Over at the WaPo, I speak to the existence of an FEPM. Hard to prove–I think you’d probably need to track individual firms over time–but I’ll bet it’s operative. I’ll note without comment that according to a BLS release this AM, productivity fell 3% in the first quarter. Now, that didn’t happen–noisy quarterly data. But… Read more
[See “update” at end of post–JB] The NYT reported on this presentation yesterday at which I spoke on the results from a new trade model, by economists from Tufts University, of long-run growth outcomes from the TPP. The Times piece characterized me as there to “support the authors.” That’s correct. But I want to be very clear… Read more
…we’re leaving less advantaged kids behind, leaving significant net benefits on the table, and making it harder for parents to go to work. Over at WaPo.
The table below is from today’s release of the Employment Cost Index, a metric of compensation growth–not just wages, but benefits too–that the Fed cares about. The ECI “measures the change in the cost of labor, free from the influence of employment shifts among occupations and industries.” IE, in order to get a purer take on… Read more
Here’s is a great deck by Mark Pearson from the OECD from the National Academy of Social Insurance conference yesterday. Pearson compares inequality across various countries, as well as the extent and impact of taxes and transfers on market-based income dispersion. He covers a ton of great stuff here but misses a chance to make… Read more