Kevin D. Hoover, Applied Intermediate Macroeconomics. Cambridge University Press, ©2012 Current Topics Articles and analysis relevant to macroeconomics from a variety of points of view. 2/4/14 Free exchange: The price of getting back to work: Inflation may help determine how fast labour markets recover from recession 1/11/14 Free exchange: This time is worse: Leading American economists argue that desperate times call for desperate measures. 12/23/13 Mary C. Daly, John Fernald, Òscar Jordà, and Fernanda Nechio: Labor Markets in the Global Financial Crisis 12/9/13 Yifan Cao and Adam Hale Shapiro: Why Do Measures of Inflation Disagree? 11/25/13 Bharat Trehan and Maura Lynch: Consumer Inflation Views in Three Countries 11/18/13 Michael D. Bauer and Glenn D. Rudebusch: Expectations for Monetary Policy Liftoff 10/15/13 Mary C. Daly, Bart Hobijn, and Benjamin Bradshaw: Gauging the Momentum of the Labor Recovery 10/5/13 The Economist "Schools Brief": Making banks safe: Calling to accounts: The final article in our series on the financial crisis examines the best way to make banks safer without killing lending 9/30/13 Eric Swanson: The Zero Lower Bound and Longer-Term Yields 9/28/13 The Economist "Schools Brief": Stimulus v austerity: Sovereign doubts: The fourth in our series of articles on the financial crisis looks at the surge in public debt it prompted, and the debate about how quickly governments should cut back 9/21/13 The Economist "Schools Brief": Monetary policy after the crash: Controlling interest: The third of our series of articles on the financial crisis looks at the unconventional methods central bankers have adopted to stimulate growth in its wake 9/14/13 The Economist "Schools Brief": The dangers of debt: Lending weight: The second in our series of articles on the financial crisis looks at the role debt and deleveraging have played in the turmoil 9/7/13 The Economist "Schools Brief": The origins of the financial crisis: Crash course: The effects of the financial crisis are still being felt, five years on. This article, the first of a series of five on the lessons of the upheaval, looks at its causes 8/26/13 Rob Valletta and Leila Bengali: What’s Behind the Increase in Part-Time Work? 8/12/13 Vasco Cúrdia and Andrea Ferrero: How Stimulatory Are Large-Scale Asset Purchases? 6/6/13 Paul Krugman: How the Case for Austerity Has Crumbled 5/27/13 Osagie Imasogie and Thaddeus J. Koblarz: Yes, Lady Gaga's Songs Contribute to GDP: The new measure of the economy's output reflects the importance of intellectual property. 5/30/13 David Malpass: Fed Policy Is a Drag on Recovery : The stock market is soaring. Yet real median income has fallen 5%, unheard of for a recovery. 5/13/13 Leila Bengali, Mary Daly, and Rob Valletta: Will Labor Force Participation Bounce Back? 5/6/13 Early Elias and Òscar Jordà: Crises Before and After the Creation of the Fed 4/29/13 Bill McNabb: Uncertainty Is the Enemy of Recovery: At Vanguard, we estimate that policy uncertainty has created a $261 billion drag on the U.S. economy. 4/20/13 Free exchange: The 90% question: A seminal analysis of the relationship between debt and growth comes under attack 4/14/13 Edward Lazear: Beware the Monthly Jobs-Report Chatter: The initial reports are often inaccurate and don't say anything useful about where the economy is heading. 4/1/13 Reuven Glick and Sylvain Leduc: Unconventional Monetary Policy and the Dollar 4/29/13 Bill McNabb: Uncertainty Is the Enemy of Recovery: At Vanguard, we estimate that policy uncertainty has created a $261 billion drag on the U.S. economy. 3/23/13 Holman Jenkins: Sympathy for the Devil Named Angela: Economic reality is not optional. But neither is politics. 3/21/13 Free exchange: Where did everyone go? Demography may explain the weakness of America’s recovery 3/12/13 Alan Blinder: Easing the Angst About Fed Easing: By paying less interest on excess bank reserves, the Federal Reserve would reduce its liabilities. Then it could sell an equal amount of assets. 3/4/13 Michael Boskin: Larger Spending Cuts Would Help the Economy: Countries that stabilized their budgets have averaged $5-$6 of actual spending cuts per dollar of tax hikes. 3/2/13 Christina Romer: Economic View: The Business of the Minimum Wage 2/15/13 Free Exchange: Labour markets: Minimum human wages 2/4/13 Long-term Unemployment: What Do We Know? 1/29/13 John Taylor: Fed Policy Is a Drag on the Economy: While borrowers like near-zero interest rates, there is little incentive for lenders to extend credit at that rate. 1/13/13 Free exchange: Room with a view:If economists agree on something, the public will almost certainly think differently 1/8/13 Edward Lazear: Chinese 'Currency Manipulation' Is Not the Problem: An analysis of trade patterns with the U.S. and Europe shows that the yuan's value has not affected the numbers. 12/24/12 Monetary Policy and Interest Rate Uncertainty 12/17/12 Will the Jobless Rate Drop Take a Break? 11/24/12 Free exchange: The argument in the floor: Evidence is mounting that moderate minimum wages can do more good than harm 11/13/12 The Federal Reserve's Unconventional Policies 10/15/12 Is China Due for a Slowdown? 10/10/12 Putting Fiscal Policies Under the Microscope 9/27/12 George Soros: The Tragedy of the European Union and How to Resolve It 9/27/12 China's Lost Decade 9/24/12 The Financial Crisis and Inflation Expectations 9/17/12 Uncertainty, Unemployment, and Inflation 9/17/12 The Magnitude of the Mess We're In: The next Treasury secretary will confront problems so daunting that even Alexander Hamilton would have trouble preserving the full faith and credit of the United States. 9/11/12 The Hidden Costs of Monetary Easing: Inflation is not the only danger posed by the central bank's ballooning balance sheet. 9/9/12 Economic View: Cutting the Deficit, With Compassion 9/8-9/12 Those Jobless Numbers Are Even Worse Than They Look: Still above 8%—and closer to 19% in a truer accounting. Here's a plan for improvement. 9/8/12 Free exchange: The mystery of Jackson Hole: Central bankers wonder why success eludes them 9/3/12 There Is No 'Structural' Unemployment Problem: A look at the skills-jobs mismatch finds no evidence that changes in the economy explain high joblessness. The problem is slow growth. 8/20/12 Consumer Debt and the Economic Recovery 8/18/12 On the origin of specie: Theories on where money comes from say something about where the dollar and euro will go 8/13/12 Asia’s Role in the Post-Crisis Global Economy 7/16/12 The Tax Cliff Is a Growth Killer: No matter what happens from now on, 2013 will be a very tough year. 7/14/12 Quantitative Easing: QE, or not QE? An Assessment of the Most Controversial Weapon in the Central Banker's Armoury 7/2/12 US Fiscal Policy Headwind or Tailwind? 6/30/12 Monetary Policy, Money, and Inflation 6/25/12 Housing Bubbles and Homeownership Returns 6/16/12 Economic Epidemiology: Predicting Financial Contagion 6/11/12 Structural and Cyclical Economic Factors 5/24/12 How to End This Depression 5/21/12 Fed Asset Buying and Private Borrowing Rates 5/14/12 Liquidity Risk and Credit in the Financial Crisis 5/7/12 Commodity Prices and PCE Inflation 4/30/12 Worker Skills and Job Quality 4/16/12 Credit: A Starring Role in the Downturn 4/9/12 The Slow Recovery: It’s Not Just Housing 4/2/12 Why Has Wage Growth Stayed Strong? March/April 2012 Many Moving Parts: The Latest Look Inside the U.S. Labor Market March/April 2012 The Dual Mandate: Has the Fed Changed Its Objective 3/17/12 High-tech Sweden edges closer to becoming cashless society 3/17/12 The American economy: Unmired at last: America’s recovery is neither robust nor dramatic. But it is real 3/10/12 Oil and the world economy: The new grease? How to assess the risks of a 2012 oil shock 3/10/12 Bond shelter: America’s ability to issue debt is helped by a resemblance between Treasuries and money 2/27/12 U.S. and Euro-Area Monetary Policy by Regions 2/11/12 Keep on trucking: Why the old should not make way for the young 2/11/12 Go for the churn: The number of job-to-job moves by American workers tells a bleak story 2/6/12 Government Spending: An Economic Boost? 2/3/12 An American History Lesson for Europe: Our federal government refused to bail out the states in the 1840s, thus preserving their fiscal independence. 1/30/12 Why Is Unemployment Duration So Long? 1/21/12 A Better Tax System (Assembly Instructions Included) 1/21/12 The hangover: America is recovering from the debt bust faster than European countries. Why? 1/17/12 The Federal Reserve and the Economic Recovery 1/4/12 Will Republicans Hand the Left a VAT Victory? Mitt Romney won't rule out the possibility of imposing a tax that's the fast track to a European welfare state 1/3/12 The Rise of Consumption Equality: Getting Rich Requires Serving a Mass Market, Which Means the Rest of Us Can Buy What the Rich Buy 1/1/12 I Just Got Here, but I Know Trouble When I See It: From Six Economists, Six Ways to Confront 2012 12/31/11 Heterodox economics: Marginal revolutionaries: The crisis and the blogosphere have opened mainstream economics up to new attack 12/21/11 Want Growth? Try Stable Tax Policy: The Payroll Tax Cut is One of 84 Tax Provisions Expiring This Year, 10 Times as Many as Expired in 1999 12/13/11 The The Euro Zone's German Crisis Blame Teutonic Efficiency for What Ails Europe. The Other Countries Just Can't Compete 12/5/11 Asset Price Booms and Current Account Deficits 11/26/11 Beware of Falling Masonry: The Crisis in the Euro Area is Turning into a Panic and Dragging the Zone into Recession. The Risk that the Currency Disintegrates within Weeks is Alarmingly High 11/26/11 Is This Really The End? Unless Germany and the ECB Move Quickly, the Single Currency's Collapse is Looming 11/26/11 House of Horrors, Part 2: The Bursting of the Global Housing Bubble is Only Halfway Through 11/21/11 Signals from Unconventional Monetary Policy 11/19/11 Marathon Man: Unskilled Workers are Struggling to Keep Up with Technological Change 11/14/11 Future Recession Risks: Update 11/12/11 Staring Into the Abyss: The Euro Crisis Might Wagke Europe Up. But More Likely . . . It Will Lead to Compromise and Decline 11/12/11 Exports to Mars: Official Statistics Probably Exaggerate Global Current- Account Imbalances 11/7/11 What Moves the Interest Rate Term Structure? 10/18/11 Reducing the Federal Deficit: Approaches in Some Other Countries 10/3/11 Unconventional Monetary Policy: Lessons from the Past Three Years September 2011 The Net Fiscal Expenditure in the US, 2008-9: Less than What You Might Think, and Less than the Fiscal Stimuli of Most OECD Countries September 2011 What's an $800 billion Stimulus Worth? 9/28/11 Ben Bernanke Deserves a Break: The Fed chief pulled off a sleeper version of QE3 despite opposition at the central bank and Congress 9/27/11 This Time May Not Be That Different: Labor Markets, the Great Recession and the (Not So Great) Recovery 9/10/11 The Celestial Economy: By 2030 China’s Economy Could Loom as Large as Britain’s in the 1870s or America’s in the 1970s Fall 2011 Inflation and Debt September 2011 Job Losses in the Great Recession 9/17/11 Prices or Jobs? Could the Federal Reserve Lower Unemployment by Revamping Its Goals 8/31/11 Credit Flows to Businesses During the Great Recession 8/6/11 The Simon-Ehrlich Bet Over Natural Resource Shortages Revisited 8/1/11 Does Headline Inflation Converge to Core? July/August 2011 Measuring Inflation: The Core is Rotten 7/28/11 Currency comparisons, to go: A beefed-up version of the Big Mac index suggests that the Chinese yuan is now close to its fair value against the dollar 7/11/11 Gauging the Impact of the Great Recession 6/29/11 Labor Market Rigidity, Unemployment, and the Great Recession 6/20/11 TIPS Liquidity, Breakeven Inflation, and Inflation Expectations 6/13/11 Monetary Policy When One Size Does Not Fit All 6/6/11 Economics Instruction and the Brave New World of Monetary Policy 5/23/11 Household Inflation Expectations and the Price of Oil: It's Deja Vu All Over Again 5/16/11 What is the Value of Bank Output? 4/18/11 Has the Treasury Benefited from Issuing TIPS? 4/11/11 The Fed's Interest Rate Risk 4/4/11 Are Large Scale Asset Purchases Fueling the Rise in Commodity Prices?
Current Topics
Articles and analysis relevant to macroeconomics from a variety of points of view.
2/4/14 Free exchange: The price of getting back to work: Inflation may help determine how
fast labour markets recover from recession
1/11/14 Free exchange: This time is worse: Leading American economists argue that desperate
times call for desperate measures.
12/23/13 Mary C. Daly, John Fernald, Òscar Jordà, and Fernanda Nechio: Labor Markets in the Global
Financial Crisis
10/15/13 Mary C. Daly, Bart Hobijn, and Benjamin Bradshaw: Gauging the Momentum of
the Labor Recovery
10/5/13 The Economist "Schools Brief": Making banks safe: Calling to accounts:
The final article in our series on the financial crisis examines the best way to make banks
safer without killing lending
9/28/13 The Economist "Schools Brief": Stimulus v austerity: Sovereign doubts:
The fourth in our series of articles on the financial crisis looks at the surge in public
debt it prompted, and the debate about how quickly governments should cut back
9/21/13 The Economist "Schools Brief": Monetary policy after the crash: Controlling interest:
The third of our series of articles on the financial crisis looks at the unconventional
methods central bankers have adopted to stimulate growth in its wake
9/14/13 The Economist "Schools Brief": The dangers of debt: Lending weight:
The second in our series of articles on the financial crisis looks at the role debt and
deleveraging have played in the turmoil
9/7/13 The Economist "Schools Brief": The origins of the financial crisis: Crash course:
The effects of the financial crisis are still being felt, five years on.
This article, the first of a series of five on the lessons of the upheaval, looks at its causes
5/27/13 Osagie Imasogie and Thaddeus J. Koblarz: Yes, Lady Gaga's Songs Contribute to GDP:
The new measure of the economy's output reflects the importance of intellectual property.
5/30/13 David Malpass: Fed Policy Is a Drag on Recovery : The stock market is soaring. Yet
real median income has fallen 5%, unheard of for a recovery.
5/13/13 Leila Bengali, Mary Daly, and Rob Valletta: Will Labor Force Participation Bounce Back?
4/29/13 Bill McNabb: Uncertainty Is the Enemy of Recovery: At Vanguard, we estimate that
policy uncertainty has created a $261 billion drag on the U.S. economy.
4/20/13 Free exchange: The 90% question: A seminal analysis of the relationship between
debt and growth comes under attack
4/14/13 Edward Lazear: Beware the Monthly Jobs-Report Chatter: The initial reports are often
inaccurate and don't say anything useful about where the economy is heading.
3/23/13 Holman Jenkins: Sympathy for the Devil Named Angela: Economic reality is not optional.
But neither is politics.
3/21/13 Free exchange: Where did everyone go? Demography may explain the weakness of
America’s recovery
3/12/13 Alan Blinder: Easing the Angst About Fed Easing: By paying less interest on excess bank
reserves, the Federal Reserve would reduce its liabilities. Then it could sell an
equal amount of assets.
3/4/13 Michael Boskin: Larger Spending Cuts Would Help the Economy: Countries that stabilized their
budgets have averaged $5-$6 of actual spending cuts per dollar of tax hikes.
1/29/13 John Taylor: Fed Policy Is a Drag on the Economy: While borrowers like near-zero interest rates,
there is little incentive for lenders to extend credit at that rate.
1/13/13 Free exchange: Room with a view:If economists agree on something, the public will almost
certainly think differently
1/8/13 Edward Lazear: Chinese 'Currency Manipulation' Is Not the Problem: An analysis of trade
patterns with the U.S. and Europe shows that the yuan's value has not affected the numbers.
11/24/12 Free exchange: The argument in the floor: Evidence is mounting that moderate minimum
wages can do more good than harm
9/17/12 The Magnitude of the Mess We're In: The next Treasury secretary will confront problems
so daunting that even Alexander Hamilton would have trouble preserving the full faith and
credit of the United States.
9/11/12 The Hidden Costs of Monetary Easing: Inflation is not the only danger posed by
the central bank's ballooning balance sheet.
9/8-9/12 Those Jobless Numbers Are Even Worse Than They Look: Still above 8%—and
closer to 19% in a truer accounting. Here's a plan for improvement.
9/3/12 There Is No 'Structural' Unemployment Problem: A look at the skills-jobs mismatch finds
no evidence that changes in the economy explain high joblessness. The problem is slow growth.
8/18/12 On the origin of specie: Theories on where money comes from say something about where the
dollar and euro will go
7/16/12 The Tax Cliff Is a Growth Killer: No matter what happens from now on, 2013 will be a very
tough year.
7/14/12 Quantitative Easing: QE, or not QE? An Assessment of the Most Controversial Weapon in the
Central Banker's Armoury
3/17/12 The American economy: Unmired at last: America’s recovery is neither robust nor dramatic.
But it is real
3/10/12 Bond shelter: America’s ability to issue debt is helped by a resemblance between Treasuries
and money
2/11/12 Go for the churn: The number of job-to-job moves by American workers
tells a bleak story
2/3/12 An American History Lesson for Europe: Our federal government refused to
bail out the states in the 1840s, thus preserving their fiscal independence.
1/21/12 The hangover: America is recovering from the debt bust faster than
European countries. Why?
1/4/12 Will Republicans Hand the Left a VAT Victory? Mitt Romney won't rule out
the possibility of imposing a tax that's the fast track to a European welfare
state
1/3/12 The Rise of Consumption Equality: Getting Rich Requires Serving a Mass
Market, Which Means the Rest of Us Can Buy What the Rich Buy
1/1/12 I Just Got Here, but I Know Trouble When I See It: From Six Economists,
Six Ways to Confront 2012
12/31/11 Heterodox economics: Marginal revolutionaries: The crisis and the
blogosphere have opened mainstream economics up to new attack
12/21/11 Want Growth? Try Stable Tax Policy: The Payroll Tax Cut is One of 84
Tax Provisions Expiring This Year, 10 Times as Many as Expired in
1999
12/13/11 The The Euro Zone's German Crisis Blame Teutonic Efficiency for What
Ails Europe. The Other Countries Just Can't Compete
11/26/11 Beware of Falling Masonry: The Crisis in the Euro Area is Turning into a
Panic and Dragging the Zone into Recession. The Risk that the Currency
Disintegrates within Weeks is Alarmingly High
11/26/11 Is This Really The End? Unless Germany and the ECB Move Quickly, the
Single Currency's Collapse is Looming
11/26/11 House of Horrors, Part 2: The Bursting of the Global Housing Bubble is
Only Halfway Through
11/19/11 Marathon Man: Unskilled Workers are Struggling to Keep Up with
Technological Change
11/12/11 Staring Into the Abyss: The Euro Crisis Might Wagke Europe Up. But
More Likely . . . It Will Lead to Compromise and Decline
11/12/11 Exports to Mars: Official Statistics Probably Exaggerate Global Current-
Account Imbalances
September 2011 The Net Fiscal Expenditure in the US, 2008-9: Less than What
You Might Think, and Less than the Fiscal Stimuli of Most OECD
Countries
9/28/11 Ben Bernanke Deserves a Break: The Fed chief pulled off a sleeper
version of QE3 despite opposition at the central bank and Congress
9/27/11 This Time May Not Be That Different: Labor Markets, the Great
Recession and the (Not So Great) Recovery
9/10/11 The Celestial Economy: By 2030 China’s Economy Could Loom as
Large as Britain’s in the 1870s or America’s in the 1970s
9/17/11 Prices or Jobs? Could the Federal Reserve Lower Unemployment by
Revamping Its Goals
7/28/11 Currency comparisons, to go: A beefed-up version of the Big Mac index
suggests that the Chinese yuan is now close to its fair value against
the dollar
5/23/11 Household Inflation Expectations and the Price of Oil: It's Deja Vu All
Over Again
4/18/11 Has the Treasury Benefited from Issuing TIPS?
4/4/11 Are Large Scale Asset Purchases Fueling the Rise in Commodity Prices?