An Econometric Assessment of the World according to the American Legislative Exchange Council (ALEC)
China: The Stock Market Meltdown Continues
The stock market continued to decline today, despite vigorous efforts by the authorities. That being said, perspective is required.
Some Recent Research on Exchange Rates
Here is some interesting work I’ve seen recently in Paris and Cambridge, MA.
Ongoing Developments in China
While eyes are on developments in Greece (and rightly so), I thought it would be useful to spend a moment on the uncertainty regarding the Chinese economy’s course (not that I’m the first to point out).
We Don’t Need No Stinkin’ Open Records Laws (in Wisconsin)
Apparently, we don’t need taxes on tobacco products either! [And Republicans refuse to identify lawmaker behind measure restricting access to legislative records]
I guess William Cronon won’t have to worry any more about having his emails scoured by the Wisconsin GOP. From the Wisconsin State Journal:
Legislative Republicans on Thursday passed sweeping changes to the state’s open records law that would dramatically curtail the kind of information available to the public about the work that public officials do.
The International Aspects of the Employment Release
The headline number for nonfarm payroll employment was decent [1], and although there are worrisome aspects, I think the key take-away is the fact that manufacturing employment is slowing much more than overall. To the extent that manufactured goods proxies for tradables, I think caution is in order with respect to monetary tightening. And yet, I read headlines reporting that the “Fed is on track to raise rates…”[Sparshott/RTE WSJ].
Guest Contribution: “Macroeconomic Effects of High-Frequency Uncertainty Shocks”
Today, we are fortunate to have a guest contribution written by Laurent Ferrara (Banque de France and University Paris Ouest Nanterre La Défense) and Pierre Guérin (Bank of Canada). The views expressed here are those of the authors and do not necessarily represent those of the Banque de France or of the Bank of Canada.
Anil Kashyap on the Greek crisis
University of Chicago Professor Anil Kashyap has a helpful summary of the Greek financial crisis.
Our distant neighbors
There’ve been some stunning pictures recently sent back from distant parts of our solar system which I wanted to share.
Continue reading
And for Wisconsin’s Economic Outlook …
Over the last three months, there has been a substantial downshift in the level of economic activity and six-month forecasted growth, according to the Philadelphia Fed.