The entire quote is here.
Commenting on the Kansas Palmer Drought Severity Index, Rick Stryker writes: “From a theoretical point of view it must be stationary.” He reasons that this is so, because it is bounded between -10 and +10. Question: Is this a relevant piece of information when examining finite samples? Let’s look at consumption as a share of GDP, which must be bounded between 0 and 1.
How to — and not do — time series analysis
Long time readers of Econbrowser know that I have tabulating US direct outlays in Operation Iraqi Freedom, and operations thereafter. Imagine my surprise when in The Commander in Chief Forum, Donald J. Trump stated that we’d spent three trillion dollars. This prompted me to refer to actual, real-world, data. As far as I can tell, three trillion is not a number that exists in reality.
Complete quote: “Obama’s talking about all of this with the global warming and … a lot of it’s a hoax. It’s a hoax. I mean, it’s a money-making industry, OK? It’s a hoax, a lot of it.” — Donald J. Trump, 30 December 2015.
The Kauffman Foundation has just released its report on startup activity. Wisconsin comes in last place in startup density.
There is widespread belief that Abenomics has led to no increase in output in Japan. It therefore seems useful to examine the data.