The Denver Post reported the opening on Saturday of stations offering compressed natural gas to drivers in Grand Junction and Rifle, towns along Interstate 70 in western Colorado, making it possible to drive a vehicle fueled by compressed natural gas from Denver to Los Angeles.
2011 Econbrowser NCAA tournament challenge winner
Congratulations to (1) the University of Connecticut, 2011 NCAA men’s basketball champion, and (2) A. Chaves, who, in part because he or she successfully predicted (1), is winner of this year’s world-famous Econbrowser NCAA tournament challenge.
And condolences to most of the rest of us, who messed up pretty badly with our predictions. Not that I wouldn’t have made pretty much the same calls if the same teams were to play again.
Gains and Losses from Trade with China
From the conclusion to a provocative paper by David Autor, David Dorn, and Gordon Hanson, entitled The China Syndrome: Local Labor Market Effects of Import Competition in the United States:
our study suggests that the rapid increase in U.S. imports of Chinese goods during the
past two decades has had a substantial impact on employment and household incomes, benefits
program enrollments, and transfer payments in local labor markets exposed to increased import
competition. These effects extend far outside the manufacturing sector, and they imply substantial
changes in worker and household welfare.
More favorable developments
Last week’s new economic data began with a personal income and outlays report which suggested slower consumption growth. But the numbers released Friday are a little more encouraging.
The March Employment Situation Release
From Reuters:
U.S. employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8 percent, underscoring a decisive shift in the labor market that should help to underpin the economic recovery.
Dispatches (XI): Walker Administration Interprets the Law
With update, wherein the Walker Administration complies with the third temporary restraining order.
From the Wisconsin State Journal:
State officials say they will move forward with Wisconsin’s controversial collective bargaining law, despite a judge’s order barring its implementation — and a threat of sanctions against anyone who violates it.
Exports, Growth Prospects and Rebalancing
Exports in Context
Anybody who follows forecasts of GDP growth for 2011Q1 will notice that over time, estimates have been revised down (this is true for Macroeconomic Advisers, for instance). The dimmed prospects for GDP growth throws in high relief the importance of net exports. From the WSJ, “Foreign Shocks Temper America’s Export-Led Rebound”:
Consumption spending slowing down
Guess what: rising energy prices are taking a toll on consumers.
Update on Japan
A few quick links:
- Toll of dead and missing is in the tens of thousands, with hundreds of thousands still in temporary shelters.
- Dangerous reactor situation persists as evacuation area broadened.
- Automakers face supply problems.
- Impressive photos of rapid road repair.
- Hideaki Akaiwa: a hero’s epic told in a modern style.
Bloggers Beware! (If You Work at a State University in Wisconsin)
From The Milwaukee Journal Sentinel:
The Republican Party of Wisconsin has made an open records request for the emails of a University of Wisconsin professor of history, geography and environmental studies in an apparent response to a blog post the professor wrote about a group called the American Legislative Exchange Council (ALEC).