United States non-farm jobs fell by 95,000 jobs in September driven by a 159,000 loss of government jobs that was offset by a 64,000 gain in private sector payroll jobs. The government job losses resulted […]
Read moreMolly Clancy & Dan Hamilton In July we discussed the topic of Multiple-Equilibria in the United States economy. This blog is an update to that post, which can be found here. We argued there that […]
Read moreThe Los Angeles Times has an article today with the scare headline “$69 million in California welfare money drawn out of state.” This is the most recent of several of these types of articles, not […]
Read moreModern economic theory has come to think of important macro-economic events as caused by shocks. The types of shocks are usually organized into four broad categories: supply shocks, demand shocks, policy shocks, and bubbles/debt shocks. […]
Read moreWe have some economic news out today. 453,000 filed initial unemployment claims, and the second quarter GDP estimate is 1.7 percent growth. The news people are practically ecstatic over this, proclaiming it’s good news. The […]
Read moreI get the following question, or something like it all the time. This time it came by e-mail. I thought I’d post my response. Here’s the question: When looking at the economy, unemployment, and job […]
Read moreCalifornia has pending legislation, AB 2529, to require an economic impact analysis of proposed new regulation. Its opponents correctly point out that AB 2529 will delay and increase the cost of new regulation. There will […]
Read moreCalifornia’s unemployment rate edged up from 12.3 in July to 12.4 percent in August, the Employment Development Department reported today. This was driven more by changes in jobs, (losses), rather than changes in labor force. […]
Read moreThe Fed’s national wealth report for the second quarter is out today. For a New-Classical Macroeconomist, this is one of the most important data releases. Wealth is one of the most important theoretical drivers of […]
Read moreLast night we had a faculty meeting. One of the issues that came up was parking congestion. The University is growing, and this year there have been some problems finding parking spots. More parking was […]
Read moreHere‘s Bloomberg’s report on today’s data release. One paragraph has caused the Drudge Report to run the headline “GOV’T MAKES IT UP: JOB NUMBERS ‘ESTIMATED’ FOR WEEK…” (Caps by Drudge). Here’s the paragraph: For the […]
Read moreMankiw has a post on the administration’s proposed changes in the tax treatment of investment. As usual, he is right on. The proposed treatment amounts to a zero interest loan, at a time when interest […]
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