Category Archives: Uncategorized

Congrats to Matt Gentzkow on winning the JBC Medal!

Huge congratulations to Matt Gentzkow for winning the John Bates Clark medal! Here is the AEA’s write up of his work. Matthew Gentzkow has made fundamental contributions to our understanding of the economic forces driving the creation of media products, … Continue reading

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Tapping the Brakes: Are Less Active Markets Safer and Better for the Economy?

From Joe Stiglitz and summarized by Felix Salmon:

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The Euro and the Geography of International Debt Flows

From Galina Hale and Maurice Obstfeld: Greater financial integration between core and peripheral EMU members had an effect on both sets of countries. Lower interest rates allowed peripheral countries to run bigger deficits, which inflated their economies by allowing credit booms. … Continue reading

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Weekend Links: Understanding Piketty, Falling Interest Rates, Secular Stagnation, etc

Brad Delong has a great post that provides an analytical framework for understanding the historical narrative in Piketty’s new book. Barry Eichengreen has a nice piece on declining interest rates Larry Summers gave a talk at INET (starts at 45 … Continue reading

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Banks as Patient Fixed Income Investors

From Sam Hanson, Andrei Shleifer, Jeremy Stein, and Robert Vishny: We examine the business model of traditional commercial banks in the context of their co- existence with shadow banks. While both types of intermediaries create safe “money-like” claims, they go about … Continue reading

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Inputs in the Production of Early-childhood Human Capital: Evidence from Head Start

From Chris Walters: Studies of small-scale “model” early-childhood programs show that high-quality preschool can have transformative effects on human capital and economic outcomes. Evidence on the Head Start program is more mixed. Inputs and practices vary widely across Head Start … Continue reading

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A Model of Secular Stagnation

From two of my favorite macroeconomists, Gauti Eggertsson and  Neil Mehrotra: In this paper we propose a simple overlapping generations New Keynesian model in which a permanent (or very persistent) slump is possible without any self-correcting force to full employment. The … Continue reading

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Christy Romer: After A Financial Crisis, Economic Disaster Is Not Inevitable

Bonnie Kavoussi’s Blog: Christina Romer: After A Financial Crisis, Economic Disaster Is Not Inevitable.

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Seven Tax Issues Facing Small Business

Originally posted on Donald Marron:
Today I had the chance to testify before the House Small Business Committee on the many tax issues facing small business. Here are my opening remarks. You can find my full testimony here. America’s tax system…

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Structural Transformation, the Mismeasurement of Productivity Growth, and the Cost Disease of Services

From Alywn Young: If workers self-select into industries based upon their relative productivity in different tasks, and comparative advantage is aligned with absolute advantage, then the average efficacy of a sector’ s workforce will be negatively correlated with its employment … Continue reading

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