Advanced Concepts 5 min read
Beyond Unemployment
In modern economies, people may have jobs, but they still harbor major concerns in a wide range of areas, including…
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Category: Advanced Concepts.
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Why Did the US Labor Share of Income Fall So Quickly?
The share of US national income going to labor was sagging through the second half of the century, but then…
Advanced Concepts 4 min read
An old result on automation and wages
The first issue of AER Insights is out and the very first article is one by Francesco Caselli and Alan Manning on “Robot…
Advanced Concepts 10 min read
Is the U.S. budget deficit sustainable?
The U.S. federal budget deficit for 2018 came in just shy of $800 billion, or about 4% of the gross…
Advanced Concepts 7 min read
The costs and benefits of performance fees in mutual funds
Performance fee-based contracts, which aim to align the interests of the fund manager with that of the investor, have been…
Advanced Concepts 5 min read
Why Call it “Socialism”?
I’ve been coming around to the belief that most modern arguments over “socialism” are a waste of time, because the…
Advanced Concepts 3 min read
What is “average inflation targeting”?
he Federal Reserve is charged by Congress with maintaining price stability and maximum sustainable employment. The Fed defines “price stability”…
Advanced Concepts 8 min read
Monetary Policy and Financial Stability
As you well know, monetary policy has powerful effects on financial markets, the financial system, and the broader economy. Conversely,…
Advanced Concepts 14 min read
Sustaining Maximum Employment and Price Stability
In July, the current U.S. economic expansion will become the longest on record—or at least the record since the 1850s,…
Advanced Concepts 5 min read
Protecting the Independence and Integrity of Research: Introducing the Academic Capture Warning System
Inappropriate financial donor influence at institutions of higher education appears to be on the rise and risks eroding public trust…
Advanced Concepts 3 min read
Trade Wars Heat Up With New Assault on Mexico
One way or another, President Trump is going to drag the Fed into his trade wars. Tonight Trump announced via…
Advanced Concepts 3 min read
A new one for price discrimination: taxing the late
One of the popular travel options in Toronto is Porter Airlines which operates out of the City Airport and…