That is to say, is Post-Modernist Macroeconomic Policy over?
From Postmodernism:
Hedge fund regulation
Fed Chair Ben Bernanke yesterday explained why he sees no need for increased regulation of hedge funds.
Are Democrats Truly More Protectionist? (Part II)
There was some disagreement with my assertion that Democrats were — effectively — not as protectionist as many have argued. Here are some more thoughts on the matter, as the Administration prepares the case for countervailing duties on Chinese imports [1].
More on Freddie Mac and Fannie Mae
More data, that is, and more questions.
Employment in March: Comparisons across Measures, Time, and Levels vs. Growth
The March employment figures have almost universally been hailed as evidence of a strong labor market, given how the announced value exceeded expectations, and the fact that previous months values were revised upward (WSJ1, WSJ2, Reuters, Bloomberg; contrarian opinion at Big Picture, Capital Spectator). (Jim Hamilton has already discussed how likely these figures are to be revised, in light of other complementary data.) Without disagreeing, I think it behooves us to consider other ways of looking at the data.
Exchange rate depreciation and expenditure switching in the United States
The IMF’s April 2007 World Economic Outlook has been released — or at least part of it. One chapter, entitled Exchange Rates and the adjustment of External Imbalances [pdf], deals with a subject close to my heart.
Strong March employment growth
The Bureau of Labor Statistics reported today that U.S. nonfarm payrolls, as measured by their survey of establishments, increased by a seasonally adjusted 180,000 workers in March.
Cantarell fading quickly
A big challenge for Mexico and the rest of us.
New study of the determinants of oil prices
Professor Lutz Kilian of the University of Michigan has an interesting new paper on the historical determinants of crude oil prices.
The Subprime collapse and the housing market: a bubble or “looting”
Jim Hamilton’s recent post “Bubble, bubble, toil, and trouble” elicited a tremendous amount of commentary — and incredulity — amongst the readers.