How surprising?
Author Archives: Menzie Chinn
“Job Creation Continues: More than 5.7 Million Jobs Created Since August 2003” — White House
Following up on Floyd Norris’s article on how slow employment growth has been during the current expansion, as well as numerous other comments on the Web, I examine other dimensions of labor market performance.
Ex post versus ex ante benefit-cost analysis: Iraq 2003-
Now that the long-delayed Senate report on pre-Iraq War intelligence has finally put the Republican imprimatur on the well-established fact that the case for Iraqi WMD’s had been hyped (as well as the absence of a Iraq-al Qaeda link), we can return our attention to a rational benefit-cost assessment for the invasion and subsequent occupation, ex ante as well as (quasi) ex post.
Trade Deficit Watch: 2006q2
Stabilization in the non-oil trade balance arrives. What needs to happen for adjustment to continue without a recession?
The labor market and the incipient slowdown
Some other aspects of the employment release in context.
Net interest and factor payments in 2006q2
The message from yesterday’s NIPA release.
Heckuva job on Fiscal Policy!
Or, why I have to explain to my Money and Banking students that discretionary counter-cyclical fiscal policy is “off the table”.
How Mobile Is Capital Internationally?
The issue of international capital mobility comes up time and time again. There is the worry of capital and associated production capacity moving abroad to China for lower wage rates, and if not to China, to the rest of the world to escape environmental regulations or to avoid corporate taxation. So how mobile is capital?
Opportunity cost illustrated
On a one year anniversary, a look back to (one of the reasons) why the National Guard’s post-Katrina rescue and recovery efforts were hampered.
Does Manufacturing Matter? An Update
Manufacturing employment is down. So is the manufacturing share of output. And so is the estimated tradable share of output. Consequently, as the Economist noted recently, adjustment to a smaller current account deficit might be difficult.