Posts Tagged ‘unemployment’

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    Outsourcing and Immigration

    Nov 4, 10 • 156 Views • Businesses, Demand, Supply, and Markets, Developing Economies, International Trade and Finance, LaborNo Comments

    A recent economics paper provides a surprising solution to those who believe outsourcing is a problem. The story, as explained by George Mason economist Tyler Cowen, involves the connection between offshore jobs and immigration. Traditionally, economists say

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    A Phone Call From Adam Smith

    Oct 14, 10 • 163 Views • Demand, Supply, and Markets, Economic Thinkers, Labor, Macroeconomic MeasurementNo Comments

    The phone rings. The caller says he is Adam Smith and you have won the Nobel Prize in Economics. Your response? As you know, the 18th century author of The Wealth of Nations, Adam Smith, is perhaps the greatest economic thinker. Seemingly chaotic, the market

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    More On Unemployment

    Oct 11, 10 • 177 Views • Labor, Macroeconomic MeasurementNo Comments

    These are great graphs! In just a minute or 2, through a series from The Washington Post, you can understand our employment problems. Our starting point is potential output during the past decade. We see how much we could have produced if our land, labor, and

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    Spend More or Less?

    Aug 29, 10 • 204 Views • Economic Debates, Macroeconomic Measurement, RegulationNo Comments

    It was perfect. On the left side of the NY Times Op-Ed page, David Brooks defended the austerity approach. On the right was Paul Krugman saying spend more. Those are the alternatives. Maybe now it will be easier to choose one? Using Germany as his model,

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    Becoming Ben Bernanke

    Aug 8, 10 • 190 Views • Economic Thinkers, Money and Monetary PolicyNo Comments

    This was fun! A 5 minute Federal Reserve simulation lets you target the fed funds rate for 16 hypothetical quarters and then watch the inflation and unemployment impact. It all appears manageable until a surprise news headline appears. The site also links to