What do current financial indicators tell us about where the economy is headed?
Category Archives: recession
Real Wage Decline Ended the 1981-82 Recession?
David Henderson writes in his “Reply to DeLong”:
In the 1981-82 recession, the fall in real wages helped end the recession.
I don’t see it in BLS series Nonfarm Business Sector: Real Compensation Per Hour.
John Cochrane on the credit crisis
University of Chicago Professor John Cochrane (hat tip: Capital Spectator) has an interesting analysis of the causes of the financial problems of the last few years.
Strong GDP growth with weak fundamentals
The Bureau of Economic Analysis reported today that the seasonally adjusted real value of the nation’s production of goods and services grew at a 5.7% annual rate during the fourth quarter. That’s great news, but…
More of the same
The U.S. economy continues to recover at a painfully slow pace.
What went wrong and how can we fix it?
That’s the title of an article I wrote for the UCSD Economics Department’s Economics in Action, which I reproduce below.
Teaching Macro, after the Great Recession
Or, How to adapt the intermediate macro syllabus to an altered world
This semester is the first time I’ve taught intermediate macroeconomics link in over two years. The last time I taught this course in the Spring of 2007, the key topics were inflation, the possibility of stagflation, and the possibility of containing the ongoing housing slowdown.
Politico American Spectator’s Joseph Lawler Goes Nihilist
Be afraid, be very afraid…again. From Joseph Lawler
… I take yesterday’s CBO report as affirmation both that … the number of jobs created by the stimulus cannot be determined without making judgment calls about the underlying economic model …
Anemic recovery
Recent indictors continue to support the impression that we’re in the midst of a weak economic recovery.