As of September 4th, enhanced unemployment benefits were ended in Wisconsin. What do the latest data reveal?
Category Archives: Uncategorized
Supply Chain Delays – Supply or Demand
As has been noted, the surge in goods demand is part of the story for why shortages and price pressures have mounted. Here’s another illustration.
Some Useful Terms in Economics
There are some terms used on this blog that provoke some confusion. Here are some quick definitions that might help some readers.
Anti-Elitism or Anti-Other-ism?
Econbrowser reader Manfred, in responding to my critique of the late Mr. Limbaugh’s use (or non-use) of statistics, writes of me:
…you had access to schools that many others in the US do not…
Economists Stereotypes
Econbrowser reader sammy claims:
1) Economists have limited exposure to the real world
2) Economists extrapolate off last period statistics, which are much more imprecise than they acknowledge
3) Economists are ideological and can torture statistics to reach the desired outcome
Long-lived Negative Consequences of Steel Tariffs
(not in 2018, but in 2002-03):
DNI: “Updated Assessment on Covid-19 Origins
From the declassified (10/29) report (noted in this LA Times article):
Nowcasts and Nowcasts, on the Eve of the Q3 Release
ZeroHedge breathlessly announces “Atlanta Fed Says US Economy Suddenly On Verge Of Contraction”. The title is numerically correct, and the article actually provides more context than usual. However, for perspective, I think it’s of interest to see what other organizations are nowcasting.
IMF: “Recovery During a Pandemic”
The IMF’s October 2021 World Economic Outlook forecasts are out.
Measured Inflation in August
A CNN headline notes “A key measure of inflation surged to a new 30-year high”, with that key inflation measure being the year-on-year (y/y) personal consumption expenditure (PCE) inflation, very similar to a headline a month ago. But in any case, by focusing on the y/y rate, they missed the main message In today’s release — that month-on-month (m/m) annualized PCE inflation was down from March peak, from 7% to 4% (and roughly the same as in July). Moreover, the core counterpart was also down from the April peak, from 7.7% to 4.1% (3.6% y/y hitting the Bloomberg consensus on the nose, and a little higher than m/m consensus.)