I need to read Martin Wolf’s new book, “The Shifts and the Shocks,” his diagnosis of the factors that brought on the financial crisis and his prescriptions for getting out of this terribly damaging bubble, bust, repeat cycle. But in the meantime, it’s worth giving a read to Felix Salmon’s review in yesterday’s NYT. Salmon… Read more
Sorry, but Steve Roth’s critique of my Inequality and Growth paper for CAP is misleading and inaccurate. Moreover, he had to work pretty hard to miss my points linking inequality to macro-instability and thus persistent periods of weak growth. Not only does Roth somehow miss my emphasis on what I think are critically important linkages… Read more
By Chicago Fed President Charles Evans–I’ll have more to say about this later, but for now, your homework is to read this carefully.
Not hard to do–and nothing against either of those big brains–but I’m confuzzled by this post from Brad. The question–or at least one of the questions–is a) whether there’s hysteresis in play and b) whether reverse hysteresis can be invoked to repair some of the damage. I’m too rushed to go into explanations of terms… Read more
They’re out and I’ve got an extensive analysis up at PostEverything. For here, some highlights. –The poverty rate fell more than I expected last year–down half-a-percentage point from 15% in 2012 to 14.5% in 2013. It was fully driven by a sharp decline in child poverty rate, which fell almost two percentage points, from 21.8%… Read more