Links (5/16/19)


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  • There’s a revealing puzzle in the China tariffs – Larry Summers On Monday, China announced new tariffs on $60 billion of U.S. exports, and the United States threatened new tariffs on up to $300 billion of Chinese goods. These actions were cited as the principle reason for a decline of more than 600 points in the Dow Jones industrial average, or about 2.4 percent in broader measures of the stock market. With the total value of U.S. stocks around $30 trillion, this decline represents more than $700 billion in lost wealth. This was not an isolated event. Again and again in the past year, markets have gyrated in response to the state of trade negotiations between the United States and China. The market sensitivity to threats and counter-threats in the trade war is quite remarkable. Monday’s announcement by the Chinese, for example, would be expected to raise

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Links (5/13/19)


This post is by Ted Allrich from Economist's View


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  • Evolution or revolution: An afterword – Blanchard and Summers The changes in macroeconomic thinking prompted by the Great Depression and the Great Inflation of the 1970s were much more dramatic than have yet occurred in response to the events of the last decade. This column argues that this gap is likely to close in the next few years as a combination of low neutral rates, the re-emergence of fiscal policy as a primary stabilisation tool, difficulties in hitting inflation targets, and the financial ramifications of a low-rate environment lead to important changes in our understanding of the macroeconomy and in policy judgements about how to achieve the best performance.
  • Killing the Pax Americana – Paul Krugman O.K., they weren’t supposed to start the trade war until I got back from vacation. And I really have too many kilometers to cover and hills to climb to weigh in on

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Links (5/10/19)


This post is by Ted Allrich from Economist's View


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  • Trump Is Terrible for Rural America – Paul Krugman Economists, reports Politico, are fleeing the Agriculture Department’s Economic Research Service. Six of them resigned on a single day last month. The reason? They are feeling persecuted for publishing reports that shed an unflattering light on Trump policies. But these reports are just reflecting reality (which has a well-known anti-Trump bias). Rural America is a key part of Donald Trump’s base. In fact, rural areas are the only parts of the country in which Trump has a net positive approval rating. But they’re also the biggest losers under his policies. What, after all, is Trumpism? …
  • No Moore golden era for US monetary policy – VoxEU Stephen Moore, President Trump’s pick for the Federal Reserve Board, has been pro-cyclical in his recommendations for monetary policy, opposing stimulus when the economy needed it and favouring stimulus when the economy did not. This column

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Links (5/8/19)


This post is by Ted Allrich from Economist's View


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  • An Industrial Policy for Good Jobs – Dani Rodrik & Charles Sabel So-called productive dualism is driving many contemporary ills in developed and developing countries alike: rising inequality and exclusion, loss of trust in governing elites, and growing electoral support for authoritarian populists. But much of the policy discussion today focuses on solutions that miss the true source of the problem.
  • Competitive Edge: Principles and presumptions for U.S. vertical merger enforcement policy – Equitable Growth Antitrust and competition issues are receiving renewed interest, and for good reason. So far, the discussion has occurred at a high level of generality. To address important specific antitrust enforcement and competition issues, the Washington Center for Equitable Growth has launched this blog, which we call “Competitive Edge.” This series features leading experts in antitrust enforcement on a broad range of topics: potential areas for antitrust enforcement, concerns about existing doctrine, practical realities

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Links (5/6/19)


This post is by Ted Allrich from Economist's View


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  • The economics of mobile money – VoxEU Mobile money has transformed the landscape of financial inclusion in developing and emerging market countries, leapfrogging the provision of formal banking services. This column explains how mobile money potentially helps ameliorate several areas of market failure in developing economies, including saving, insurance, and the empowerment of women. It illustrates these effects using examples from aburgeoning empirical literature and concludes that the system-wide effects of mobile money may be even greater than current studies suggest.
  • A Tax That Could Fix Big Tech – Paul Romer It is the job of government to prevent a tragedy of the commons. That includes the commons of shared values and norms on which democracy depends. The dominant digital platform companies, including Facebook and Google, make their profits using business models that erode this commons. They have created a haven for dangerous misinformation and hate speech that has undermined

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Links (5/3/19)


This post is by Ted Allrich from Economist's View


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Links (4/27/19)


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Links (4/18/19)


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Links (4/12/19)


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Links (4/9/19)


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Links (4/5/19)


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Links (3/30/19)


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Links (3/24/19)


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Links (3/18/19)


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Links (3/15/19)


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Links (3/12/19)


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Links (3/8/19)


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Links (3/4/19)


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Links (2/25/19)


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