PCE deflator below 2%: Figure 1: Instantaneous inflation (T=12, a=4) for PCE deflator (black), for core PCE deflator (pink), CPI (tan), and year-on-year PCE deflator (blue). Red dashed line at PCE inflation target. Calculations per Eeckhout (2023). Source: BEA via...
Scientists Developed a Questionnaire to Identify if Your Cat Is a Psychopath ScienceAlert (Chuck L) Dog Arthritis Treatment Under Fire After Reports of Severe, Even Fatal, Side Effects Gizmodo (Kevin W) Saints for Supper London Review of Books (Anthony L)...
After 25.3 million fully autonomous miles a new study from Waymo and Swiss Re concludes: he Waymo ADS significantly outperformed both the overall driving population (88% reduction in property damage claims, 92% in bodily injury claims), and outperformed the more...
Yves here. Rajiv Sethi describes a fascinating, large-scale study of social media behavior. It looked at “toxic content” which is presumably actual or awfully close to what is often called hate speech. It found that when the platform succeeded in...
Yves here. I trust you will enjoy Michael Hudson’s forward to a new translation of a remarkable old book, Heinrich Schurtz’s Origins of Money. You can download both Hudson’s text and Schurtz’s book for free here. Hudson’s intro below makes...
That’s Heritage Foundation economist EJ Antoni yesterday. Dr. Antoni continues: Increasingly, people are realizing that the 2% target is long gone. We’re looking at 3% basically as the implicit target. Now we’re in for a lot of pain. So the...
The ACR metrics: Some more results. And this: Yupsie-dupsie, delivery of this: Happy holidays people, hope you are enjoying the presents! The post The new o3 model from OpenAI appeared first on Marginal REVOLUTION. Source link...
Or, “who needs a stinkin’ independent central bank, non-Trump edition.” Could this article explain why at 1:30 AM CST as I awaited data on the Russian Central Bank’s interest rate decision… nothing happened? From Bloomberg yesterday (before the decision): ong...
By Lambert Strether of Corrente. Bird Song of the Day Northern Mockingbird, Tulare Ave., Contra Costa, California, United States. “In magnolia tree at approx. 8 feet off the ground, directly above microphone.” Barking dog, but energetic bird! * * *...
Consumption and personal income ex-transfers growth accelerate. Figure 1: Nonfarm Payroll (NFP) employment from CES (blue), implied NFP from preliminary benchmark (bold blue), civilian employment (orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold light green), manufacturing...
