We wish all our readers the best of everything this season.
Guest Contribution: “The Paris Agreement on Climate Change, C’est Bon”
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. An earlier version was published by Project Syndicate.
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Implementing monetary policy in 2016
On Wednesday the Federal Reserve announced that it is increasing its target for the fed funds rate to a new range of 25 to 50 basis points (0.25% to 0.5% annual rate). How does the Fed plan to accomplish this, and what does it mean for other interest rates?
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Guest Contribution: “U.S. Monetary Expectations and Emerging Market Debt Flows”
Today we are fortunate to have a guest post written by Eric Fischer, PhD candidate at the University of California, Santa Cruz.
Links for 2015-12-13
Quick links to a few items I found interesting.
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Guest Contribution: “Does legislating a rule for the Federal Reserve make sense?”
Today we are fortunate to have a guest contribution written by Carl E. Walsh, Distinguished Professor of Economics at the University of California, Santa Cruz.
Estimating Shock Dependent Exchange Rate Pass-Through
We propose a new focus: incorporating the underlying shocks that cause exchange rate fluctuations when evaluating how these fluctuations ‘pass through’ into import and consumer prices.
Mass Shooting Casualties, by Religion of Perpetrator: Muslim vs. Non-Muslim
Update, 6/12/2016, 4:15PM Pacific:
Here are two figures, with data updated to 6/12.
Figure 0a: 12 month moving average of mass shooting casualties; deaths inflicted by non-Muslims (dark red), wounded inflicted by non-Muslims (pink), deaths inflicted by Muslims (dark blue), wounded inflicted by Muslims (light blue). June observation for data through June 12. Source: Mother Jones, news reports for June 2016 and author’s calculations. Tabulations of religion of perpetrator by author.
Figure 0b: Cumulative sum of mass shooting casualties, beginning in 1982M08; deaths inflicted by non-Muslims (dark red), wounded inflicted by non-Muslims (pink), deaths inflicted by Muslims (dark blue), wounded inflicted by Muslims (light blue). June observation for data through June 12. Source: Mother Jones, news reports for June 2016 and author’s calculations. Tabulations of religion of perpetrator by author.
Factors in long-term unemployment
The BLS reported on Friday that the U.S. unemployment rate was down to 5% in October and November, its lowest level since 2008.
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NYT: “Donald Trump Calls for Barring Muslims From Entering U.S.”
That’s the headline from the NY Times. Given this development, I’m going to save Donald Trump some time in writing up the legislation. Here is some handy-dandy text borrowed from the Chinese Exclusion Act of 1882.