Category Archives: Timothy Taylor is my Favorite Blogger

Jonathan Parker Discusses Financial Behavior

In an interview format with Aaron Steelman. Pointer from Timothy Taylor. Interesting throughout. A few tidbits: people don’t spend the money the week before it shows up — they spend it the week it shows up. And it seems like … Continue reading

Posted in behavioral economics, income distribution-wealth-poverty, Timothy Taylor is my Favorite Blogger | 8 Comments

Household Services: I have a different take

Timothy Taylor reports, The value of household services was equal to about 37% of GDP in 1965, but is currently equal to about 23% of GDP. Tyler Cowen implies that this is a bad thing. I think of it this … Continue reading

Posted in Introductory Economics, Timothy Taylor is my Favorite Blogger, Tyler Cowen is my Favorite Blogger | 22 Comments

Economists, Empiricism, Humility, etc.

Peter Dorman writes, what passes for empiricism in economics at present is often deficient in an empiricist, self-critical spirit and methodology. At the same time, the debates over topics like the minimum wage, the effects of charter schools on educational … Continue reading

Posted in Economic education and methods, Mark Thoma is Indispensable, Timothy Taylor is my Favorite Blogger, Tyler Cowen is my Favorite Blogger | 2 Comments

Labor’s “share” in a Garett Jones World

Timothy Taylor looks at an article on the secular decline in labor’s share of income, and he concludes These explanations all have some plausibility, but it isn’t clear to me that, taken together, they adequately explain the fall of more … Continue reading

Posted in business economics, Growth Causes and Consequences, income distribution-wealth-poverty, Timothy Taylor is my Favorite Blogger | 7 Comments

Health Care Spending in the Gray Area

Timothy Taylor finds a report from the OECD. Taylor writes, The report divides the evidence into three main categories: wasteful clinical care (care that either provides very low value or can even be counterproductive to health); operational waste (like paying … Continue reading

Posted in Economics of Health Care, Timothy Taylor is my Favorite Blogger | 21 Comments

Timothy Taylor on Capital Allocation

He writes, I’m not opposed to spending more money on fixing up roads and bridges and other physical infrastructure–indeed, it’s often an investment fully justified by cost-benefit analysis–but I am dubious that 21st century economic growth is going to be … Continue reading

Posted in Politics, Timothy Taylor is my Favorite Blogger | 10 Comments

The Economics of a Border-Adjustment Tax

Timothy Taylor writes, Most countries around the world and all high-income countries other than the United States have “border adjustments” in their tax code, but a key point to recognize is that border adjustments are typically part of a value-added … Continue reading

Posted in Introductory Economics, public choice, Timothy Taylor is my Favorite Blogger, Tyler Cowen is my Favorite Blogger | 6 Comments

Price Discrimination Explains Everything

Two years ago, the Executive Office of the President wrote, Ultimately, whether differential pricing helps or harms the average consumer depends on how and where it is used. In a competitive market with transparent pricing, the benefits are likely to … Continue reading

Posted in business economics, Timothy Taylor is my Favorite Blogger | 6 Comments

Gita Gopinath on Trade and Exchange Rates

She says, most of trade invoicing is done in dollars. More recent research shows that these dollar prices tend to be sticky—that is, these dollar prices are far more stable than exchange rates. For non-U.S. economies, therefore, a depreciation of … Continue reading

Posted in PSST and Macro, Timothy Taylor is my Favorite Blogger, trade and immigration | 9 Comments

Timothy Taylor on Christmas Trees

He wrote, One artificial tree used for one year has greater environmental impact than one natural tree. However, an artificial tree can also be re-used over a number of years. Thus, there is some crossover point, if the artificial tree … Continue reading

Posted in energy and the environment, Timothy Taylor is my Favorite Blogger | 6 Comments