U.S. gasoline prices have been dropping and will likely fall further.
Net interest and factor payments in 2006q2
The message from yesterday’s NIPA release.
Inflation expectations
So where’s the surge in inflation expectations, now that the Fed has stopped tightening?
Heckuva job on Fiscal Policy!
Or, why I have to explain to my Money and Banking students that discretionary counter-cyclical fiscal policy is “off the table”.
More thoughts on the housing slowdown
How concerned should we be?
How Mobile Is Capital Internationally?
The issue of international capital mobility comes up time and time again. There is the worry of capital and associated production capacity moving abroad to China for lower wage rates, and if not to China, to the rest of the world to escape environmental regulations or to avoid corporate taxation. So how mobile is capital?
New home sales continue to fall
No question about it, the housing downturn is here now, and it’s big.
Opportunity cost illustrated
On a one year anniversary, a look back to (one of the reasons) why the National Guard’s post-Katrina rescue and recovery efforts were hampered.
Dating business cycle turning points
Thanks much to Menzie for holding down the fort while I was away last week. Now that I’m back, I’d like to weigh in on the issue of when did the recession of 2001 begin, a topic on which Menzie, Greg Mankiw, Steve Verdon, Michael Mandel, and Brad DeLong all commented last week.
Does Manufacturing Matter? An Update
Manufacturing employment is down. So is the manufacturing share of output. And so is the estimated tradable share of output. Consequently, as the Economist noted recently, adjustment to a smaller current account deficit might be difficult.