The effects on labor standards and trade
Today we are fortunate to have a guest contribution written by Isao Kamata, Assistant Professor of Public Affairs and Economics at the University of Wisconsin, Madison. This post is based upon this working paper; the paper also circulates as a Research Institute of Economy, Trade and Industry (RIETI) discussion paper.
Released today, available here.
Most accounts of inflation focus on national statistics. While the national series is still low, in some select locations, it’s even lower.
Accompanying the release of the President’s budget (link corrected 3/5 1:20) was the Administration’s forecasts, including forecasts of GDP. These forecasts are produced by the Troika (Treasury, CEA, OMB). Some observers have asked “Is the White House’s 3.1% growth forecast still too rosy?”. Time for some comparisons.
If a collapse in aggregate demand is not at fault, then was an aggregate supply shift? A quick-and-dirty evaluation using some back-of-the-envelope calculations
Updated 3/4 5PM
Here are some immediate consequences of Russia’s intervention in the Ukraine. From Reuters:
OK, nothing about birthers, but some comments on truths held deeply, but unjustifiably, by certain types of people.
Today we are fortunate to have a guest contribution written by Jeffrey Frankel, Harpel Professor of Capital Formation and Growth at Harvard University, and former Member of the Council of Economic Advisers, 1997-99. He is currently a member of the National Bureau of Economic Research (NBER) Business Cycle Dating Committee.
Today we are fortunate to have a guest contribution written by Yin-Wong Cheung, Professor of International Economics at City University Hong Kong, formerly professor at UCSC, and Risto Herrala, economist at the Bank of Finland.
…we update the [original statistical model (7)] by estimating it with data through 1998. The selected sample ends just before the recent period of slowed warming. As such, the parameter estimates do not use information about the post-1998 period. Model simulations reflect these pre-1998 parameters and post-1998 observed levels of radiative forcings, SOI, and volcanic sulphates.