EconoMonitor

Economics Blog Aggregator

    Global Macro

  • Brad DeLong's Grasping Reality...

    WTF Are the Police on the Other Side of Missouri Doing?: Live from The Roasterie CCCXIV: August 22, 2014

    Mark Frauenfelder: Buttle/Tuttle mixup: Cops tell innocent woman she is dead, then throw her in jail "Shannon Renee McNeal... has filed a lawsuit against St Louis police and court personnel... ...after they falsely arrested her on felony drug possession charges that were meant for Shannon Raquel McNeal... 13 years younger. The booking officer at the jail acknowledged that Shannon Renee McNeal's fingerprints didn't match the wanted woman's (who, incidentally, had been dead for three months before the warrant was approved) but jailed her anyway, using the "not my problem" excuse. A county clerk also allegedly confirmed the officer’s mistake, but Shannon Renee McNeal was still transferred to the city’s department of corrections and assigned a caseworker. After...more

    Link ›

  • The Skeptical Speculator

    S&P 500 makes new record high amid positive US economic data

    The S&P 500 made a new record high on Thursday, rising 0.3 percent to 1,992.37. Positive US economic data on Thursday helped boost stocks. Existing home sales rose 2.4 percent in July, initial claims for state unemployment benefits fell 14,000 to 298,000 last week, Markit's preliminary US manufacturing PMI rose to 58.0 in August from 55.8 in July and the Conference Board's leading economic index increased 0.9 percent last month. There were also positive economic data from Japan on Thursday, where the preliminary reading of the Markit/JMMA manufacturing PMI showed a rise to 52.4 in August from 50.5 in July. However, in the euro area, Markit's composite PMI fell to 52.8 in August from 53.8 in July based on a preliminary reading, and the European Commission's consumer conf...more

    Link ›

  • John Quiggin

    Weekend reflections

    After a long break, it’s time for another weekend reflections, which makes space for longer than usual comments on any topic. Side discussions to sandpits, please.

    Link ›

  • John Quiggin

    Privatisation is not a magic pudding

    A few days ago, the Courier-Mail ran an editorial supporting privatisation. They were kind enough to run a reply from me, which I’ve reproduced over the fold. The headline picked up the point at the end about the choice between higher taxes and reduced services, which is relevant more general In a recent editorial, the Courier-Mail bemoans the fact that nearly thirty years after Paul Keating began the privatisation agenda, three in four Queenslanders are still opposed to the sale of public assets. In fact, the situation is more dire than that. Back in the 1980s when Keating ‘instinctively’ grasped the case for privatisation, opinion polls suggested that much of the public was receptive to the idea: publicly owned utilities were seen as slow and stodgy and did...more

    Link ›

  • The Big Picture

    SYRAQ

    Source: Business Insider

    Link ›

  • International Political Economy Zone

    Another Papal Accolade: Top Car Salesman

    This Kia Soul pitchman beats dancing hamsters hands down.You'd think that being "vicar of Christ" would be a heavy enough burden. To the list of many accolades accorded to the current leader of the Catholic church, however, add this one: "savior of Korean manufacturing." You see, Pope Francis recently visited South Korea after receiving an invitation to go there. Unlike the nominally godless North Korea, over a tenth of South Korea's population is composed of Catholics. It is just as well since Korea has been in need of divine intervention as of late given the economic headwind of a fast-appreciating currency. One of those negatively affected was Kia Motors, the country's second-largest automaker:Major companies announced financial results for the second quarter yester...more

    Link ›

  • VoxEU.org: Recent Articles

    Pricing and EZ membership: Evidence from Latvia

    Link ›

  • Brad DeLong's Grasping Reality...

    Jeb Bush Tells Michael Barbaro: "I'm Not Like My Brother": Live from The Roasterie CCCXIII: August 21, 2014

    This is, in my opinion, laying it on much too thick: both Michael Barbaro and whoever is flacking for Jeb Bush (why is a Connecticut-Maine Yankee named after a Confederate cavalry general who rounded up free Blacks in Pennsylvania and sent them south to be sold as slaves rather than scouting the location of the U.S. army before Gettysburg, anyway?) should be working harder... Michael Barbaro: Jeb Bush Gives Party Something to Think About: "As governor of Florida, Jeb Bush flew in Ivy League social scientists for daylong seminars... ...with his staff and carved out time for immersive brainstorming sessions he called “think weeks.” A voracious reader, he maintains a queue of 25 volumes on his Kindle (George Gilder’s “Knowledge and Power” among them, he said...more

    Link ›

  • The Big Picture

    10 Thursday PM Reads

    My afternoon train reads: • Shiller P/E Shows Confidence in Profit Outlook (Bloomberg) • The Legend of Jackson Hole (FT Alphaville) • O’Shaugnessy: The Power of Habit (Yahoo Finance) • Is the World Getting Riskier? (Chief Investment Officer) • Have Americans really fallen out of love with driving? (Fortune) • Why surveillance companies hate the iPhone (The Switch) • Todays WTF headline: Marijuana’s Buzzkill DNA: Biotech Researcher Finds Medical Pot Laced With Feces (Bloomberg) • Pakistan’s fight against feudalism (Al Jazeera) • In Ferguson, Washington Post Reporter Wesley Lowery Gives Account of His Arrest (Washington Post) see also Photos of the Protests in Ferguson (Slate) • Here Now, the 15 Most Expensive Homes for Sale in Brooklyn (...more

    Link ›

  • TIME » Time Sections » Business

    Here’s How Much Banks Have Paid Out Since the Financial Crisis

    Link ›

  • Cafe Hayek - Article Feed

    Minimum-Wage Minutia

    (Don Boudreaux) Three e-mail correspondents and a commenter have asked me to clarify a specific claim that I make in this post – namely, that it’s possible for a hike in the minimum wage to increase overall employment even while it decreases the employment of those workers it is ostensibly meant to help (namely, low-skilled workers). I do so below.  First, however, I want to express regret that I did not focus that post more appropriately.  My point there is that trends in overall employment cannot be used to test the economic argument against the minimum wage because that argument is that the minimum wage reduces the employment prospects only of low-skilled workers.  (I assume throughout what is empirically the case, at least in the U.S. – namely, ...more

    Link ›

  • Econbrowser

    UCSD graduate program in economics

    I saw an interesting statistic in the latest issue of Journal of Economic Perspectives. If you rank North American economics Ph.D. programs in terms of the publishing success of their median student in the first six years after graduating, UCSD comes in second. Number one? Seems to be Princeton. ...more

    Link ›

  • The Big Picture

    Get Ready for the Shanghai Composite Break Out

      China is on the verge of breaking out from its pattern of consolidation, at least according to the monthly chart book from the analytics team at Bank of America Merrill Lynch. If you look at the chart above you can see that the Shanghai Composite Index is in the midst of transitioning into an upward trend. Stephen Suttmeier, a technical research analyst at Bank of America Merrill Lynch, notes that we’ve reached the end of a five year downtrend and are set up for a breakout. Continues here     ...more

    Link ›

  • Marginal REVOLUTION

    Finland fact of the day

    Finnish students stay in college longer than in any other developed country save Austria, the Netherlands and Denmark, getting their first university degree on average at 29, according to a 2013 report by the Organization for Economic Cooperation and Development. That compares with 24 years for Britons, 26 for Germans and the OECD average of 27 years. Most Finns who graduate from college get a master’s degree. There is more here.  Of course that undoes a lot of the benefits from their excellent primary education system. ...more

    Link ›

  • TIME » Time Sections » Business

    This Berry Is Causing A Super-Food War Between America and Canada

    Link ›

  • Marginal REVOLUTION

    Department of Uh-Oh

    When it opened in 1990, the McDonald’s on Moscow’s Pushkin Square was a symbol of thawing relations with the U.S., attracting long lines and later becoming the fast-food chain’s most visited outlet world-wide. On Wednesday evening, it stood empty, closed by Russia’s consumer-safety regulator amid the Kremlin’s most-serious confrontation with the West since the Cold War. The agency cited sanitary violations as it said that it had closed four McDonald’s Corp.’s restaurants in Moscow. Analysts said the move was more likely the latest shot by Russia in response to U.S. and European sanctions over Moscow’s role in the armed conflict with its former Soviet neighbor, Ukraine. Food inspectors “have been instruments of Russia...more

    Link ›

  • Marc to Market

    Great Graphic: Relative Performance Real and Anticipated

    Link ›

  • CIPE Development Blog

    Citizens Work Together to Fight Corruption in Lebanon

    A lab technician went to the office of a public official to renew her work contract with a municipal laboratory in northern Lebanon. Several days after submitting her request, the official's secretary invited her to come to his office. Hoping to finally receive his signature on her contract renewal, the young woman arrived at the office only to find that he wanted to get her alone behind closed... ...more

    Link ›

  • Paul Krugman

    The Euro Catastrophe

    Link ›

  • Paul Krugman

    Hawks Crying Wolf

    Link ›

  • TIME » Time Sections » Business

    This Map Shows When 2 People Play the Same Song at the Same Time

    Link ›

  • Cafe Hayek - Article Feed

    Understanding the Minimum Wage

    (Don Boudreaux) Here’s a letter to the Wall Street Journal: Kudos to George Mason University economics PhD student Liya Palagashvili and to her GMU econ undergraduate student Rachel Mace for exposing the flawed analyses of those who contend that recent hikes in some states’ minimum wages resulted in especially strong job growth in those states (“Do Higher Minimum Wages Create More Jobs?” August 21). Yet another point deserves mention, one that I’m sure Liya and Rachel would have addressed had space allowed. Even if (contrary to Liya’s and Rachel’s finding) states that raised their minimum wages did indeed enjoy higher employment growth than did states that did not raise theirs, the foundational economic argument against the min...more

    Link ›

  • Marc to Market

    Emerging Markets: What has Changed

    Link ›

  • Brad DeLong's Grasping Reality...

    Liveblogging World War II: August 21, 1944: The Polish Home Army in Warsaw

    World War II Today: 21 August 1944: Poles seek help as they battle on in Warsaw: The Warsaw Uprising had been intended as a short sharp insurrection which would, if wholly successful, see off the last of the retreating Germans and allow the Poles themselves to welcome the advancing Red Army into the city. At the very least the underground Home Army – Armia Krajowa – would be able to assist the Russian to take the city. Neither scenario had come about. On Stalin’s orders Soviet forces had halted some distance from Warsaw and were doing little to assist. Meanwhile the Germans had shown a determination not only to to cling on to the city but fight back with a relentless savagery, sparing none of Warsaw’s civilians.> As the battle continued for much longer ...more

    Link ›

  • Cafe Hayek - Article Feed

    Deirdre McCloskey at the Illinois Policy Institute

    (Don Boudreaux) My apologies to those of you who tried yesterday to watch the live-streaming of Deirdre McCloskey’s talk at the Illinois Policy Institute.  Technical difficulties obstructed the effort to live-stream the event.  But here the recording! ...more

    Link ›

  • Beat the Press

    Name Calling at the NYT: Argentina and the Vultures

    Link ›

  • Marginal REVOLUTION

    Ferguson and the Modern Debtor’s Prison

    How does a stop for jaywalking turn into a homicide and how does that turn into an American town essentially coming under military control with snipers, tear gas, and a no-fly zone? We don’t yet know exactly what happened between the two individuals on the day in question but events like this don’t happen without a deeper context. Part of the context is the return of debtor’s prisons that I wrote about in 2012: Debtor’s prisons are supposed to be illegal in the United States but today poor people who fail to pay even small criminal justice fees are routinely being imprisoned. The problem has gotten worse recently because strapped states have dramatically increased the number of criminal justice fees….Failure to pay criminal justice fees can ...more

    Link ›

  • Worthwhile Canadian Initiative

    Land vs Helicopters

    [This post is not as clear as I want it to be. Sorry.] Most discussions of long run secular stagnation, and short run liquidity traps, ignore land. They shouldn't. If a central bank runs out of other options to increase aggregate demand, it could always use helicopter money. Or it could buy land. Is it possible that a central bank that was allowed to buy land would ever need to use helicopter money to prevent aggregate demand falling below target? Would it ever be desirable for central banks to issue helicopter money rather than buying land? Let's look first at the long run, then at the short run. Long run secular stagnation. If land lasts forever, and is in fixed supply, it is a savings vehicle exactly like Samuelsonian "money", except that it pays r...more

    Link ›

  • Marc to Market

    Greenback may Lose some Momentum Ahead of Yellen Tomorrow

    Link ›

  • naked capitalism

    Links 8/21/14

    Link ›

  • Economist's View

    A Conversation with Peter Diamond

    Link ›

  • Economist's View

    Who Wins and Loses from Global Trade?

    At MoneyWatch Who wins and loses from global trade?: Why are most economists more in favor of free trade than the general public? One reason may be that the models economists use to evaluate the impact of global trade often overlook some significant ways it affects jobs, income and social services. ......more

    Link ›

  • naked capitalism

    Lambert Talks With Tim Wu, Net Neutrality Pioneer and NY Lieutenant Governor Candidate

    Link ›

  • naked capitalism

    Pending Suit Against Countrywide’s Angelo Mozilo: Yet More Politically-Driven Selective Enforcement

    Link ›

  • Beat the Press

    NYT Condemns French for Believing In Economics

    Link ›

  • Economist's View

    Inflation, Fear of Inflation, and Public Debt

    Posting the video mysteriously causes formatting problems for the blog, so took it down and replaced it with link to the video: Chris Sims: Inflation, Fear of Inflation, and Public Debt ...more

    Link ›

  • John Quiggin

    How can we convince rightwingers to accept climate science …

    … persuade them to stop being rightwingers[1] I have a piece in Inside Story arguing that the various efforts to “frame” the evidence on climate change, and the policy implications, in a way that will appeal to those on the political right are all doomed. Whether or not it was historically inevitable, anti-science denialism is now a core component of rightwing tribal identity in both Australia and the US. The only hope for sustained progress on climate policy is a combination of demography and defection that will create a pro-science majority. With my characteristic optimism, I extract a bright side from all of this. This has three components (a) The intellectual collapse of the right has already proved politically costly, and these costs will increas...more

    Link ›

  • Fabius Maximus

    Before we start a new war with ISIS, let’s remember how we stumbled into the last two

    Link ›

  • Econbrowser

    (Not) The Leader of the Pack: Wisconsin and Her Neighbors

    Today the Philadelphia Fed released coincident indices (measures of aggregate economic activity) for the states and the US. Wisconsin outperforms Kansas — a very low bar R12; and yet has lagged all her neighbors. Consider first Wisconsin compared to Kansas (like Wisconsin an ALEC darling) and Minnesota and California (not ALEC darlings). Figure 1: Log coincident indices for Minnesota (blue), Wisconsin (bold red), Kansas (green), California (teal) and US (black), all normalized to 2011M01, seasonally adjusted. Source: Philadelphia Fed, and author’s calculations. Only the disastrous trajectory of Kansas’s economy makes Wisconsin’s performance look tolerable. Some observers have argued that the dissimilarities between these states invalidates...more

    Link ›

  • The Skeptical Speculator

    Japanese exports rise

    A report on Wednesday showed that Japan's exports rose 3.9 percent in July from the previous year, the first increase in three months. With imports rising 2.3 percent over the same period, the trade deficit narrowed 6.6 percent from the previous year. Investors were unimpressed though. The Japanese stock market was essentially flat on Wednesday as the Nikkei 225 eked out a 0.03 percent rise. Nevertheless, that enabled the index to extend its rally to eight days, its longest since last December....more

    Link ›

  • International Political Economy Zone

    Futbol Geopolitics: Crimean Clubs Join Russian Leagues

    "We're all Russians now," Sepp tells Vlad.With the end of the World Cup, I haven't had a single football (soccer)-related post. Let's fix that right here, right now. There's an interesting feature from BBC News on the consequences for incorporation of the Crimean peninsula into Russia through a "referendum." Say what you will about the legitimacy of that vote, but there is no doubting that a vast majority of people there would have wished to join Russia anyway.A rather visible manifestation of this ongoing (re-)integration of Crimea into Russia is that a number of clubs that formerly belonged to the Ukrainian league have, ah, broken away to join the Russian equivalents, albeit in the third division:The recent conflict between Russia and Ukraine has impacted directly on ...more

    Link ›

  • VoxEU.org: Recent Articles

    Nominal GDP targeting for developing nations

    Link ›

  • VoxEU.org: Recent Articles

    Ballooning finance

    Link ›

  • Paul Krugman

    Ancient Atlases

    Link ›

  • Free exchange

    Kidneys and housing bubbles

    Link ›

  • Worthwhile Canadian Initiative

    Physicians and Workload: A Very Simple International Comparison

    The Canadian Medical Association has been having its annual meetings this week in Ottawa and in honor of the event, let me put out another international comparison on physicians using data from the OECD Health Statistics 2013.  The first chart (Figure 1) is a basic resource availability measure showing the number of physicians per 1000 population for the OECD countries circa 2011.  The second chart (Figure 2) is a workload measure showing doctor consultations per capita circa 2011.  As Figure 1 shows, amongst the OECD countries Canada is well below the OECD average and in the bottom third when it comes to physicians per 1,000 of population.  We are between Japan and the United States when it comes to this measure.  The highest number of ph...more

    Link ›

  • Free exchange

    Economics for the masses

    Link ›

  • CIPE Development Blog

    Not Invited to the Party

    While 50 African heads of state prepared to visit Washington for the U.S.-Africa summit held earlier this month, one president who wasn't invited decided to throw a party of his own. In Zimbabwe, President Robert Mugabe invited dignitaries and government officials to the State House on July 31 to mark the one year anniversary of his party's victory over the opposition in national elections whose... ...more

    Link ›

  • Beat the Press

    The Federal Reserve Board Responds to Bankers

    Link ›

  • Fabius Maximus

    A senior US general expains that we’re learning to fight 4GWs, but slowly

    Link ›

  • The Skeptical Speculator

    Stocks rise as US housing starts rebound, inflation slows

    Stocks rose on Tuesday. The S&P 500 climbed 0.5 percent while the STOXX Europe 600 gained 0.6 percent. The US dollar rose 0.3 percent against the euro as well as the yen. Markets were boosted by better US economic data on Tuesday. US housing starts rebounded in July, surging by 15.7 percent after falling in the previous two months. Building permits jumped 8.1 percent last month. Meanwhile, US inflation slowed in July. Consumer prices rose 0.1 percent last month, down from 0.3 percent in June. Data from the UK on Tuesday showed that inflation there fell even more sharply in July. The inflation rate fell to 1.6 percent last month from 1.9 percent in June after consumer prices fell 0.3 percent in July. Annual house price inflation also slowed to 10.2 percent in June from 1...more

    Link ›

  • International Political Economy Zone

    Money Laundering or Investment? Chinese Buy Oz Property

    What is capitalism? What is state-driven capitalism? The blurred distinction between the two gives rise to now-frequent crackdowns on Chinese businesspersons during Xi Jinping's current drive to supposedly reduce corruption in the PRC. Unless you're a die-hard Marxist--property is theft, more so in a "Communist" state--the distinction isn't so clear. In an earlier post, I described how many Chinese are hedging their bets by seeking residences abroad should the purge in China reach Cultural Revolution proportions. While that's a remote possibility, you never know.Apparently, one of the choice destinations for the Chinese is Australia. Closer than Europe or North America, it is still relatively affordable. Throw in a large and growing Chinese communities in several destin...more

    Link ›

  • CIPE Development Blog

    Corrrupt Land Grabs Imperil Burma’s Democratic Transition

    The United Nations Universal Declaration of Human Rights states that “Everyone has the right to own property [and] no one shall be arbitrarily deprived of his property.” In Burma, a country in the early stages of its emergence from a half century of military rule and central economic planning, property rights violations could threaten democracy itself. READ MORE ...more

    Link ›

  • Greg Mankiw's Blog

    Teaching Conference

    I will be speaking at the annual conference of the National Economics Teaching Association, which this year is being held on Thursday, November 6th and Friday, November 7th, 2014 in San Diego, CA.  If you want to consider attending, click here for more information. You can potentially win a free trip to the conference, as well as some cash, by entering this contest....more

    Link ›

  • Econbrowser

    Wisconsin Employment Trends in Context

    Following up on last Thursday’s post, here is a depiction of how Wisconsin and Kansas — ALEC darlings — fare against Minnesota and California. Figure 1: Log nonfarm payroll employment for Wisconsin (red), Minnesota (blue), California (teal), Kansas (green) and the US (black), all seasonally adjusted, 2011M01=0. Vertical dashed line at beginning of terms for indicated governors. Source: BLS, and author’s calculations. The negative correlation between a high ALEC-Laffer economic outlook ranking and economic growth remains negative. ...more

    Link ›

  • Fabius Maximus

    Events from Ferguson explain why we are weak

    Link ›

  • Smart Economy

    Do Gut Bacteria Rule Our Minds?

       In an Ecosystem Within Us, Microbes Evolved to Sway Food Choices                    By Jeffrey Norris on August 15, 2014 Email         It sounds like science fiction, but it seems that bacteria within us – which outnumber our own cells about 100-fold – may very well be affecting both our cravings and moods to get us to eat what they want, and often are driving us toward obesity. In an article published this week in the journal BioEssays, researchers from UC San Francisco, Arizona State University and University of New Mexico concluded from a review of the recent scientific literature that microbes influence human eating behavior and dietary choices to favor consumption of the particular nutrients they grow best on, rathe...more

    Link ›

  • Free exchange

    Fad or fact?

    Link ›

  • iMFdirect - The IMF Blog

    Structural Reforms Can Help Japan’s Post-Consumption Tax Blues

    Link ›

  • Worthwhile Canadian Initiative

    Money, prices, and coordination failures

    [This is very long, and covers a lot of old ground for me, as well as some new. It was supposed to be a belated reply to Brad DeLong's post. But my thoughts wandered. (By the way, for some reason I never remember being annoyed at Simon Wren-Lewis, even when I disagree with him; but I do get very annoyed and frustrated when monetary policy does not do what I think it can do and is supposed to do.)] I have what might appear to be a peculiar obsession with money as the cause of recessions, and monetary policy as the cure. I am right. Those who do not share my obsession are wrong. Here's why: 1. Coordination. The central problem in economics is the problem of coordination. How the hell is it possible, for decentralised decisionmakers, each acting only in his own in...more

    Link ›

  • Jeffrey Frankel's Blog

    Has Italy Really “Gone Back Into Recession”?

     Has Italy Really “Gone Back Into Recession”? Italians and the world have now been told that their economy slipped back into recession in the first half of 2014.  This characterization is based on the criterion for recession that is standard in Europe and most countries:  two successive quarters of negative growth.  But if the criteria for determining recessions in European countries were similar to those used in the United States, this new downturn would be a continuation of the 2012 recession in Italy, not a new one.  A common-sense look at the graph below suggests the same conclusion: the 2013 “recovery” is barely visible. Worse, Italy under U.S. standards would probably be treated as having been in the same horrific six-year recession ever s...more

    Link ›

  • Institutional Economics

    Wayne Swan on Monetary Offset and the GFC

    Former Treasurer Wayne Swan is releasing some of his briefing notes from the GFC ahead of the launch of his upcoming memoir, The Good Fight. The first instalment from a meeting at the Prime Minister’s residence with the Prime Minister, Treasury Secretary and other senior officials on 4 August 2008 is remarkable for its acknowledgement of monetary offset. Indeed, the notes could just as easily have been written by Scott Sumner: There are three broad considerations the Government would need to keep in mind in taking a decision to engage in discretionary [fiscal] action: • The Reserve Bank through its control over interest rates, determines the overall level of aggregate demand in the economy, and the Bank would likely take account of any fiscal stimulus in its monet...more

    Link ›

  • Greg Mankiw's Blog

    Eric Posner and Glen Weyl on Piketty

    In The New Republic.  A tidbit:Only very extreme scenarios, where every wealthy individual does all of the following at the same time can lead to the sort of explosive inequality dynamics Piketty fears:Marries someone at least as wealthy or bequeaths all wealth to one child.Consumes very little.Avoids paying most taxes.Contributes little to charity or politics.Invests optimally while avoiding Bernie Madoff and his ilk.And it is hard to imagine why anyone would care about the existence of such an inbred, self-denying, and politically-removed class, if it could ever exist....more

    Link ›

  • Smart Economy

    Russian terrorists planned to shoot down Aeroflot and Russian civilians-shot down Malaysian Airlines Boeing MN17 instead

    REAL RUSSIAN RED FLAG OPERATION… TRAGIC FAILURE-WD   Why is the western media not all over this? Where is CNN when you need them? Ukraine's Security Service: Russian terrorists and militants planned a cynical terrorist attack against an Aeroflot civil aircraft (...Shot down Malaysian Flight MH17 instead)Valentyn Nalyvaychenko, Ukraine's Security Service Head: During the investigation of Malaysia Airlines Boeing-777 downing the law enforcement and intelligence bodies established that terrorists and militants have cynically planned the terrorist attack against Aeroflot civil aircraft, AFL-2074 Moscow-Larnaca, which was flying over the territory of Ukraine at that moment.     http://www.sbu.gov.ua/sbu/control/en/publish/article?art_id=129860&cat_id=35317 ...more

    Link ›

  • iMFdirect - The IMF Blog

    U.S. Labor Force: Where Have All the Workers Gone?

    Link ›

  • Alpha.Sources

    Weak economic data would test bonds in the periphery

    Volatility has engulfed the eurozone in the past few weeks, but bond markets remain a relative sea of calm. This could change quickly however, if the economic data in the periphery takes a serious turn for the worse. Given the absence of active balance sheet expansion at the ECB, Q3 PMIs have suddenly taken in critical importance   --- Picture is courtesey of Pantheon Macroeconomics and has also been posted on Twitter.  ...more

    Link ›

  • Smart Economy

    How to OUTFOX PUTIN?

      Short Version By Walter Derzko   Turn the Basic elements of information warfare, used by Russia against Ukraine  back against Russia: (source: RUSSIA’S REFLEXIVE CONTROL THEORY; 2004 http://www.rit.edu/~w-cmmc/literature/Thomas_2004.pdf)   The Current Information Warfare (called Reflexive Control) used by Russia against Ukraine today   Distraction, by creating a real or imaginary threat to one of the enemy’s most vital locations (flanks, rear, etc.) during the preparatory stages of combat operations, thereby forcing him to reconsider the wisdom of his decisions to operate along this or that axis; • Russian troops at the Ukrainian boarder Strategic missile tests Overload, by frequently sending the enemy a large amount of conflicting information; • Russi...more

    Link ›

  • iMFdirect - The IMF Blog

    Can Japan Afford to Cut Its Corporate Tax?

    Link ›

  • Jeffrey Frankel's Blog

    US Monetary Policy and East Asia

    I visited Korea earlier this summer and gave a talk on effects of U.S. Tapering on Emerging Markets.  (This was also the subject of comments at an Istanbul conference sponsored by the NBER and the Central Bank of Turkey in June.) An interview on the effects of policy at the Fed and other advanced-country central banks on East Asian EMs now appears in KRX magazine (in Korean), August. Here is the English version: Special Interview with  Jeffrey A. Frankel <KRX MAGAZINE> August Q: On 10 June 2014, Federal Reserve Bank of Boston President Eric Rosengren said in a speech that the Fed’s “new” monetary policy tools, including forward guidance and large-scale asset purchases, were “essential” in ensuring the economic recovery in the Unite...more

    Link ›

  • Greg Mankiw's Blog

    Wisdom from Thomas Sowell

    Larry Kotlikoff's comment on Paul Krugman's debating style in my previous post reminded me of an email I received earlier this summer:Hi Professor Mankiw, I'm an entering graduate student at [withheld] and a long-time reader (reading your blog when I was in high school introduced me to and got me interested in economics). I was reading Thomas Sowell's A Conflict of Visions and stumbled upon a passage that immediately reminded me of you, and your debates with Professor Krugman. I think it accurately describes a lot of disputes I've seen among intellectuals. If you're familiar with the basic premise of the book, you can skip this paragraph. If you aren't (or need a refresher) Sowell creates a spectrum of political visions. At one en...more

    Link ›

  • Institutional Economics

    The Financial System Inquiry and Macro-Pru

    I have an op-ed in Business Spectator endorsing the sceptical approach to macro-prudential regulation taken in the Murray inquiry’s interim report: Macro-prudential policies are seen as providing policymakers with a more targeted set of policy instruments that might complement or even substitute for changes in official interest rates. However, these instruments also implicate policymakers in making much finer judgements about risks to financial stability as well as the more traditional concern of monetary policy with price stability. A blunt instrument like monetary policy encourages caution in making such judgements. By contrast, more targeted counter-cyclical quantitative controls are a standing invitation to micro-manage credit allocation, but do not in thems...more

    Link ›

  • Jeffrey Frankel's Blog

    It Takes More than Two to Tango: Cry, But Not for Argentina, nor for the Holdouts

    U.S. federal courts have ruled that Argentina is prohibited from making payments to fulfill 2005 and 2010 agreements with its creditors to restructure its debt, so long as it is not also paying a few creditors that have all along been holdouts from those agreements.  The judgment is likely to stick, because the judge (Thomas Griesa, in New York) told American banks on June 27 that it would be illegal for them to transfer Argentina’s payments to the 92 per cent of creditors who agreed to be restructured and because the US Supreme Court in June declined to review the lower court rulings. It is hard to cry for Argentina or for its President, Cristina Fernández de Kirchner. Nevertheless the ruling in favor of the holdouts is bad news for the international financial syst...more

    Link ›

  • Institutional Economics

    Rent or Buy: Does it Matter?

    A RBA Research Discussion Paper on whether Australian housing is over-valued attracted considerable media attention. The (unsurprising) bottom-line was that Australian housing is currently fairly valued based on the user-cost approach, but that the average household might be better off renting now if, ‘as many observers have suggested,’ future real house price growth is less than the historical annual average rate of around 2.5% since 1955. As it turns out, the ‘many observers’ actually referenced in the paper are the RBA itself, which makes one wonder whether the RDP’s conclusion is part of the RBA’s broader jaw-boning effort directed at expectations for future house price appreciation. In fact, the RBA’s RDP makes an excellent case for the view that w...more

    Link ›

  • Alpha.Sources

    Is the Euro Overvalued?

    Well, yes if you ask Mr. Draghi it is, but not if you look at fundamental long run charts. Looking at both the REER and the trade weighted index, the euro is currently bang on average. Obviously, the ECB would like a weaker currency, but the best way to reach that objective will probably be to do nothing. It is difficult to expect a weaker currency amid a cyclical recovery with strong portfolio inflows and a current account surplus.    ---  Pictures are courtesey of Pantheon Macroeconomics and have also been posted at Twitter.  ...more

    Link ›

  • CYNICONOMICS

    Technical Notes for ‘Never Mind Their Distrust of Data and Forecasts…’

    This is a short appendix for our earlier post, “Never Mind Their Distrust of Data and Forecasts; Austrians Can Help You Predict the Economy,” in the usual Q&A format. Why do you show three different series in the first chart? We show “Net Private Debt from Census Bureau” because it has the longest history. We use it later to calculate 5-year credit growth figures for the period before the Fed’s “flow of funds” becomes available. We deduct financial and real estate corporation debt in the second dotted line to show that private debt growth in the late 1920s wasn’t skewed by financial debt (as it was in the 2000s). We can only back out financial debt from 1926 (not enough data to use in the “savings rates and credit growth” chart), but this series...more

    Link ›

  • CYNICONOMICS

    Never Mind Their Distrust of Data and Forecasts; Austrians Can Help You Predict the Economy

    [O]f all the economic bubbles that have been pricked, few have burst more spectacularly than the reputation of economics itself. – From The Economist, July 16, 2009. It’s been five years since the The Economist magazine published the critical commentary  excerpted above. In hindsight, the noted reputational damage was neither lasting nor spectacular. As of today, we’d say it’s almost non-existent. Mainstream economists continue to dominate their profession and wield huge influence on public policies. They merely needed to close ranks after the financial crisis and wait for people to forget that their key theories and models were wholly discredited. Meanwhile, heterodox economists who stress credit market risks and financial fragilities – the Austrians, the Mi...more

    Link ›

  • Alpha.Sources

    Confirming or Rejecting the idea of a eurozone recovery

    The following chart is an interesting one, depicting the sub-index from the EC consumer survey for major purchase intentions in the eurozone over the next year. Still moribund, this indicator suggests that the consumer is still very cautious in the euro area, but what if it breaks higher?  I will be watching this closely for a move higher—or a move back down into its post-crisis range—in coming months.    --- Picture is courtesey of Pantheon Macroeconomics, and has also been posted at Twitter. ...more

    Link ›

  • CYNICONOMICS

    Technical Notes for ‘Planning for Future Rate Hikes…’

    This is a short appendix for our earlier post, “Planning for Future Rate Hikes: What Can History Tell Us that the Fed Won’t?,” presented in Q&A format. I don’t understand the calculations in your charts – can you walk me through one of the figures? Sure, we’ll do this for the figure depicted by the first bar (6.1%) on the real fixed investment chart: We start by isolating all 4 quarter periods over which the fed funds rate dropped by more than 2%. There were 37 such periods in our data set, as shown in the first chart of the main article. For each of these periods, we record the growth in real fixed investment over the next 4 quarters. This is what we mean by lagged growth – we’re lagging the economic outcome against the change in interest rate...more

    Link ›

  • Dani Rodrik's weblog

    My moonlighting career of the last 4 years

    At long last, Turkey's consitutional court has reversed the conviction of the more than 200 officers previously found guilty in the bogus Sledgehammer coup plot, leading to the release on June 19th of all those in jail (including my father in law). Even though a retrial is to take place, the ruling is a coda to the last four-and-a-half years during which my wife and I moonlighted as criminal investigator, forensic analyst, and political activist. It has been a truly surreal and bizarre experience, given how so many intelligent people bought into -- and refused let go of -- a coup plot that was patently fictitious.     So I thought this would be a good time to post a longish account of my involvement in the story. I wrote it as much to make sense of it to...more

    Link ›

  • Dani Rodrik's weblog

    Joining Global Policy as general editor

    David Held is one of the most thoughtful researchers and commentators on global issues, so I am thrilled and honored to be joining forces with him as joint general editor of Global Policy. The journal publishes a range of exciting academic and policy oriented pieces. Check it out here....more

    Link ›

  • Dani Rodrik's weblog

    Erdogan’s Coup

    Daron Acemoglu wrote what seemed like a surprising upbeat piece on Turkish democracy a few days ago. His argument seems to be that democracy required power to be wrested away from the secularists who had erected authoritarian structures, and Erdogan had achieved that. Even though, Erdogan’s recent turn to authoritarianism is “lamentable,” it was, Acemoglu claims, a predictable stage in Turkey’s democratic transition. Once Erdogan is gone, the article implies, democracy would be on a stronger footing than ever. There were in fact many other paths that could have proved less costly. The more typical pattern is that the old elites reach a modus vivendi with the rising, popular forces that preserves some of their privileges in return for opening up (as happened in S...more

    Link ›

  • The Becker-Posner Blog

    Farewell

    In memoriam: Gary S. Becker, 1930-2014. The Becker-Posner blog is terminated. Richard A. Posner

    Link ›

  • Rick Bookstaber

    Piketty Myopia

    Thomas Piketty's book Capital in the Twenty-First Century has been lauded for its detailed analysis of data and for the end result of that analysis, a sweeping statement of an inexorable widening of the distribution of wealth between those with capital and those without. There is unabashed glee among those who have bemoaned the plight of the middle class as the one percent has pulled away, waving the book as the gotcha ya for income redistribution.  As should be clear from some of my previous posts, I am one of those people bemoaning the plight, but I am a little slower than many others to take up the Piketty banner. The book's argument looks at wealth and growth data over the past three centuries, and takes its implications forward with a similar, historical scope...more

    Link ›

  • Felix Salmon

    Post Felix

    By Shane Ferro Today is Felix’s last day at Reuters. Here's the link to his mega-million word blog archive (start from the beginning, in March 2009, if you like). Because we’re source-agnostic, you can also find some of his best stuff from the Reuters era at Wired, Slate, the Atlantic, News Genius, CJR, the NYT, and NY Mag. There’s also Felix TV, his personal site, his Tumblr, his Medium archive, and, of course, the Twitter feed we all aspire to. Counterparties may have been the brainchild of Felix and the recently departed Ryan McCarthy, but the blog, site, newsletter, and Twitter feed will continue to exist in their absence. It will be run by Ben Walsh and Shane Ferro, with some non-trivial amount of snark. Today we focus on the reason Felix started Counterparti...more

    Link ›

  • Felix Salmon

    The Piketty pessimist

    By Felix Salmon This chart comes from the World Economic Forum’s 2014 Global Risks Report, which came out just before Thomas Piketty’s book started becoming the topic of discussion in economic and plutocratic circles.* You can clearly see what you might call the rise of inequality-as-an issue: before 2012 it’s nowhere to be found, but since then it’s been consistently in the top spot. My prediction is that in 2015, thanks to Piketty, the WEF will start talking less about income inequality, and more about wealth inequality. The big question, though, is whether inequality is really much of a risk at all. After all, from the point of view of the average billionaire WEF delegate, inequality would seem to look much more like a reward. Chrystia Freeland has a hopeful...more

    Link ›

  • Felix Salmon

    The most expensive lottery ticket in the world

    By Felix Salmon No Exit, the new book from Gideon Lewis-Kraus, should be required reading for anybody who thinks it might be a good idea to found a startup in Silicon Valley. It shows just how miserable the startup founder’s life is, and raises the question of why anybody would voluntarily subject themselves to such a thing. A large part of the answer is that Silicon Valley is gripped by a mass delusion, compounded by a deep “fake it til you make it” attitude toward success. Why do so many people in Silicon Valley want to be founders? Because every founder they meet is always killing it, crushing it, having massive success, just about to close a huge round, etc etc. At some level, they must know this is impossible: if 90% of startups fail, it simply can’t be the...more

    Link ›

  • Rick Bookstaber

    Big Data versus the SAT

    In a recent Time Magazine article, the president of Bard College, Leon Botstein, joined a chorus of criticism of the SAT, going so far as to call it “part hoax and part fraud.”  Criticism is coming fast and furious because the SAT has just unveiled a new, improved product to try to fend off a trend among competitive colleges to downplay the role of the SAT, and even to eliminate its use entirely.  (The not-for-profit status of the College Board, which produces the SAT, does not put the company beyond reacting to a profit motive; not-for-profit does not exactly mean you don’t get benefits from pulling in more revenue). Among the critiques are that performance during one afternoon in the junior year of high school should not govern a student’s future (th...more

    Link ›

  • The Becker-Posner Blog

    Sabbatical Notice

    Starting this weekend, we will be taking a one-month sabbatical from blogging. We will resume at the end of that period.

    Link ›

  • The Becker-Posner Blog

    The Embargo of Cuba: Time to Go- Becker

    The US embargo of Cuba began in 1960, a year after Fidel Castro turned this island toward communism. It was extended to food and medicines in 1962, the same year as the showdown with Russia over the installation of missiles there. The embargo has prevented American companies from doing business with Cuba, and discouraged tourism to Cuba. The American government also tried with quite limited success to prevent other countries from trading with Cuba. In general economic embargoes are undesirable because they interfere with free trade among countries. Yet a case could be made for an embargo against Cuba. Castro not only allowed Russian missiles to be installed in Cuba, just 90 miles from Florida, but was also actively trying to interfere in other countries by sending troop...more

    Link ›

  • Stefan Karlsson's blog

    New Blog Address: http://stefankarlssoneng.wordpress.com/

    Link ›

  • Stefan Karlsson's blog

    Ukraine Crisis Isn't Over

    So now the so-called protestors have overthrown democratically elected President Yanukovich in what is in effect a coup. It is unclear what will happen, and how Russia and Yanukovich and his supporters will act, but this is almost certainly not the end of it.Indeed, how could it be the end? Some people argue that protestors were motivated by anger over corruption and abuse of power from Yanukovich. But while Yanukovich is no doubt corrupt and some protestors may indeed have been motivated by anger over that fact, the opposition movement led by Yulia Tymoschenko is just as corrupt as Yanukovich, so if they prevail, that won't mean less corruption and abuse of power.No, what this conflict is really about is that today's Ukraine is an artificial state created by Soviet com...more

    Link ›

  • Stefan Karlsson's blog

    How Old Posts Can Become Popular Again

    Suddenly, my post about why Ukraine should be divided between its anti-Russian and pro-Russian parts has seen a dramatic increase in page views. That is no doubt related to the latest escalation of Ukraine's political crisis with both government forces and the neo-Nazi elements of the opposition increasingly using violent means in the confrontation. Ukraine is dangerously close to a full scale civil war. Let's hope that it doesn't come to that. Ukraine has been ravaged for a century by wars, German Nazis, Communism, corruption and ethnic conflict, to add a(nother) civil war would be really cruel. I remain convinced that secession is the best way to solve the conflict peacefully....more

    Link ›

  • Rick Bookstaber

    Live to Eat, Eat to Live

    In a recent New York Times opinion piece, Paul Krugman assessed the possibility that the economy is in a new, constant state of mild depression, and suggests several reasons why this might be occurring, including slowing population growth and a persistent trade deficit. To this I would like to suggest another one, which has been a topic of some of my previous posts: We simply demand less in terms of the consumption of produced, brick and mortar types of goods because that is not where we are spending our lives. Granted, we need a place to live, food to eat, a car to get around, but now we are not living to eat, we are eating to live; we are living to do things that do not require a huge industrial machine. (I won't even get into the point that insofar as we require the...more

    Link ›

  • The Oil Drum - Discussions about Energy and Our Future

    The Oil Drum writers: Where are they now?

    Link ›

  • International Political Economy at the University of North Carolina

    Why US Financial Hegemony Will Endure

    Will and I have a piece, now ungated, over at a fantastic new online magazine called Symposium. Our article translates much of the main points of our Perspectives Piece (co-authored with Thomas and Andy Pennock) for popular consumption. We are also blogging over there this week in support of the article. Please do check out our writing this week on the magazine's website, as well as the other great content on the site....more

    Link ›

  • International Political Economy at the University of North Carolina

    Foreign Direct Investment, Human Rights, INGOs

    One of the major areas of underdeveloped research within political science is the interaction between non-state actors. From an international political economy perspective, the literature has largely ignored the interaction of various non-state actors that are growing in importance, and its effects on different forms of trade. In a recently published article "Avoiding the Spotlight: Human Rights Shaming and Foreign Direct Investment" by Colin Barry, Chad Clay and Michael Flynn, they lay the foundation for examining this interaction. They examine the interaction between non-state actors (INGOs) and multinational corporations (MNCs) and the extent to which private actors' choices to invest in countries are affected by the reputational costs of doing business in those...more

    Link ›

  • The Oil Drum - Discussions about Energy and Our Future

    The Last Post

    Link ›

  • The Oil Drum - Discussions about Energy and Our Future

    The House That Randy Built

    Link ›

  • International Political Economy at the University of North Carolina

    Verizon, Vodafone, and Measuring FDI

    Recently back from APSA in Chicago, I've been reflecting on the state of our knowledge about FDI (or perhaps more accurately, cross-border management stakes in enterprises). That, and working on my dissertation, applying for academic jobs, and teaching. Oh, and telling everyone who'll listen about my Optimus Prime sighting on Michigan Ave.Anyway, I find a post-conference review of the discipline is generally a good way to consider potentially fruitful lines of new inquiry. In my experience, the quality of papers at conferences can be rather hit-or-miss. This generally fits into my view of conferences as important sources of external deadlines for getting drafts done as well as interacting with other scholars in more informal settings such as the hotel bar/lobby/over-cro...more

    Link ›

  • Paul Kedrosky's Infectious Greed

    Twitter Digest: 2013-06-09

    Given that I block NSA & PRISM tweets, was entertaining tuning into twitter & trying to figure why everyone was on about Lord Snowdon -> Turned on GoT tonight just in time to catch Daenerys reenacting her Level 2 YMCA gymnastics pageant. -> How Not to Be Alone | Jonathan Safran Foer – http://t.co/HMFxg75lfh http://t.co/DzAtvWBQJr -> Excellent, but fellow sports-med geeks only: Sports and exercise-related tendinopathies: a review – http://t.co/WGkhRlO6Uz -> ...more

    Link ›

  • Paul Kedrosky's Infectious Greed

    Twitter Digest: 2013-06-07

    Photo-set: Flooding Across Central Europe – http://t.co/8G6j8teCbd -> CDC Update: Severe Respiratory Illness Associated with Middle East Respiratory Syndrome Coronavirus – http://t.co/hWqN1338VN -> Col Flagg: Have you ever heard of Malaysian Chest Implosion Torture? Radar: No. Coll Flagg: Good. It hasn’t been invented… yet. -> tl;dr: There are Manchurian Candidate engineers at large tech cos that have stolen SSL root cert and NSA is using it for cattle mutilation. -> Brian: …Will you please listen? I'm not the Messiah! Do you understand? Honestly Woman: Only the true Messiah denies his divinity! -> ...more

    Link ›

  • Paul Kedrosky's Infectious Greed

    Twitter Digest: 2013-06-05

    FRED: Free Energy Data – http://t.co/90H7GVDazO -> Solipsisms ‘r’ us, courtesy of my friends at @thinkup: I apparently mention me a lot – http://t.co/9rTRXvBM9D -> Almost 10,000 words on soccer/Italy/economics/racism by @wrightthompson? Yes, & it’s super. Go. http://t.co/g4sgEFLkIC -> When The Beautiful Game Turns Ugly: A journey into the world of Italy's racist soccer thugs http://t.co/nckrbeLPfs -> Can’t remember last time I read an OpEd or column. Do those still exist? -> ...more

    Link ›

  • The Street Light

    Cyprus and Eurozone Bank Deposits

    To me, the central issue raised by this week's Cyprus debacle is how it has affected confidence across the eurozone.  To what degree has the possibility of insured depositors at a eurozone bank losing a portion of their deposits affected the mindset of depositors?  To what degree has ECB acquiescence to this possibility undermined the notion that deposit insurance in the eurozone means the same thing in all countries?  And to what degree has the ECB's direct threat to end support for Cyprus's banking system in the event that the government of Cyprus can not arrange sufficient funds to meet its conditions made a farce of its earlier promise to "do whatever it takes to preserve the euro"?These, to me, are the interesting questions prompted by this week's ev...more

    Link ›

  • London Banker

    Chop Off Their Hands . . .

    President Truman famously called for a one handed economist. The Carolingian kings of France would have accommodated him. They realised that a kingdom required a common currency under the control of the king and well regulated markets to sustain the confidence of the people. At first mints were established widely, spread across the kingdom. Local barons began to profit from debasing the coinage, undermining confidence in the monetary system. So Charles the Bald established mints under his direct control and regulated the issue of coins: C.12. Following the custom of our predecessors, just as it is found in their capitularies, we decree that in no other place in all our kingdom shall money be made except in our palace, and in St. Josse and Rouen, which right in th...more

    Link ›

  • The Street Light

    When the Fed Chair is an Academic

    The big economic news of the week was, in fact, big economic news: the Fed's announcement of significant changes from past practice in the the quantity of its next round of large scale asset purchases ("unlimited"), and in the timing of any future reversal of this expansionary policy ("a considerable time after the economic recovery strengthens").I view this as a pretty fundamental shift in how the Fed hopes to affect the economy.  Rather than trying to push economic activity one way or the other through its management of interest rates (which can alter economic activity through its portfolio-rebalancing and wealth effects, for example), the Fed is now quite explicitly trying to affect economic activity by altering interest rate and inflation expectations.  As...more

    Link ›

  • London Banker

    For Want of a Nail, the Ship Was Lost

    Imagine a great ship dominating the skyline on a distant sea. Imagine the complexity of that ship: keel, ribs, planks, masts, spars, and an infinite number of less readily named components. Each component was hand-crafted by a craftsman skilled in his trade, to precise requirements, and secured in position to take the stress and strain of a life at sea.Now imagine a crew. They didn't build the ship. The crew are told that the one and only purpose of the ship is to realise a profit for every man jack aboard. Any hand not contributing a profit will be turned ashore. Down below in the ship are nails. Thousands and thousands of nails. Nails are useful. Nails are much sought after in every port the ship enters. Nails can be readily sold and never traced. The crew h...more

    Link ›

  • London Banker

    Lies, Damn Lies and LIBOR

    I've been hesitant to write about the LIBOR scandal because what I want to say goes so much further. We now know that Barclays and other major global banks have been manipulating the calculation of LIBOR through the quotation data they provided to the British Bankers Association. What I suspect is that this is not a flaw but a feature of modern financial markets. And if it was happening in LIBOR for between 5 and 15 years, then the business model has been profitably replicated to many other quotation-based reference prices.Price discovery is not a sexy function of markets, but it is critical to the efficient allocation of scarce capital and resources, and to the preservation of the long term wealth of investors and the economy as a whole. If price discovery is compr...more

    Link ›

  • The Street Light

    Government Job Destruction

    Another jobs report in the US, another month where part of the private sector's job creation was undone by continued job destruction by the government sector. The 15,000 additional jobs lost in April brings total job losses in the government sector since January 2010 to over 500,000. While the US has not quite been experiencing European-style austerity over the past two years, that's still a pretty tough headwind to fight as it emerges from recession. ...more

    Link ›


Most Read | Featured | Popular

Blogger Spotlight

Otaviano Canuto

Otaviano Canuto is Senior Advisor on BRICS Economies in the Development Economics Department, World Bank, a new position established by President Kim to bring a fresh research focus to this increasingly critical area. He also has an extensive academic background, serving as Professor of Economics at the University of Sao Paulo and University of Campinas (UNICAMP) in Brazil.

Economics Blog Aggregator

Our favorite economics blogs aggregated.