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Category Archives: Uncategorized
“A Closer Look at Japan’s Rising Consumption Tax”
That’s an important new Economic Brief by Thomas A. Lubik and Karl Rhodes of the Federal Reserve Bank of Richmond:
Japan plans to raise its national consumption tax next week from 8 percent to 10 percent. Some commentators and economists have blamed previous consumption tax increases for causing recessions in 1997 and 2014, but little statistical analysis has been published to support or refute such claims. This Economic Brief highlights new evidence that significant changes in Japan’s household consumption behavior did in fact coincide with the 1997 tax hike.
This issue is important as Japan is on the cusp of raising its consumption tax in just a few days.
An Event Study: Release of “Transcript” of Trump-Zelensky Call
Interesting to see how market prices (Will Donald Trump be impeached in his first term?) jumped, as of 8am Pacific today, as recorded by PredictIt:
PredictIt: “Will Donald Trump be impeached in his first term?”
PredictIt at 11am Pacific today:
Is California in Recession? (Part XVIII)
June employment figures are out. Time to re-evaluate this assessment from over one and a half years ago in Political Calculations that California was in recession.
Going by these [household survey based labor market] measures, it would appear that recession has arrived in California, which is partially borne out by state level GDP data from the U.S. Bureau of Economic Analysis. [text as accessed on 12/27/2017]
Now That We Are Winning, Where Is CoRev?
From Reuters today, “Hopes for trade breakthrough fade as China cancels U.S. farm visits”:
A U.S.-China trade deal appeared elusive on Friday after Chinese officials unexpectedly canceled a visit to farms in Montana and Nebraska amid two days of ongoing talks in Washington.
“Massive, rotting soybean pile still burns after catching fire in July”
Key Business Cycle Indicators, August 15th
Figure 1: Nonfarm payroll employment (blue), industrial production (red), personal income excluding transfers in Ch.2012$ (green), manufacturing and trade sales in Ch.2012$ (black), and monthly GDP in Ch.2012$ (pink bold), all log normalized to 2019M01=0. Source: BLS, Federal Reserve, BEA, via FRED, Macroeconomic Advisers (7/25 release), and author’s calculations.
10yr-3mo Spread Barely Budges as 10yr-2yr Approaches Zero
This despite Trump’s temporary delay on additional China tariffs.
The Journal of Economic Perspectives in the Classroom
A collection of JEP articles readers have cited as useful for instruction, by category: