuals' actions create externalities. An implication of this is that changes in the economic environment are likely to lead to changes in the definition of property rights; however it is likely to take time for individuals to figure out exactly how the latter should change."
Plus, "Toward a Theory of Property Rights"

Which industries have had manufacturing gains? also, "Where are manufacturing jobs coming back?"

2018 was a good year for YIMBY movements.

How have incomes around the world changed over time?

Dani Rodrik is concerned about the "good jobs" challenge. But ultimately, we may need to transform excessive hopes for "good jobs" into better systems of mutual support for meaningful work, alongside local settings more responsive to a broad range of income diversity.

Homeless children were invited to take part in the design of a school created especially for them.

Once again, Dietrich Vollrath takes a closer look at institutions.

Noah Smith has concerns regarding the Green New Deal. And wage stagnation as well.

This is no time for the European elite to continue contractionary monetary policy.

"If Not Now, When? New Estimates of the Federal Budget Outlook"

"...the increasing share of prime loans has partially offset the deteriorating performance of the subprime sector."

Alas, the medieval guilds of the past still have economic relevance.

Low skill workers face the biggest challenges.

Finland tries a new approach to homelessness.

"Two hundred years of health and medical care"

It turns out that small groups of researchers do more innovative work than large groups.

"...spending cuts have much smaller costs in terms of output losses than tax increases."

Tyler Cowen blegs for ideas and examples re writing incentives for third and fourth graders.

Is Neo-Fisherism "nuts", or does it make sense?

Even though the quantity theory of money holds in the long run, "it's dangerous to engage in money supply targeting".

"...there's actually a negative correlation between changes in bank reserves and any other kind of macro number like credit or GDP."

Good news of the month: Supreme Court strikes a blow against excessive use of state forfeitures.

Not everyone in the Democratic party has shifted further to the left.

Taxing the rich more is not going to solve the debt problem.

Diane Coyle reviews Sorting Things Outand also highlights one of her recent lectures which emphasizes how we see and take seriously what we are actually able to count.

The treatment of net exports in economics texts tends to be confusing.

Some historical perspective "on the evolution of the U.S. federal debt over time".

This job mismatch chart between cities and job seekers, speaks volumes re income segregation.
Another possible reason for increasing separation among income groups, is that cities now provide fewer mid level skill jobs for individuals without college degrees.

The Fed would also benefit, if they provided better explanations for the public re what they wish to accomplish.

Why did the classics dominate formal education? And why was the teaching of writing ultimately assigned to English professors?

"Instead of producer-interest capitalism, we need a consumer-interest alternative."

" boomers are aging alone more than any other generation in US history."

How does the country of Bhutan actually measure Gross National Happiness?

Raghuram Rajan for Project Syndicate: Important aspects of market structure in the U.S. and European countries are starting to break down. Instead of populism extremes, governments could instead make it easier for people to devise their own solutions.
Also, a video of his recent Brookings public event discussing his new book, and an excerpt for ProMarket.

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