There are some events whose likelihood of occurrence is independent of beliefs about this likelihood. It may or may not rain during the opening ceremonies of the Paris Olympics, but the probability that it will is unaffected by whether people...
The law’s price controls will also deter companies from developing new medicines. A study I co-authored estimated that 135 fewer drugs will come to market through 2039 because of the Inflation Reduction Act. Research firm Vital Transformation’s forecast is even bleaker, predicting that the...
In August 2023, time was running out for health care workers along Florida’s Gulf Coast. Hospital administrators and staff had to decide how they would prepare themselves, their patients, and their facilities as Hurricane Idalia — a Category 4 —...
And it’s worth asking: Is it true that since 1974, policy debate in the United States has been dominated by a “growth-at-all-costs” brand of “free-market fundamentalism”? I don’t think that actually is true. Technically, the biggest pieces of environmental legislation...
Reports that a powerful Rio drug lord known for his extremist religious beliefs ordered Catholic churches near his stronghold to close have spooked worshipers and security experts and exposed the advent of a “narco-pentecostal” movement made up of heavily armed...
Here is one excerpt: What few appreciate is that the overregulation of housing has blocked a classic American path: moving to a higher-wage part of the country to secure a better life. A paper by the economists Peter Ganong and Daniel Shoag...
By Lambert Strether of Corrente Readers, I hope this is the last time I must ask you to be patient, at least for awhile. Because I kmew I would be traveling, I did a good deal of work early, and...
CPI m/m (headline, core) below consensus (-0.1% vs +0.1%, +0.1 vs +0.2, respectively). Figure 1: Instantaneous inflation per Eeckhout (2023) T=12, a=4, for CPI (blue), for chained CPI (tan), for PCE deflator (green). Chained CPI adjusted by author using X-13....
1. Singapore fact of the day uh-oh. 2. Benjamin Schneider on robotaxis. 3. Jon Hartley interview with Edmund Phelps. 4. The $150,000 dog. 5. Greg Mankiw on inflation and the Phillips curve. 6. Doctors using AI for rent-seeking (NYT). 7....
Yves here. This post provides a useful background on recent Russia-India dealings, how the Ukraine war disrupted them, and how they are getting on a new footing. As a finance person, perhaps I am putting too much weight on it,...
