167 Items

In this photo, taken on September 15, 2008, file photo traders work on the floor of the New York Mercantile Exchange in New York.

(AP Photo/Seth Wenig)

Analysis & Opinions - The Washington Post

The Financial Crisis and the Foundations for Macroeconomics

| Sep. 13, 2018

A preoccupation of macroeconomists for the last generation has been providing macroeconomics with a microeconomic foundation. Yet it has to be acknowledged that the principle of building macroeconomics on microeconomic foundations, as applied by economists, contributed next to nothing to predicting, explaining or resolving the Great Recession. What went wrong, and what is to be learned?

Shrubs grow on empty housing pads around a hole at the Coyote Springs golf course in the Coyote Springs development, about 50 miles northeast of Las Vegas on June 16, 2016. Before the housing bubble burst, developers planned to create a new community in the desert with thousands of homes, several golf courses and other amenities.

AP Photo/John Locher

Analysis & Opinions - Project Syndicate

Setting the Record Straight on Secular Stagnation

| Sep. 03, 2018

Echoing conservatives like John Taylor, the Nobel laureate economist Joseph Stiglitz recently suggested that the concept of secular stagnation was a fatalistic doctrine invented to provide an excuse for poor economic performance during the Obama years. This is simply not right.

Activists hold up a flag of the U.S. territory of Puerto Rico, which was devastated by Hurricane Maria in September, during a protest outside the Connecticut state Capitol on Wednesday, Feb. 28, 2018. (AP Photo/Susan Haigh)

 AP Photo/Susan Haigh

Analysis & Opinions - The Washington Post

How to Actually Help Puerto Rico

| Apr. 17, 2018

Desmond Lachman, Brad Setser and Antonio Weiss have written a strong analysis of the Puerto Rico situation. If ever there was a disconnect between underlying reality and what is happening in financial markets, it is the boom in Puerto Rican debt which has nearly doubled the value of some of its debt securities over the last few months.

Markets are now pricing that close to 20 billion more dollars will come out of Puerto Rico to investors than they were at the end of 2017, following Puerto Rico’s own government, which is inexplicably projecting a substantially greater ability to repay debt today than before the hurricane.

What is going on?

In this photo taken December 1, 2017, a worker uses a torch to cut a dump truck bed into smaller pieces at Midwest Scrap Management in Kansas City, Mo. (AP Photo/Charlie Riedel)

(AP Photo/Charlie Riedel)

Analysis & Opinions - Vox

Larry Summers Makes the Case for a Government Bailout of the American Heartland

  • Dylan Matthews
| Mar. 08, 2018

In 2016, only 5 percent of men ages 25 to 54 in Alexandria, Virginia (a rich DC suburb), were not working. In Flint, Michigan, the share was 51 percent.

That staggering fact frames a new paper by three Harvard economists — Benjamin Austin, Ed Glaeser, and former Treasury secretary/chief Obama economic adviser Larry Summers — released on Thursday as part of the Brookings Institution’s Papers on Economic Activity series.