Monthly Archives: September 2013

David Andolfatto’s Challenge

Posted on September 6, 2013 by Arnold Kling

He writes, The PCE inflation rate since 1990 averaged 2.09% per annum. What’s interesting about this diagram is that even though the Fed does not officially target the PCE price level, the data above suggests that the Fed is behaving … Continue reading →

Posted in Mark Thoma is Indispensable, PSST and Macro, Scott Sumner is Coherent | 5 Comments

Robert Gordon on the Phillips Curve

Posted on September 6, 2013 by Arnold Kling

He writes (can anyone find a free, ungated copy?), The implied short-run unemployment NAIRU is highly stable, staying in the range of 3.9 to 4.4 percent between 1996 and 2013. However, the rise in the extent and duration of long-run … Continue reading →

Posted in Economic History, PSST and Macro | Comments Off

The Syria Decision

Posted on September 5, 2013 by Arnold Kling

Mark Thiessen writes, These are the isolationist Republicans (whom McCain famously dismissed as “wacko birds”) — folks like Sens. Rand Paul and Ted Cruz — who oppose Obama’s plan because it is too vigorous. They don’t support even a limited … Continue reading →

Posted in Uncategorized | 13 Comments

The Great Stagflation Revisited

Posted on September 5, 2013 by Arnold Kling

Alan s. Blinder and Jeremy B. Rudd write, This paper reexamines the impacts of the supply shocks of the 1970s in the light of the new data, new events, new theories, and new econometric studies that have accumulated over the … Continue reading →

Posted in Economic History, PSST and Macro | 2 Comments

Wit and Wisdom from Me?

Posted on September 4, 2013 by Arnold Kling

Not really. Just another essay for everyone to ignore on housing finance reform. If we want asset accumulation, then it is better to offer subsidized savings plans to help home buyers reach a 10 percent down payment threshold than it … Continue reading →

Posted in Housing and housing finance, links to my essays | 4 Comments

Wit and Wisdom of Tyler Cowen

Posted on September 4, 2013 by Arnold Kling

1. In the New York Times. We’ll need a new name for the group of people who have the incomes of the lower middle class and the cultural habits of the wealthy or upper middle class. They will spread a … Continue reading →

Posted in Growth Causes and Consequences, Tyler Cowen is my Favorite Blogger | 2 Comments

America 3.0

Posted on September 3, 2013 by Arnold Kling

James C. Bennett and Michael J. Lotus write, As the 2.0 state fails, we are seeing increasing awareness, urgency, and activism in response to a deepening crisis. The emerging America 3.0 will reverse several key characteristics of the 2.0 state: … Continue reading →

Posted in books and book reviews, Libertarian Thought, links to my essays | 5 Comments

Good Sentences

Posted on September 2, 2013 by Arnold Kling

From James Kwak. the worrying thing is that the intellectual, regulatory, and political climate seems to be basically the same as it was in 2004: no one wants to [do] anything that might be construed as hurting the economy, and … Continue reading →

Posted in Housing and housing finance, Mark Thoma is Indispensable | 1 Comment

The Costco Business Model

Posted on September 1, 2013 by Arnold Kling

Megan McArdle writes, Costco really is a store where affluent, high-socioeconomic status households occasionally buy huge quantities of goods on the cheap: That’s Costco’s business strategy (which is why its stores are pretty much found in affluent near-in suburbs). Wal-Mart, … Continue reading →

Posted in business economics | 8 Comments