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Green eggs and chickensLAST week, Brookings scholars published the results of an effort to calculate the average expected cost of a climate change bill by metropolitan area. The authors noted that lower emission reduction costs tended to be found in the districts of legislators favouring the bill, suggesting that the m... |
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The heedless FedYESTERDAY, I linked to a Paul Krugman post in which he links to an old piece of analysis he wrote on the Japanese economy in 1998, in which he says:To preview the conclusions briefly: in a country with poor long-run growth prospects - for example, because of unfavorable demographic trends - the s... |
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Trade spat heating upTHESE stories are increasingly troubling:China denounced new U.S. anti-dumping duties on steel pipes as protectionist on Friday and opened an investigation into imports of U.S.-made automobiles, about a week before President Barack Obama is scheduled to arrive for a visit. Beijing also cal... |
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Government: Now hiringHERE is Paul Krugman:As it is, job-creation efforts are generally indirect. Tax cuts and transfers in the hope that people will spend them; aid to state governments in the hope of averting layoffs. Even infrastructure spending is routed through private contractors.You can make a pretty good case ... |
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Crank up the helicopterPAUL KRUGMAN responds to discussion on the David Beckworth chart—tracking nominal spending—that I posted yesterday. He discusses a liquidity trap model he drew up in 1998, while thinking about the Japanese economy, and writes:In that model, prices are assumed sticky in the short run, ... |
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Rethinking the LudditesOVER at Angry Bear, Rdan posts something by Martin Ford, in which he ponders the issue of technology-induced long-term structural unemployment:I'm not talking about far fetched science fiction-level technology here: this is really a simple extrapolation of the expert systems and specialized algor... |
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