This is why we all need to read Dean Baker’s Beat the Press column. This alarm bell–“the old are ripping off the young!”–goes off all too frequently. The answer is not, as such histrionics imply, to do less for the elderly, most of whom depend on Social Security and Medicare (Dean also makes the point… Read more
Ben Spielberg and I choose 12 charts that we think make important points re economic policy in 2015 from CBPP, OTE, and a few other places. Check ’em out over at WaPo.
Over at WaPo. The wage part of the story I show, lifted from a piece in WSJ about Lincoln, NE, where unemployment is 2.3%, is a familiar one, though the magnitude of the growth rate is pretty striking. But the productivity part is, of course, trickier (“of course” because I don’t think economists really know… Read more
The IMF votes today to decide whether to add the Chinese currency, called both the yuan and the renminbi, to its basket of four other currencies that make up its SDRs–special drawing rights. All signs are that the yuan will get the nod and jump into the basket alongside the US greenback, UK pound sterling,… Read more
In yesterday’s post on underemployment, I employed various concepts used by many in high places in contemporary economic analysis, including “natural rates” of un- and underemployment–i.e., the lowest rates consistent with stable inflation–the “equilibrium” Fed funds rate–the one consistent with stable growth that’s neither too hot nor too cold–and so on. Some readers and Tweeters… Read more