A number of observers have been pointing to oil shale as the solution to all our energy problems. If oil shale does turn out to be the resource of the future, then our problems are only beginning.
Monthly Archives: September 2005
Introducing Menzie Chinn
Econbrowser is pleased to welcome guest blogger Menzie Chinn, who is Professor of Public Affairs and Economics at the University of Wisconsin, Madison.
On the origin of American current account deficits
Here are some more thoughts on the debate over the source of the U.S. current account deficit and whether it matters.
Responding to supply shocks
It seems pretty clear to me that a monetary contraction isn’t the appropriate policy response to a supply shock. Apparently there are those within the Federal Reserve who see things differently.
Economic effects of Rita
A lot of people are bracing for huge effects of the latest Gulf storm on energy markets. I see reasons for hoping things won’t be that bad.
The space pioneers
You have to wonder about the timing, if nothing else. Last week, Cato Institute researchers warned of a looming budget disaster if strong measures such as cutting the budget for the National Aeronautics and Space Administration in half were not taken. On Monday, NASA chief Michael Griffin unveiled a new $104 billion plan for sustained human exploration of the moon by 2018 as a preparatory step for getting people on Mars. Here’s my suggestion for how to explore space without breaking the budget.
Consumer confidence plunges
Yet another key leading indicator turns gloomy. How much can the stock market and the Fed shrug off?
Pop quiz on the deficit
Here’s a pop quiz for macroeconomic students from Economist’s View on how to deal with the deficit.
Lawsuit abuse
Two more examples of why I think America’s lawyers are out of control.
Who cares about core inflation?
This is another one of those months when you could report pretty much any number you like to summarize the current inflation rate, and, as William Polley noted, newspapers did. At times like these, the concept of “core inflation” can be very helpful.