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I loved
@ezraklein‘s Why We’re Polarized. Here is why:https://www.goodreads.com/review/show/3081527482 …Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Jason Furman proslijedio/la je Tweet
This is quite a read - backing diagnosis of our panel led by
@jasonfurman with@drphilipmarsden@drdrmc@ameliafletecon. Consultation until 12 Feb on steps to make digital markets more competitivehttps://twitter.com/CMAgovUK/status/1207269368402501632 …
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Thrilled to see the CMA's Interim Report on Online Platforms & Digital Advertising. The expert Panel I chaired recommended conducting this market study. Now the Interim Report agrees with our core recommendation of a pro-competitive regulatory regime. https://assets.publishing.service.gov.uk/media/5dfa0580ed915d0933009761/Interim_report.pdf …pic.twitter.com/lgAhzUCnjI
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Jason Furman proslijedio/la je Tweet
What do two Nobel laureates, former Fed Chair Janet Yellen, and former CEA Chairs
@jasonfurman &@LauraDTyson all have in common? They just endorsed the Measuring Real Income Growth Act, which Vice Chair@RepMaloney introduced to Congress in January.https://equitablegrowth.org/nobel-laureates-former-fed-chair-two-former-cea-chairs-and-58-economists-endorse-the-measuring-real-income-growth-act-of-2019/ …Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
I got
@bryan_caplan’s Open Borders for my son. But then I read it first (is very quick). Highly recommended—the most powerful an economic and moral argument on a fundamental issue I have ever read in graphic novel format and up there in any format.https://www.goodreads.com/review/show/2854289162 …Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
A huge amount that is good in Good Economics for Hard Times by Nobel-prize Winners Banerjee & Duflo. But on the hottest issues they too often fall short of their aspiration to focus on facts and economics while acknowledging uncertainty/nuance. My review:https://www.goodreads.com/review/show/3059169938 …
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My review of
@ThomasPHI2's The Great Reversal: "A great read on an important topic that advances a bold thesis about the US economy, a counterintuitive re-thinking of the economic institutions of the EU, and a synthesis of a lot of Philippon's research."https://www.goodreads.com/review/show/3058670669 …Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
My review of Jon Gruber and
@baselinescene’s excellent book combines a history of technology policy with a bold and creative proposal to dramatically increase science funding while extending it to benefit more areas of America and more Americans.https://www.goodreads.com/review/show/3018318954 …Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Jason Furman proslijedio/la je Tweet
Any article that’s about how brilliant and awesome
@AbigailWozniak is is a good articlehttps://www.bloomberg.com/news/articles/2019-11-24/can-the-fed-fight-inequality-kashkari-says-yes-hires-an-ally …Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Jason Furman proslijedio/la je Tweet
Really delighted to receive this prize. It is named in honor of Toni Calvó-Armengol, who did seminal work in the economic theory of networks before he died tragically young at 37.https://twitter.com/barcelonagse/status/1194179299982663680 …
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Retweeting this for 2 reasons: (1)
@restatjournal is now on twitter and you can follow it & (2) read the table of contents to appreciate the wide range of topics that economists contribute to (in this issue: lead poisoning, discrimination, nutritional deprivation in Africa, etc.)https://twitter.com/restatjournal/status/1189917543512735745 …
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Congrats to the Nats and my DC friends, you sure know how to make it exciting.
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And here are the updated gory details on investment: slowdowns in equipment and structures with or without the volatile oil/mining category only partly offset by strengthening of growth in intellectual property products like R&D.pic.twitter.com/T0iUuxPoqS
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Growth rate in the 7 quarters before/after the tax cut: down slightly, reflecting small slowing of consumer spending, large slowing of investment, partly offset by faster government spending. This updates my
@AEIdeas blog, see that for more context. https://www.aei.org/economics/not-much-what-macroeconomic-data-say-about-the-impact-of-the-tax-cuts-and-jobs-act/ …pic.twitter.com/TvqVs02R8L
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How to tell the good case (falling to slow trend growth) from the bad case (falling below trend): is the unemployment rate rising. So far it is not but anything could happen.
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In the bad case, growth will fall below trend. In that case, monetary and fiscal stimulus could both help.
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In the good case, when the unemployment rate stops falling (and labor force participation stops rising, which could take longer), the GDP growth rate will settle down around 1.75% give or take. Not much monetary policy could do about this type of slowdown.
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This means that GDP growth for the last two quarters averaged ~2.0%. Why is notable is that unemployment rate continued to come down over this period, more evidence that the trend growth rate in the economy is below 2%.
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GDP for the third quarter was 1.9%. That is a little above expectations and somewhat below the pace over the previous year. Consumer spending remains strongish (+2.9%) and business fixed investment continues to fall (-1.3%). No big surprises.
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Jason Furman proslijedio/la je Tweet
It should be clear since team
@jasonfurman CEA w/@JayCShambaugh@Econ_Sandy published the famous figure below that we cannot estimate u* within a policy-relevant conf int. Thus, we must look elsewhere: https://www.npr.org/2019/10/24/773161382/is-the-unemployment-rate-broken …pic.twitter.com/3DsGsS7Tz4
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