Macroeconomic Updates

Here are the Powerpoint slides I used during my lunchtime speech at the Northeast Business and Economics Association meeting in Worcester, MA on Nov 7, 2009. We had a great discussion following the presentation on a wide variety of topics including the importance of getting our students to see the connections between finance and [...]

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In 1994 Paul Krugman wrote an article in Foreign Affairs that questioned the idea of the “Asian Economic Miracle.”  Krugman simplified that argument made by Alwyn Young and others that the economic growth in Southeast Asia was driven by capital investment and increased labor force participation and NOT by total factor productivity.  What this means [...]

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Here is (I hope) an objective analysis of the Administration’s fiscal stimulus package. I will leave it up to you to decide who is right.
First the facts:
As it stands now it will be about $820 billion of spending and tax cuts. More likely it will be closer to $900 billion. Here is [...]

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I attended the American Economic Association meetings in San Francisco earlier this month, which is the largest annual meeting of economists.  The AEAs, as we call them, are a great place to catch up with old friends and hear fellow economists present their most recent research findings.
Some of the most interesting sessions were on the [...]

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This is in response to my former student “Jerry” who posted a response on the McCombs Today blog. “Jerry” wants me to “take a stand” on the bailout and to “tell what you (meaning me) would do otherwise to instill confidence and get us back on track. And or what you (again, meaning [...]

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Bank Failures and Fannie/Freddie.
Financial markets have certainly been in the news over the past few weeks, haven’t they? We have the FDIC taking over IndyMac in what may turn out to be the largest bank failure in U.S. history. Also, we have the near collapse of Fannie Mae and Freddie Mac with the [...]

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