Archive for the ‘Wages’ Category

PK on JB on JY

August 25th, 2014

Paul K makes a cogent point re my post on Fed chair Janet Yellen’s explanation for recent wage trends. Many of us, including Chair Yellen herself, take the fact that nominal wage growth has been stable for years now at around 2%–about the rate of inflation, implying flat real wage growth–as evidence that considerable slack remains… Read more

Chair Yellen Needs Many Hands to Juggle Income Data

August 22nd, 2014

I review the Fed chair’s Jackson Hole speech from earlier this AM, over at PostEverything. It’s–appropriately–a lot of “on the one hand, this…on the other hand, that.” And while no one should deify the Fed chair, that does bring the following image to mind: At times when the data are ambiguous, this Goddess would make… Read more

Cyclical vs. Structural: Bivens and Shierholz Turn Over Every Stone to Find Out

August 21st, 2014

As central bankers gather for their annual conference in Jackson Hole, Wyoming, a top agenda item is evaluating the current and future amount of slack in the US economy. In this regard, they’d be well advised to check out this new study from the two economists at the Economic Policy Institute which provides an exhaustive… Read more