October 31, 2012
Economic Effects of Hurricane Sandy
As the eastern U.S. tries to dig out from under the devastation, I thought it might be useful to comment on the economic consequences that a storm like this could have.
October 29, 2012
Romney/Ryan on FEMA and NOAA
With an update (10/31) "Obama cuts FEMA funding by 3 percent. Romney-Ryan cuts it by 40 percent. Or more. Or less.".
From National Journal, Governor Romney on FEMA:
October 28, 2012
Yet another discouraging GDP report
That's the same title I used to summarize the U.S. 2012:Q2 GDP report released back in July. Doesn't look like there's much need to use any different headline for the 2012:Q3 numbers released on Friday.
October 27, 2012
Romney Assesses the Motor Vehicle Sector
With an update (in response to comments alleging media bias) from the leftist publication, Wall Street Journal.
In a speech Thursday, Governor Romney stated:
October 25, 2012
Why Governor Romney’s Threat on the Chinese Currency Matters
Maybe. Governor Romney has stated that he will declare China a currency manipulator on Day One, should he be elected President. In contrast to his other policy positions – from tax rates on the upper incomes, defense spending, coverage of pre-existing health conditions, the Blunt Amendment, Afghanistan timetable, first strike on Iran – he has exhibited remarkable (and pretty unique) constancy in his desire to call China a currency manipulator. In fact, one can find news reports from 2007 onward attesting to this long-standing stance , , ; so if there is any promise we should believe he will follow through on, it’s this one. And from Believe In America: Mitt Romney's Plan for Jobs and Economic Growth (under "Day One"), it is:
October 24, 2012
Here are two maps for those trying to follow the U.S. presidential election.
October 23, 2012
Guest Contribution: How “Different” is the Recovery from the Financial Crisis?
By David Papell and Ruxandra Prodan
October 22, 2012
Enter the Asterisk
October 21, 2012
Reducing oil imports
On Wednesday I noted that encouraging more U.S. oil production was unlikely to result in a significant drop in U.S. retail gasoline prices. Nevertheless, I believe that there would be some important economic benefits from lowering the U.S. oil import bill, as I discuss here.
October 18, 2012
To Make the Math Add Up, Romney Needs Ryanomics
Or more precisely, Ryanomics as interpreted by the Heritage Foundation/Center for Data Analysis.
October 17, 2012
Presidential decisions and the price of gasoline
Here I offer a few reactions to some of the comments that President Barack Obama and Governor Mitt Romney made about energy policy in their debate last night.
October 16, 2012
Against a Sea of Enemies: China as Currency Manipulator
One of the interesting things about the presidential debate tonight was the prominence of China. Governor Romney repeated his insistence that he would declare China a currency manipulator "on day one". (I am surprised he didn't mention the "yellow peril".) If his criterion is forex intervention, he should be prepared to declare many other countries manipulators as well.
China and the Middle Income Trap
Fated to a big trend slowdown?
October 15, 2012
If You Want Faster Growth...
From the Foreign Policy survey: The Economy (released today):
October 14, 2012
Update on Iran sanctions
The boycott of Iran has been more successful than I had anticipated, with Iranian oil production and exports down significantly from a year ago.
October 12, 2012
Watergate! Iran-Contra! BLS 2012.10.5?
Paranoia and Conspiracy Theory in a Time of Excel
October 11, 2012
Governor Brown solves California's gas price problem
Though the record gasoline prices paid by Californians last week received national attention, it was from the beginning strictly a California problem.
October 09, 2012
International Finance and Open Economy Macro
Michael Hutchison, Professor of Economics at UC Santa Cruz, and Helen Popper, Professor of Economics at Santa Clara University, have organized the West Coast Workshop on International Finance and Open Economy Macroeconomics, taking place on Friday, October 19th. Those interested in thinking in a serious fashion about international should take a look.
October 07, 2012
California gas price spike
Californians who bought gasoline on Friday experienced an unpleasant shock.
October 05, 2012
Average Monthly Employment Growth Revised Up
With the September employment release, average monthly employment figures over the last four months is 120.5 thousand, versus the three month average as of the August release of 94 thousand. Furthermore, taking into account the preliminary benchmark revision for March 2012, one sees that not only is the trajectory higher, so too is the level of employment.
October 04, 2012
At Long Last, One Member of the 47% Where He Belongs!
Keynesians in the Congressional Research Service!
Or, more accurately, non-New Classicals in the CRS
October 03, 2012
Natural gas for transportation
As President Obama and Governor Romney prepare for the first presidential debate this evening, I thought I would offer my vision of where our nation's leaders should try to take the country.
October 01, 2012
So says David Malpass in the WSJ:
"Lost Decades": Reality versus the Fantasy of Easy Fixes
The paperback edition of Lost Decades is officially released as of today.