economic growth

Rising Inflation: The New Normal?

Union Budget- and Its promises February 3, 2021 The Economic TranscriptOriginal Article

Sunk Cost and Marginal Cost: Our Microwave

A few weeks ago our microwave went on the blink. It still worked but when we opened the microwave’s door, a fan immediately started up. The GE repairman showed up today. After examining it quickly, he was pretty sure he could fix it. But, he […]

Friedman’s smashing success

In the late 1940s, Milton Friedman was considered an important economist who had made significant technical contributions. At the beginning of the 1950s, however, he moved away from Keynesian economics and as a result was increasingly viewed as a bit of a nut. Two decades […]

Wisconsin Economic Activity in May

Employment numbers for May were released for today. Nonfarm payroll employment and the March 2021 Outlook forecast: Figure 1: Nonfarm payroll employment from April release (blue), forecast from March 2021 Economic Outlook (teal squares), all in 000’s, seasonally adjusted. Source: BLS, DWD, and Wisconsin Department […]

Open Borders on PBS

My interview on Open Borders aired last night on the PBS NewsHour. Check it out! Original Article

Bank Loan Frauds in India – WHY?

Union Budget- and Its promises February 3, 2021 The Economic TranscriptOriginal Article

Donald Shoup on the Economics of Parking

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Guest Contribution: “Globalisation and the Efficiency-Equity Trade-off”

Today we are pleased to present a guest contribution written by Roland Beck, Virginia di Nino and Livio Stracca (all at the European Central Bank). The views expressed belong to the authors and are not necessarily shared by the institutions to which the authors are […]

One Year CPI Inflation Expectations

The FOMC has upped its expectations of PCE inflation [Politico] [CR]. Here’s latest available CPI inflation expectations. Figure 1: CPI inflation year-on-year (black), median expected from Survey of Professional Forecasters (blue +), median expected from Michigan Survey of Consumers (red), median from NY Fed Survey […]

Business Cycle Indicators, Mid-June (and Retail Sales)

Industrial production was released yesterday, along with retail sales. Figure 1: Nonfarm payroll employment from May release (dark blue), Bloomberg consensus as of 6/16 for June nonfarm payroll employment (light blue +), industrial production (red), personal income excluding transfers in Ch.2012$ (green), manufacturing and trade […]