Data Sources, Again [Updated]

[Updated to include CoRev’s analysis of trends 4/16/2019] I have repeated requests for raw data used in this post, part of which is plotted in this graph. Reader CoRev writes:

…Menzie has admitted he mis-attributed his full range of sources used, and has yet to provide ALL the data he used.

This is not true. I didn’t admit mis-attribution. All I can conclude is that there is some confusion over terms.

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Guest Contribution: “The Euro area: Are member countries similar enough to share the same currency?”

Today we are pleased to present a guest contribution written by Virginie Coudert (Banque de France and CEPII), Cécile Couharde (EconomiX-CNRS, University of Paris Nanterre), Carl Grekou (CEPII and EconomiX-CNRS), and Valérie Mignon (EconomiX-CNRS, University of Paris Nanterre, and CEPII). This blog post reflects the opinions of the authors and does not necessarily express the views of the institutions to which they belong.

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When the Textbook Is Right: Implications of the Trump Fiscal/Trade Regime

Today we learned that through March, the Federal budget deficit was 15% larger than the corresponding point in the last fiscal year — as expected given a not particularly stimulative tax cut (so much for tax cuts paying for themselves, as Stephen Moore claimed) and the ending of spending restraints. The dollar remains at elevated levels, as interest rates have risen. The trade deficit, excluding petroleum, continues to deteriorate. As I explained to my macro class today… it’s all textbook (notes).

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