Monthly Archives: January 2016

Tyler Cowen Juxtaposes

There is this. whoever you think the four most likely Americans to be the next president of the United States—who are probably Ted Cruz, Donald Trump, Bernie Sanders, and Hillary Clinton—none of them are in favor of TPP. That is … Continue reading

Posted in PSST and Macro, Tyler Cowen is my Favorite Blogger | 7 Comments

Dean Baker on Health Industry Economics

He writes, Ordinarily economists treat it as an absolute article of faith that we want all goods and services to sell at their marginal cost without interference from the government, like a trade tariff or quota. However in the case … Continue reading

Posted in Economics of Health Care, Mark Thoma is Indispensable | 8 Comments

Machine Learning and Holdback Samples

Susan Athey writes, One common feature of many ML methods is that they use cross-validation to select model complexity; that is, they repeatedly estimate a model on part of the data and then test it on another part, and they … Continue reading

Posted in statistical methods, Tyler Cowen is my Favorite Blogger | 10 Comments

The Uneasy Case for Annuities

In the NYT, Christopher Farrell writes, “I don’t have an annuity and don’t plan to buy an annuity,” said Meir Statman, a finance professor at Santa Clara University. “I am sufficiently responsible and have enough self-control that I can moderate … Continue reading

Posted in Uncategorized | 2 Comments

Market Monetarism Watch

David Beckworth, with Romesh Ponnuru, makes the NYT. It took a bigger shock to the economy to bring the financial system down. That shock was tighter money. Through acts and omissions, the Fed kept interest rates and expected interest rates … Continue reading

Posted in Financial Crisis of 2008, Monetary Economics, PSST and Macro | 8 Comments

Update on Computers Playing Go

From Bloomberg: Jon Diamond, president of the British Go Association, said machines are five to 10 years ahead of where he expected them to be. “It’s really quite a large, sudden leap in strength,” he said. “This is a significantly … Continue reading

Posted in Growth Causes and Consequences, Tyler Cowen is my Favorite Blogger | 5 Comments

Why Measure GDP?

EconoSpeak writes, The questions we need to ask are: What do we really want to know and why? What purposes were we pursuing when we sought to measure economic activity? Is measuring GDP helping to achieve those purposes? Are those … Continue reading

Posted in Economic education and methods, Mark Thoma is Indispensable | 15 Comments

Dealers vs. Brokers in Housing

Tyler Cowen points to a WSJ story about a start-up that will buy your house and flip it, so that you don’t have to spend time selling it. In securities markets, we differntiate between brokers and dealers. A broker brings … Continue reading

Posted in financial markets, Housing and housing finance | 4 Comments

Impressions from Israel

I am back now. 1. There is a construction boom underway. My best guess is that until recently household formation grew faster than supply, but now the opposite is going to happen. I believe that there are long lags between … Continue reading

Posted in International issues | 7 Comments

The Quotable James Bartholomew

He writes, It’s noticeable how often virtue signalling consists of saying you hate things. It is camouflage. The emphasis on hate distracts from the fact you are really saying how good you are. If you were frank and said, ‘I … Continue reading

Posted in Politics | 9 Comments