The effects on labor standards and trade
Today we are fortunate to have a guest contribution written by Isao Kamata, Assistant Professor of Public Affairs and Economics at the University of Wisconsin, Madison. This post is based upon this working paper; the paper also circulates as a Research Institute of Economy, Trade and Industry (RIETI) discussion paper.
Released today, available here.
Tensions between Russia and Ukraine have prompted some discussion of revisiting U.S. policy on exports of oil and natural gas.
Speaker of the House John Boehner (R-OH) last week called for faster Energy Department approval of facilities to export liquefied natural gas (LNG). Senator Lisa Murkowski (R-AK) called for lifting the ban on U.S. crude oil exports. Here I offer an assessment of these proposals.
Most accounts of inflation focus on national statistics. While the national series is still low, in some select locations, it’s even lower.
Accompanying the release of the President’s budget (link corrected 3/5 1:20) was the Administration’s forecasts, including forecasts of GDP. These forecasts are produced by the Troika (Treasury, CEA, OMB). Some observers have asked “Is the White House’s 3.1% growth forecast still too rosy?”. Time for some comparisons.
If a collapse in aggregate demand is not at fault, then was an aggregate supply shift? A quick-and-dirty evaluation using some back-of-the-envelope calculations
Updated 3/4 5PM
Here are some immediate consequences of Russia’s intervention in the Ukraine. From Reuters:
I was in New York on Friday attending the U.S. Monetary Policy Forum. One of the sessions was on how central banks could better communicate their plans for using unconventional monetary policy. Federal Reserve Bank of Chicago President Charles Evans presented some very interesting ideas.
OK, nothing about birthers, but some comments on truths held deeply, but unjustifiably, by certain types of people.
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. He is currently a member of the National Bureau of Economic Research (NBER) Business Cycle Dating Committee.