Category Archives: trade and immigration

Sales of homes to foreign buyers

CNN Money reports, The National Association of Realtors released a report Tuesday that said foreign buyers and recent immigrants spent an estimated $153 billion on American properties in the year ending March 2017. That was a 49% increase over the … Continue reading

Posted in Housing and housing finance, Scott Sumner is Coherent, trade and immigration | 17 Comments

Tariffs and Trade Balances

In response to a comment, here is some textbook international economics. 1. A 10 percent tariff has the same effect on the relative cost of imports as a 10 percent depreciation of our currency. 2. The macroeconomic theory of the … Continue reading

Posted in trade and immigration | 9 Comments

Kling on Trade

I wrote, On the topic of international trade, the views of economists tend to differ from those of the general public. There are three principal differences. First, many noneconomists believe that it is more advantageous to trade with other members … Continue reading

Posted in trade and immigration | 28 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

Supply, Demand, and Immigration

Don Boudreaux writes, An increase in the supply of labor lowers wages only if nothing else changes. But when immigrants enter the workforce two very important other things change. First, immigrant workers spend or invest their earnings, both of which … Continue reading

Posted in books and book reviews, Economic History, Growth Causes and Consequences, Specialization and Trade Economics Intro, trade and immigration | 19 Comments

Does Protectionism Protect the Trade Balance?

Tyler Cowen writes, If you tax imports and subsidize exports, the nominal exchange rate adjusts so that those policies don’t end up improving the real exchange rate at all, and thus the trade balance will not improve. Consider the macroeconomic … Continue reading

Posted in trade and immigration, Tyler Cowen is my Favorite Blogger | 10 Comments

Protectionism Equals Charity

Russ Roberts writes, the only way to get him his job back was to keep people from buying cars they preferred to buy elsewhere and force up the prices of those cars and have him share in that. It’s a … Continue reading

Posted in Mark Thoma is Indispensable, trade and immigration | 14 Comments

Sentences to Ponder from Mike Konczal

He writes, Oil doesn’t experience unemployment as the most traumatic thing that can happen to it. Oil moves magically to new opportunities, unlike people who don’t often move at all. A barrel of oil doesn’t beat their kids, abuse drugs, … Continue reading

Posted in trade and immigration, Tyler Cowen is my Favorite Blogger | 9 Comments

Larry Summers Rides the Populist Wave

He writes, If Italy’s banking system is badly undercapitalised and the country’s democratically elected government wants to use taxpayer money to recapitalise it, why should some international agreement prevent it from doing so? Why should not countries that think that … Continue reading

Posted in Libertarian Thought, Mark Thoma is Indispensable, trade and immigration | 34 Comments

A Commenter and I Think Along Similar Lines

He (or she) writes, Not enough talk about elite hypocrisy; Elite professions like finance or law have a [boat]load of regulatory protectionism but even economists don’t really like to talk about that; but when non-elites want protectionism for their trades … Continue reading

Posted in Specialization and Trade Economics Intro, trade and immigration | 32 Comments