background preloader

Economics

Facebook Twitter

Business Strategy. Sustained Budget Deficits: Longer-Run U.S. Economic Performance and the Risk of Financial and Fiscal Disarray. AEA-NAEFA Joint Session, Allied Social Science Associations Annual Meetings, The Andrew Brimmer Policy Forum, ""National Economic and Financial Policies for Growth and Stability"" By: Allen Sinai, Peter R.

Sustained Budget Deficits: Longer-Run U.S. Economic Performance and the Risk of Financial and Fiscal Disarray

Orszag and Robert E. Rubin The U.S. federal budget is on an unsustainable path. In the absence of significant policy changes, federal government deficits are expected to total around $5 trillion over the next decade. Conventional analyses of sustained budget deficits demonstrate the negative effects of deficits on long-term economic growth. The adverse consequences of sustained large budget deficits may well be far larger and occur more suddenly than traditional analysis suggests, however. Thus, in our view, to ensure healthy long-run U.S. economic performance, substantial changes in fiscal policy are needed to deal preemptively with the risks stemming from sustained large budget deficits and the economic imbalances they entail.

Economic timeline

Certificate in Economic Measurement 2011. Economic Measurement Seminar Links to presentations Now in its 8th year, The NABE Foundation's Economic Measurement Seminar (formerly, the Professional Development Seminar) is a convenient, cost-effective program designed to strengthen your knowledge of economic statistics and analytical techniques, enhancing your ability to add value in your workplace. Each session at the EMS pairs data producers with prominent data users to provide you with an insightful view of how data are compiled and how they are used by leading analysts.

EMS attendees earn the Certificate in Economic Measurement and enjoy numerous opportunities to network with instructors and colleagues. The Economic Measurement Seminar features a dual-track format and includes sessions on: GDP and the National Accounts Employment Inflation Federal Reserve Beige Book. Economic Freedom of the World project. Introduction to Economic Analysis. By R.

Introduction to Economic Analysis

Preston McAfee Google News: Because of the change in FlatWorld's business model, we have ended our relationship with them. We are looking for someone who would like to take charge of IEA. Interested? Digest OnLine. The National Bureau of Economic Research. IDEAS: Economics and Finance Research. RePEc: Research Papers in Economics. Mundell–Fleming model. Deflation. In economics, deflation is a decrease in the general price level of goods and services.[1] Deflation occurs when the inflation rate falls below 0% (a negative inflation rate).

Deflation

This should not be confused with disinflation, a slow-down in the inflation rate (i.e., when inflation declines to lower levels).[2] Inflation reduces the real value of money over time; conversely, deflation increases the real value of money – the currency of a national or regional economy. This allows one to buy more goods with the same amount of money over time. Causes and corresponding types[edit] In monetarist theory, deflation must be associated with either a reduction in the money supply, a reduction in the velocity of money or an increase in the number of transactions.

IS/LM model. The IS curve moves to the right, causing higher interest rates (i) and expansion in the "real" economy (real GDP, or Y).

IS/LM model

The IS–LM model (Investment Saving–Liquidity Preference Money Supply) is a macroeconomic tool that demonstrates the relationship between interest rates and real output, in the goods and services market and the money market. The intersection of the IS and LM curves is the "general equilibrium" where there is simultaneous equilibrium in both markets.[1] History[edit] The IS/LM model was born at the econometric conference held in Oxford during September, 1936. Roy Harrod, John R. Hicks later agreed that the model missed important points of Keynesian theory, criticizing it as having very limited use beyond "a classroom gadget", and criticizing equilibrium methods generally: "When one turns to questions of policy, looking towards the future instead of the past, the use of equilibrium methods is still more suspect Formation[edit]

Why do good institutions ever decline? Caucus Night Colorado. Tonight is Caucus night in Colorado.

Caucus Night Colorado

Thousands of political junkies and activists will turn out to elect delegates to represent candidates at the party state assemblies in May. Key races to watch include the Democratic and Republican U.S. Senate contests. Democratic Sen. Michael Bennet faces a primary challenge from popular former state House Speaker Andrew Romanoff. GOP candidate for governor Scott McInnis has struggled for months to win solid grassroots activist support. Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse (9781596985872): Thomas E. Woods Jr., Ron Paul. Hedonic regression. An attribute vector, which may be a dummy or panel variable, is assigned to each characteristic or group of characteristics.

Hedonic regression

Hedonic models can accommodate non-linearity, variable interaction, or other complex valuation situations. Hedonic models are commonly used in real estate appraisal, real estate economics and Consumer Price Index (CPI) calculations. In CPI calculations hedonic regression is used to control the effect of changes in product quality. Price changes that are due to substitution effects are subject to hedonic quality adjustments. Hedonic pricing method[edit] Certain environmental services often influence the market prices. Taking On 'Rational Man' - Research. January 24, 2003 By Peter Monaghan.

Taking On 'Rational Man' - Research

World Economic Outlook (WEO) Update. Table 1.

World Economic Outlook (WEO) Update

Overview of the World Economic Outlook Projections(Percent change, unless otherwise noted) Concern over sovereign risk spilled over to banking sectors in Europe. Funding pressure reemerged and spread through interbank markets, fed also by uncertainty about policy responses. Center For Continuing Study of the California Economy. CCSCE conducts research under contract to public agencies, private clients and foundations.

Center For Continuing Study of the California Economy

CCSCE’s principal expertise is in developing long-term projections of economic and demographic trends for California and sub state market areas. CCSCE helps clients see the important stories told by the numerical projections and relate these stories to the needs of each client. Forum - CREOpoint.

Economists

Happiness economics. Subject classifications[edit]

Happiness economics

Michael Eysenck. Michael William Eysenck (born 8 February 1944)[1] is a British academic psychologist, and is an emeritus professor in psychology at Royal Holloway, University of London. He also holds an appointment as Professorial Fellow at Roehampton University.[1] His research focuses on cognitive factors affecting anxiety. Eysenck has written and co-written many publications, including several textbooks. Social comparison theory. Social comparison theory was initially proposed by social psychologist Leon Festinger in 1954.[1] Social comparison theory is centered on the belief that there is a drive within individuals to gain accurate self-evaluations. The theory explains how individuals evaluate their own opinions and abilities by comparing themselves to others in order to reduce uncertainty in these domains, and learn how to define the self.

Following the initial theory, research began to focus on social comparison as a way of self-enhancement,[2][3] introducing the concepts of downward and upward comparisons and expanding the motivations of social comparisons.[4] Initial framework[edit] In the initial theory, Festinger provided nine main hypotheses. Theoretical advances[edit] Hedonic treadmill. The hedonic treadmill, also known as hedonic adaptation, is the supposed tendency of humans to quickly return to a relatively stable level of happiness despite major positive or negative events or life changes.[1] According to this theory, as a person makes more money, expectations and desires rise in tandem, which results in no permanent gain in happiness.

A survey of ecological economics.