(March 25, 2016) Three things are striking about the rise in economic inequality since the 1970s in the United States. (1) It doesn’t really matter which measure of income distribution we choose; they all show a rise in inequality. (2) There are many different competing possible explanations and interpretations. (3) We do not need to agree on the explanation to agree on what are sensible policies to lessen inequality.
(March 18, 2016) Financial markets reacted to the outcome of the Federal Open Market Committee meeting on Wednesday, March 16, as if what the Fed had revealed was highly dovish, that is, diminishing expectations regarding future interest rates.
(Feb. 27, 2016) Eight years after the financial crisis broke out in the United States, there is as much confusion as ever regarding what reforms are appropriate in order to minimize the recurrence of such crises in the future.