Carmen Reinhart and Kenneth Rogoff have posted an open letter to Paul Krugman to try to correct some of the misrepresentations of their scholarship that continue to be repeated by people who should know better.
Wisconsin Employment Situation in April
Newly released BLS data indicate an absence of strong employment growth.
Bernanke says no change for now
In testimony before Congress today, Bernanke explained why the Fed’s large-scale asset purchases are continuing.
Are There Reasonable Approaches to Fiscal Consolidation?
According to the CBO, under the President’s budget, the deficit hovers around 2% of GDP, and debt-to-GDP stabilizes through 2023 at levels lower than today’s.
Koch’s Coke
…in Detroit
Here is striking photo of a pile of by-product of processing Canadian tar sands oil, from NY Times:
Sovereign debt concerns in 2013
Interest rates on government debt for a number of European countries– notably Greece, Portugal, Ireland, Italy, and Spain– shot up considerably during 2010-2012. Those yields have fallen significantly from their peaks, though these five countries still face higher borrowing costs than most other countries in Europe.
George Akerlof on the Response to the Financial Crisis and Great Recession
In a blogpost taking stock of the IMF conference on lessons from the crisis, the Nobel laureate distills the lessons learned.
Crowding Out Watch, Heritage Edition
The Heritage Foundation’s Salim Furth writes:
How Fannie Mae made its profit
Mortgage buyer and insurer Fannie Mae was in the news again this week.
The Multiplier in Action
The impact of contractionary fiscal policies, from NY Times, based on Moody’s Analytics estimates.