Unequal Recovery
Lower skilled workers haven't benefited much from the recovery: Unemployment drop still leaves low skill workers behind, by Michael A. Fletcher, Washington Post: The nation’s jobless rate has declined to its lowest level in three years, a fact that has...
Grumpy Old Permabear
Suddenly, a growing number of commentators are suggesting that the worst is behind us -- in housing, employment, manufacturing, the auto sector, the technology industry, and elsewhere in between. Aside from the fact that, historically at least, bursting bubbles have...
Stiglitz: Capturing the ECB
A quick post between appointments -- Joe Stiglitz is unhappy with the ECB. He says, "The ECB’s behavior should not be surprising: as we have seen elsewhere, institutions that are not democratically accountable tend to be captured by special interests":...
Citigroup: Risk of Greek Exit From Euro Has Risen to 50%
Citigroup raised its estimate of the likelihood of a Greek exit from the euro area over the next 18 months to 50% from a prior range of 25% to 30%.
Market Places Lower Odds on Mid-2014 Rise in Fed Rate
Fed-funds futures traders aren't so sure that the central bank will start raising rates by mid-2014 even though Friday's jobs report was much better than expected.
Why New York Giants’ Super Bowl Victory Is Good for the Economy
An embittered Pats fan finds the economic silver lining to the Giants' Super Bowl victory.
Bullard Opposes Zero-Rate Policy Through 2014
The Fed should start raising its short-term funds rate in 2013, at least a year ahead of the central bank's current plan, a Fed policy maker said Monday.
Old versus New Keynesian Models
In response to Tyler Cowen, if the alternative hypothesis to his null that Old Keynesian models have failed is New Keynesian models, and he has rejected the Old in favor of the New, then I don't have many problems with...
Secondary Sources: Manufacturing, Unemployment, Economic Confidence
A roundup of economic news from around the Web.
Fed’s Bullard Warns of ‘Looming Disaster’ With Output Gap Model
If the Fed doesn't change the way it takes stock of the economy and its relationship to monetary policy, the U.S. may be facing a "looming disaster," a top central bank official said.
Vital Signs: Rising Demand From Factories
New orders for manufactured goods climbed a seasonally adjusted 1.1% from November, marking the second consecutive monthly rise.
Paul Krugman: Things Are Not O.K.
We seem to have turned the corner, but policymakers should not relax yet -- we still have a long way to go to get back to full employment: Things Are Not O.K., by Paul Krugman, Commentary, NY Times: ...So, about...
