Currency exchanges rates between any two countries are determined by a variety of factors including their balance of trade and payments, capital flows (both restricted and unrestricted), and monetary policies. In a recent posting on Conversable Economics, Timothy Taylor argued that “all exchange rates are bad” (meaning that they generate some negative consequences.) Although this … Continue reading Are U.S. Exchange Rates Too High, Too Low, or Just Right?
The latest to pass away is Kenneth Arrow, who by any and all accounts was a genius. A Fine Theorem tells us what we already know, that “Arrow is so influential, in some many areas of economics, that it is simply impossible to discuss his contributions in a single post.” These contributions, of course, … Continue reading The Death of the Great Economists
Fall 100 Intro Gerard MWF 9:50 211 In Pursuit of Innovation Galambos TR 12:30 271 Public Economics & Friends Gerard MWF 1:50 300 Intermediate Micro Galambos MTWF 8:30 300 Intermediate Micro Galambos MWF 12:30 T 8:30 420 Money & Montetary Policy Finkler TR 9 481 Advanced Econometrics & Modeling Lhost MWF1:50 Winter 100 Intro … Continue reading *********** Tentative 2017-18 Schedule
We have a number of excellent talks scheduled for this term that should be of interest to our majors. Indiana University appears to be well represented. Each of these talks is at 4:30 in Wriston Auditorium. Thursday, February 16, 4:30 p.m., Wriston Auditorium Deal (with) the Burn: The Political Economy of U.S. Wildfire … Continue reading Economics Colloquia, Winter 2017: Mark Your Calendars
Since the industrial revolution in England in the 19th century, many policy makers and the public at large have been concerned about the effects of automation on jobs. For example in 1961, Time magazine published a provocative article entitled “The Automation Jobless,” which posited that efficient machines and productivity improvement would eliminate many low and … Continue reading Human vs. Digital Labor: Will The Results This Time Be Different?
Economist Steven Landsburg famously claimed that economics can be defined in two words: “incentives matter.” For Landsburg, all else is commentary. In a 2013 book entitled The Why Axis, Uri Gneezy and John List explore in detail how incentives matter. Characterizing economics as a behavioral science, they seek to understand what affects individual behavior based … Continue reading Incentives Matter But So Does Context
Those of you who are acquainted with my writing on this blog probably know that (a) I study mortality risks, and (b) I sometimes comment on how these risks change when the clocks spring forward and fall backward. This fall is no exception, as I have a piece in the venerable Costco Connection* making the case … Continue reading Into the darkness they go, the wise and the lovely
This year’s Nobel Memorial Prize in Economic Sciences once again goes to some folks doing the heavy lifting on organizational theory. You may recall that not too long ago, Elinor Ostrom and Oliver Williamson shared the award for their work on “governance mechanisms” — Ostrom on collective governance of natural resources, Williamson for organizational … Continue reading Nobel Prize Agency
Investment analyst and former Lawrence professor Jeff Miller provides a weekly column entitled Weighing the Week Ahead that employs many charts and offers an array of insights related to both the state of the U.S. economy and investment opportunities. This week’s version provides a link to a quarterly chartbook assembled by JP Morgan that will … Continue reading Quarterly Chartbook for the U.S. Economy