For a while, contagion had dropped off the (research) map. But it’s now back (thanks to Greece et al!), in both research and policy arenas. A new symposium published in Pacific Economic Review covers the topic.
Lessons from the Gulf Spill: Do’s and Don’ts
We’re pleased to feature another post from Steven Kopits of Douglas-Westwood, this time on lessons to be learned from the BP oil disaster.
Macro Advisers on Expiration of EGTRRA/JGTRRA
From Macroeconomic Advisers “The impact of sunset of tax cuts on GDP, employment, inflation & interest rates”, released today:
Let Bush Be Bush…on Taxes
Recall the 2001 and 2003 tax cuts were written to expire, for the most part, in FY2011. I wrote in February that one way to start fixing the Nation’s finances is to let the EGTRRA and JGTRRA expire as they were originally designed to. Via EconomistMom comes Bill Gale’s additional reasons why we should, despite the lackluster recovery [0] (more on that below).
Options for monetary stimulus
The latest economic data have surely warranted a downward revision in the Federal Reserve’s assessment of near-term economic performance. It therefore might be a good time to review the steps the Fed could take if it wishes to provide further economic stimulus.
The 10Q2 Advance GDP Release: Cautionary Notes from Revisions
The 2010Q2 advance GDP release has been covered by Jim, as well as others. [RTE/Izzo] [CEA] [FreeExchange/RA] [CR] [MA] The release was accompanied by an annual revision of data extending back to data for 2007Q1. This revision alters our understanding (or lack of understanding in the cases of certain people) of the evolution of this recession. Here are the points I gleaned.
About that recovery you ordered
“We have met the enemy and he is us,” Pogo used to say. Well, we’ve also now met the recovery, and he is ugly.
NOAA: Past Decade Warmest on Record
Conference: China in the Global Economy
Recently, I had the pleasure of participating in a CES-ifo workshop on “The Evolving Role of China in the Global Economy,” co-organized by Yin-Wong Cheung and Jakob de Haan. The conference agenda is here. The paper topics spanned issues ranging from monetary independence and integration into global financial markets, SOE access to credit and SOE efficiency, Chinese saving/consumption behavior, econometric models of China-global interactions, and the determinants of Chinese FDI in the rest-of-the-world.
More disappointing news
Just a quick note on a couple of new data releases today.