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Things to Read on the Afternoon of July 2, 2015
Must- and Should-Reads: Ryan Cooper: “Being in power while unemployment skyrockets towards 30 percent is not so great for one’s political prospects. PASOK did not just lose, it has been essentially destroyed–falling from 38 percent of the vote in 2009 to less than 5 percent this year…” Must-Read: Monique Morrissey: Are Disability Rates Increasing? Must-Read: […]
The Rigid DNA of the European Central Bank
The slow-motion economic crisis in Greece finally accelerated into high gear this week, with the imposition of a bank holiday and capital controls following the withholding of another round of capital by the European Central Bank from Greece’s insolvent banks. This is what it looks like when a fixed exchange regime such as the euro […]
Looking Beyond the Latest U.S. Jobs Data
Every month the top-line data about the growth of jobs and wages in the U.S. economy are swiftly dissected by the financial markets for indications about the strength and direction of the economy. Yet the importance of these monthly statistics as they relate to U.S. income inequality and more long-term economic growth is often ignored. […]
What to Read to Gain Perspective on Economics?
A question of special interest to me right now because the departmental powers-that-be have decided to ask me to go back onto the 700-person Econ 1 Wheeler teaching line next spring… Chris Y.: A colleague (middle grade civil servant) has sent this request to Mrs Y: I was wondering if we could do a mentor […]
More Musings on the Sources of Involuntary-Unemployment Business Cycles
Over at Grasping Reality: Robert Waldmann**: Comment on “More Musings on “Monetary Economics”: “Also: it is not the case that curing the excess demand for safe and liquid assets always requires painful ‘liquidation’ and austerity… is true but doesn’t go very far. In particular, painful liquidation doesn’t require austerity–overinvestment is costly to those who overinvested […]
Weekend reading
This is a weekly post we usually publish on Fridays with links to articles we think anyone interested in equitable growth should be reading. We won’t be the first to share these articles, but we hope by taking a look back at the whole week, we can put them in context. Links University of Chicago […]
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