February 28, 2013
What If People Lived Forever . . .
In a New Keynesian DSGE (or a RBC)
February 26, 2013
Approximate Geographic Impact of the Sequester
February 25, 2013
Yen Depreciation and the Scope for Expenditure Switching
With Haruhiko Kuroda ascending to head the Bank of Japan , it is likely that monetary policy will remain fairly expansionary. Even without direct intervention in foreign exchange markets, the yen will likely continue to weaken as expectations of inflation rise. What is the likely impact of trade flows?
February 24, 2013
The Dorian Gray pill
On Friday I attended the U.S. Monetary Policy Forum in New York City. I will be posting some material about the paper I presented at the conference later this week. But today I wanted to mention an interesting talk at the conference by Harvard Professor Greg Mankiw on health care costs.
February 21, 2013
Multipliers When Last the Zero Lower Bound ... Bound
Empirical evidence on Inter-war multipliers
February 20, 2013
Minimum wage and unemployment
With the recent proposal to raise the minimum wage, I noticed that California currently has one of the highest minimum wages ($8.00/hour) and one of the highest unemployment rates (9.8%) in the country.
February 19, 2013
Macroeconomic Advisers on the Sequester's Impact
Estimated self-inflicted macro harm, from Macroeconomic Advisers today:
Some Environmental Issues Surrounding Keystone XL
February 17, 2013
Planned crude oil pipelines
The EIA last week released a nice summary of planned additional U.S. pipeline capacity.
February 15, 2013
Heritage Still at the Cutting Edge
From J.D. Foster, Ph.D., "Budget Cuts Would Not Harm the Economy" (February 14, 2013):
The [basic Keynesian] theory fails because it relies on the unstated fantasy government can magically create demand out of thin air. In fact, government must borrow to finance deficits, and all borrowing subtracts from the funds that would otherwise be available and used in the private sector for private investment or private consumption. ...
The Low Income Wage Bill Responsiveness to a Minimum Wage Increase
Quasi partial equilibrium algebra and a graphical analysis
February 14, 2013
Quantitative Easing, Intervention, and Currency Wars, Again
Thinking about what is driving -- and will drive -- the yen
February 13, 2013
Prices of gasoline and crude oil
Here I comment on some recent developments affecting the prices of WTI, Brent, and gasoline.
February 11, 2013
Sequester in the Time of ZLB
In several weeks, absent action by policymakers, the Federal government will begin implementing $85 billion worth of across-the-board cuts during FY2013 (i.e., in the months before October). 
February 10, 2013
Dude, where's my cheap gas?
Those who have been told that oil production is booming may be wondering why the prices of oil and gasoline are climbing again.
February 07, 2013
Some Thoughts on the Recovery, Conditional Forecasting, and Proper Citations
More analysis from the Heritage Foundation
A Comparison of Selected Economic Indicators for Minnesota vs. Wisconsin
And assessing Walker's "open for business" program thus far
February 05, 2013
Evolving Views on Fiscal Multipliers
Context relevant estimates suggest larger, not smaller, fiscal multipliers.
February 03, 2013
Is this a good time to buy stocks?
With the stock market setting new 5-year highs, I was interested to take another look at some of the long-term fundamentals underlying equity values.
February 01, 2013
The January 2013 Employment Release
Private nonfarm payroll employment in continues to rise, by 166,000; December 2012 employment is revised up by 0.6% (log terms), when incorporating the benchmark revision (0.5% for total nonfarm payroll employment).