BLS reports nonfarm payroll employment up by 192 thousand, and prior months revised up.
The Ryan Plan: Assume a Can Opener, Yet Again
(The can opener reference can be understood by clicking here)
The budget proposed by Representative Ryan touts the pro-growth impacts of deficit reduction ($5.1 trillion over ten years, according to Table S-2). It is instructive to actually read the documents that Representative Ryan’s budget cites (as it has in the past — read about the Heritage CDA previous assessments [1] [2], as well as Representative Ryan’s previous attempt to use CBO documents to lend a patina of respectability to his projections).
Guest Contribution: “Commodity-Price Comovement and Global Economic Activity”
Today we are fortunate to have a guest contribution by Ron Alquist, Policy Adviser at the Bank of Canada, and Olivier Coibion, Assistant Professor at the University of Texas, Austin. The views expressed here are those of the authors and should not be interpreted as representing the views of the Bank of Canada or any other institution with which the authors are affiliated.
Revised and Updated Data Indicate Minnesota-Wisconsin Economic Activity Gap Increases
Philadelphia Fed revised coincident indices released today show the cumulative Minnesota-Wisconsin gap (since January 2011) has grown to 2.3% (as of February, in log terms).
Data Paranoia Watch: ACA Edition
Senator Barraso (Republican-Wyoming) follows in the fine tradition of Allen West in charging a conspiracy so vast…
Tight oil making a difference
Oil produced from tight formations in the United States inaccessible before the days of horizontal fracturing is now accounting for 4.3% of total global crude oil production, according to new estimates released by the EIA last week.
Faith and Econometrics: Minimum Wage Edition
Why bother with econometrics when revealed truth will do?
Some Macro Implications of a Minimum Wage Hike
With updates on the econometric debates on effects, and efficacy in targeting low income groups (3/30)
Minimal employment number impacts and minimal inflation impacts. But I am sure the resistance to having a greater share of income going to labor will continue.
Russia to Recession?
From Reuters:
Russia is at risk of recession as investors pull money out of the country, with growth likely to evaporate if capital outflows reach $100 billion, the head of its largest bank, state-owned Sberbank, said on Monday.
Graphs of key economic trends
Here are some graphs of economic data that illustrate some interesting trends.