Archive for the ‘New Posts’ Category

Quick note on the use of “natural rates” in macro analysis

November 24th, 2015

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

Our tax debate is more cramped than ever

November 24th, 2015

Hillary’s attacking Bernie for raising taxes on the middle class, which both suggests a serious constraint on a truly progressive policy agenda and may be necessary to get elected. Even while the firm is already as master tax avoider, Pfizer is inverting–moving its tax mailbox to Ireland while keeping its operations largely here (and thus… Read more

What is the “natural rate” for u6?

November 23rd, 2015

Not the sexiest title, I grant you, but important stuff, nevertheless. Those of us interested in just how close we are to full employment like to track the more comprehensive “u6” rate, aka, “underemployment.” It includes all the unemployed, but also the millions of involuntary part-timers (IPT)—who are, quite literally, underemployed—plus a small subset of those… Read more