Does today’s CPI release indicate that inflation has returned?
Author Archives: James_Hamilton
Stagflation
Do recent energy shocks mean we might see a replay of the 1970’s stagflation? I believe not, and here’s why.
Macro effects of oil shocks– what should we be looking for next?
I recently prepared an entry on the macroeconomic effects of oil shocks for the new edition of the Palgrave Dictionary of Economics. Here I sketch some of the material from that essay and explore the implications for where the economy may be headed next.
Oil prices coming down
Oil prices have been coming down significantly this week. Is that good economic news?
HR 3893
Having discovered that this summer’s behemoth energy bill in fact did nothing to help with the problems uncovered by Hurricanes Katrina and Rita, Congress is ready to try again with HR 3893, which was reported out of committee last week. This one actually has some good ideas in it.
What’s good for GM…
U.S. automakers can’t be very pleased about September sales figures.
But you said that more saving was a good thing
After many of us have been arguing for some time that an increase in the U.S. personal saving rate was key for promoting long-run growth and reducing the trade deficit, the American consumer finally obliged with a 0.5% drop in consumption spending in August. But analysts such as Angry Bear and Macroblog see this as an ominous development. So which is right– is more saving a good thing or a bad thing for the economy?
Oil shale retort
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.
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.
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.