In Banking crises and political survival over the long run – why Great Expectations matter, Jeffrey Chwieroth and Andrew Walter argue that citizens have a) become more demanding of government since World War Two, and b) more unforgiving of governments unable … read more
The 7.5% US unemployment rate, at its lowest level since 2008, seems to be telling a story of slow-but-steady recovery after the Great Recession and Financial Crisis. Unfortunately, the bulk of evidence suggests the “real” jobless rate is far higher. … read more
Proponents of immigration reform are touting a Social Security Administration memo hinting that the reform package as a whole might cut the system’s long-term deficits. But let’s think about the amnesty provision on its own, in which current undocumented immigrants are made legal to work and collect benefits. How would that affect Social Security? read more
I wrote recently about the potential negative economic impact of a tax policy change under discussion in Israel: [S]ome Israeli politicians are seeking to increase a preferential corporate rate that benefits export-oriented businesses. To be sure, Israel must make difficult … read more
Anyone who doubts the power of the Bank of Japan’s printing press need only look at the spectacular fall of the Japanese yen over the past five months. Since Christmas day 2012, when Shinzo Abe, the new Japanese prime minister, … read more
Two takes on the same message: The New York Times: “Economists See Deficit Emphasis as Impeding Recovery” National Journal: “Who Says Fiscal Policy Is Hurting the Economy? (Almost) Everyone.” 1. This is a tale of two economies. The “G” in … read more
Social Security’s actuaries have released a preliminary analysis of how the immigration reform plan would affect the program’s finances. Advocates for the plan are touting it as helping save Social Security. Is that that whole story? 1. Why does immigration … read more
David Wessel had a great piece in the WSJ showing how G-20 leaders have changed their tune on austerity over the last five years: from bad (during the recession), to good (after the recession), to bad again (circa 2012). Thank … read more
The four-week average of jobless claims has now fallen back to where it was when the Great Recession started. Some smart comments from the econ team at Strategas Research: Initial jobless claims are a key, timely series to judge the … read more
On Earth-2, Election Night 2012 turned out to be a very near thing for the Romney campaign. What was supposed to be a comfortable victory turned into a nail biter. While the campaign team was overjoyed when that 270th electoral … read more
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