Bill Black: DSGE Dilettantes v. ADM God Devotees
Black shows how DSGE defenses fall apart, even as their backers lash out at critics.
Read more...Black shows how DSGE defenses fall apart, even as their backers lash out at critics.
Read more...Inequality isn’t driven by taxes—it’s driven by the power of capital in relation to workers.
Read more...The EU is still making a lot of noise to get the UK to begin to hear things the EU has been saying since the morning after the Brexit vote.
Read more...EA gives a downbeat forecast for oil prices in 2018.
Read more...The latest sighting on the student loan front is not pretty, and would be even uglier if the right metrics were used.
Read more...More discussion of the overhyped Brexit “breakthrough” of last Friday.
Read more...How critics of Hayek, like those of Marx, fixate on his politics and ignore his important economic insights.
Read more...The UK has managed show “sufficient progress” so as to be allowed to go to the\ next phase of Brexit talks. But what does that really mean?
Read more...A new study on automation suggests that even if the robots are coming for your job, they create even more jobs.
Read more...Trump’s antecedents in Eastern Europe show how widening inequality and failed economic promises pave the way for reactionary politics.
Read more...Debunking some of the claims of tax “reform” proponents, like that giving companies a tax break to repatriate profits will create jobs.
Read more...Puzzling over Japan’s super low unemployment with continued deflation.
Read more...A conservative analysis, incorporating the impact on value chains, estimates the UK will face a 4.7% GDP fall in a hard Brexit scenario.
Read more...Lambert here: “Natural” is indeed one of those words you should watch out for (like “we”). As in, for instance, “natural disaster.” And, of course, the Natural Rate of Unemployment (NAIRU). It’s often amusing to replace “natural” with “artificial”; generally there’s no loss of meaning, and often additional clarity is induced. By Edmund Phelps, the […]
Read more...Mario Draghi was governor of Italy’s central bank from 2005 to 2011, overseeing the now very sick banking system. Will his past haunt him?
Read more...