News
CNN Money | Housing is key to Fed's ability to reach middle class
Although the Fed has been juicing the economy since late 2008, it doesn't feel that way to many people on Main Street. That's because a key part of the process has broken down.
Econ Comments & Analysis
Washington Times | Earth to Obama: Economic policy is in a tailspin
The national news media has been in hyperdrive since President Obama’s inauguration, trying to persuade us that the U.S. economy is getting stronger.
Bloomberg | Empirical Economics Isn’t Yet as Smart as Dentistry
In macroeconomics, ideas are more powerful than facts. That’s a shame, but it isn’t a criticism. Even with the best will in the world (a condition, admittedly, that’s rarely satisfied) economists who debate fiscal and monetary policy couldn’t settle their disagreements by appealing to facts. Their discipline is too difficult, or too far from being a proper science, for that to happen. Ideas trump data time and again.
Blogs
WSJ | OECD Chief Says Global Economy to Gain From Japan Monetary Stimulus
The global economy stands to gain if Japan’s controversial monetary stimulus pays off, but a prolonged period of loose monetary policy in advanced economies is fueling a worrying run up in financial markets, the head of the Organization for Economic Cooperation and Development said Thursday.
WSJ | Muted Forecasts for Global Growth
The latest forecasts for global growth don’t make for very upbeat reading. In reports issued this week, the Institute of International Finance and the International Monetary Fund both see the global recovery proceeding, but at a very sluggish pace.
Friday, April 19, 2013
Health Care
Econ Comments & Analysis
NBER | How do Hospitals Respond to Negative Financial Shocks? The Impact of the 2008 Stock Market Crash
The theory of cost-shifting posits that nonprofit hospitals respond to negative financial shocks by raising prices for privately insured patients.
Blogs
Heritage Foundation | Democratic Senator: Obamacare a “Train Wreck Coming”
At a hearing yesterday, author and supporter of Obamacare, Senate Finance Committee Chairman Max Baucus (D–MT), revealed his unease about the law’s confusing implementation to Health and Human Services Secretary Kathleen Sebelius, who is in charge of implementation.
NBER | How do Hospitals Respond to Negative Financial Shocks? The Impact of the 2008 Stock Market Crash
The theory of cost-shifting posits that nonprofit hospitals respond to negative financial shocks by raising prices for privately insured patients.
Blogs
Heritage Foundation | Democratic Senator: Obamacare a “Train Wreck Coming”
At a hearing yesterday, author and supporter of Obamacare, Senate Finance Committee Chairman Max Baucus (D–MT), revealed his unease about the law’s confusing implementation to Health and Human Services Secretary Kathleen Sebelius, who is in charge of implementation.
Monetary
News
CNN Money | Bitcoin bubble re-inflates
BItcoin prices are back in rally mode, just one week after it looked like the bubble had started to burst.
Econ Comments & Analysis
Forbes | Gold Isn't Money, But It Should Be Used To Define The Value Of The Dollar
Last week, Unconventional Logic touched off a flurry of controversy by pointing out that Bitcoins are not money, and can never be money, in the sense of providing a viable alternative to the U.S. dollar for operating the American economy. Well, gold isn’t money either.
Fortune | The IMF needs to overcome its bipolar personality
As officials gather this weekend in Washington for the semi-annual policy meetings, Mohamed A. El-Erian assesses the problems and solutions to the IMF's twin personality.
Telegraph | The IMF is flunking the financial crisis
Why did nobody see this coming, the Queen asked of the financial crisis some years ago. Today, her question would be only slightly different: if all you economists are so clever, why, more than five years into the crisis and with no end in sight, are you still debating solutions?
CNN Money | Bitcoin bubble re-inflates
BItcoin prices are back in rally mode, just one week after it looked like the bubble had started to burst.
Econ Comments & Analysis
Forbes | Gold Isn't Money, But It Should Be Used To Define The Value Of The Dollar
Last week, Unconventional Logic touched off a flurry of controversy by pointing out that Bitcoins are not money, and can never be money, in the sense of providing a viable alternative to the U.S. dollar for operating the American economy. Well, gold isn’t money either.
Fortune | The IMF needs to overcome its bipolar personality
As officials gather this weekend in Washington for the semi-annual policy meetings, Mohamed A. El-Erian assesses the problems and solutions to the IMF's twin personality.
Telegraph | The IMF is flunking the financial crisis
Why did nobody see this coming, the Queen asked of the financial crisis some years ago. Today, her question would be only slightly different: if all you economists are so clever, why, more than five years into the crisis and with no end in sight, are you still debating solutions?
Taxes
Econ Comments & Analysis
Washington Times | An ill-advised Internet tax mandate
This mandate is nothing more than a huge tax increase on the American people backed by lobbyists and some state governments. I must admit, I am disappointed that some in my party are backing this ill-advised bill.
Blogs
Neighborhood Effects | Happy Tax Freedom Day
Today, the Tax Foundation notes that Americans have worked enough to pay off their 2013 taxes, leaving the rest of the year’s earnings available for private consumption and investment
Washington Times | An ill-advised Internet tax mandate
This mandate is nothing more than a huge tax increase on the American people backed by lobbyists and some state governments. I must admit, I am disappointed that some in my party are backing this ill-advised bill.
Blogs
Neighborhood Effects | Happy Tax Freedom Day
Today, the Tax Foundation notes that Americans have worked enough to pay off their 2013 taxes, leaving the rest of the year’s earnings available for private consumption and investment
Employment
News
Washington Times | Thomas Perez: Obama administration understating unemployment rate
President Obama’s nominee to run the Labor Department on Thursday acknowledged during his Senate confirmation hearing the administration has understated the nation’s unemployment rate.
Econ Comments & Analysis
Bloomberg | City Centers in U.S. Gain Share of Jobs as Suburbs Lose
The deepest downturn since the Great Depression has interrupted a decades-long trend of jobs steadily moving to the suburbs and hollowing out urban business districts across the U.S., a study finds.
Washington Times | Thomas Perez: Obama administration understating unemployment rate
President Obama’s nominee to run the Labor Department on Thursday acknowledged during his Senate confirmation hearing the administration has understated the nation’s unemployment rate.
Econ Comments & Analysis
Bloomberg | City Centers in U.S. Gain Share of Jobs as Suburbs Lose
The deepest downturn since the Great Depression has interrupted a decades-long trend of jobs steadily moving to the suburbs and hollowing out urban business districts across the U.S., a study finds.
Budget
News
CNN Money | Bowles and Simpson detail $2.5 trillion deficit reduction plan
The deficit duo of Erskine Bowles and Alan Simpson will try again on Friday to get Democrats and Republicans to hold hands and make tough choices on the nation's debt.
Econ Comments & Analysis
Market Watch | Treasury's Miller: No banks will be bailed out
No financial institution, regardless of its size, will be bailed out by taxpayers again, Treasury Undersecretary for Domestic Finance Mary Miller said Thursday.
Politico | A conservative case for skepticism on chained CPI
President Obama’s 2014 budget proposal does something that has seemed impossible in recent years: it cuts spending and forges political compromise (on one issue at least). For a fleeting moment, the magical feeling of bipartisanship has descended over Pennsylvania Avenue and lawmakers are crowing to the media that common sense and pragmatism have won the day.
Blogs
Roll Call | Debt Ceiling Bogs Down Obamacare Tax Repeal
Looming negotiations to raise the debt ceiling appear to be at the heart of what is stalling stand-alone legislation to repeal Obamacare’s medical-device tax.
CNN Money | Bowles and Simpson detail $2.5 trillion deficit reduction plan
The deficit duo of Erskine Bowles and Alan Simpson will try again on Friday to get Democrats and Republicans to hold hands and make tough choices on the nation's debt.
Econ Comments & Analysis
Market Watch | Treasury's Miller: No banks will be bailed out
No financial institution, regardless of its size, will be bailed out by taxpayers again, Treasury Undersecretary for Domestic Finance Mary Miller said Thursday.
Politico | A conservative case for skepticism on chained CPI
President Obama’s 2014 budget proposal does something that has seemed impossible in recent years: it cuts spending and forges political compromise (on one issue at least). For a fleeting moment, the magical feeling of bipartisanship has descended over Pennsylvania Avenue and lawmakers are crowing to the media that common sense and pragmatism have won the day.
Blogs
Roll Call | Debt Ceiling Bogs Down Obamacare Tax Repeal
Looming negotiations to raise the debt ceiling appear to be at the heart of what is stalling stand-alone legislation to repeal Obamacare’s medical-device tax.
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