Monthly Archives: October 2014

National Assembly in Burkina Faso votes to submit change to constitution to referendum

Posted on October 24, 2014 by mkevane

Correction- they voted to put consideration of the question on the agenda, apparently. Still not clear because no news stories have emerged of what exactly was decided today. Apparently after not even a full day of consideration!  No hearings about … Continue reading →

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Great interview with Cheriff Sy in Burkina Faso

Posted on October 22, 2014 by mkevane

One of the most well-respected journalists in Burkina Faso.  He does not mince his words. Completely opposed to Blaise Compaoré’s attempts to revise the constitution to permit himself to run for another presidential term. Il y a une constitution qui … Continue reading →

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Blaise Compaoré proposes referendum to revise the Constitution to permit another term in Burkina Faso

Posted on October 21, 2014 by mkevane

If the referendum passes and he wins the presidential elections in 2015, another 5 years term would mean he will have been president from 1987-2010, a total of 33 years. There are two legal obstacles, that I hope the opposition … Continue reading →

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Why monetary policy is hard

Posted on October 21, 2014 by mkevane

We are in October 2014, and unemployment already down to 5.9%, a full percentage point below the March 2013 projections. According to the most recent projections available at the time of this response (March 2013) most FOMC meeting attendees do … Continue reading →

Posted in Teaching macroeconomics | Comments Off on Why monetary policy is hard

Nice perspective on Janet Yellen’s speech on inequality

Posted on October 20, 2014 by mkevane

For the last five years of economic expansion, Congress has been unwilling to use fiscal policy to try to encourage faster growth. That has left the Fed as the only game in town, and the Bernanke Fed again and again … Continue reading →

Posted in Teaching macroeconomics | Comments Off on Nice perspective on Janet Yellen’s speech on inequality

Neil Irwin tries to summarize last week…

Posted on October 20, 2014 by mkevane

There are two problems when I read the very nice summary:  (1) If the stock market rises 3% this week, does that mean his analysis of last week is wrong?  Always a bad idea to theorize about the longer term … Continue reading →

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More on the TPP trade talks from WikiLeaks

Posted on October 19, 2014 by mkevane

Two of the more contentious areas in the IP area relate to copyright and pharmaceuticals.For example, current patent law allows drug companies a monopoly on drugs they have created for a defined period, meaning other companies are not allowed to … Continue reading →

Posted in International trade issues | Comments Off on More on the TPP trade talks from WikiLeaks

TPP trade talks are making the news

Posted on October 19, 2014 by mkevane

Over the last year or two, critics of trade agreements have stepped up their attacks on the “secrecy” of trade negotiations. Discussing these agreements behind closed doors, or only with corporate advisers, they argue, undermines democracy and the rule of … Continue reading →

Posted in International trade issues | Comments Off on TPP trade talks are making the news

More volatility in the global economy

Posted on October 15, 2014 by mkevane

Investors flocked to the relative safety of government bonds on Wednesday, pushing yields on United States Treasuries and on German bunds sharply lower. The yield on the 10-year United States Treasury note — a benchmark for many interest rates — … Continue reading →

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Trustees ignoring faculty? Nah, why would they do that?

Posted on October 14, 2014 by mkevane

But a restive faculty [at Catholic University] has made it clear that not everyone is satisfied with his tenure. In May, at the beginning of a scheduled performance review, 42 full professors wrote a letter to the board that raised … Continue reading →

Posted in Santa Clara University | Comments Off on Trustees ignoring faculty? Nah, why would they do that?

Mixed messages on role of head of World Bank and Ebola

Posted on October 14, 2014 by mkevane

On the one hand, the reporter sings the praises on Dr. Jim Yong Kim.  On the other hand, there are passages like this: In July, as the epidemic was worsening, Dr. Kim fired off emails to other global health leaders. … Continue reading →

Posted in Development thinking | Comments Off on Mixed messages on role of head of World Bank and Ebola

Petting a wallaby is a great way to end a Saturday evening

Posted on October 12, 2014 by mkevane

Leslie and I and neighbors Alan and Ken had a great time at the Congo gorilla benefit at the Happy Hollow Zoo in San Jose.  How great a time?  Let’s say “petting wallaby” kind of time….  And BTW, FAVL and … Continue reading →

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Economics stand up comedy

Posted on October 10, 2014 by mkevane

By the time Bauman takes the stage, the packed house — looks like at least 200 people — are cheering and clapping for the world’s first stand-up economist. He grabs the mic and starts his set by admitting just how … Continue reading →

Posted in Teaching international trade, Teaching macroeconomics | Comments Off on Economics stand up comedy

Data, asking questions, and disaster (the Thiokol graph)

Posted on October 9, 2014 by mkevane

The following two graphs are well-known; I was talking about them in class today.  The Thiokol engineer’s ‘chart” was unreadable, and so symptomatic of a culture of not really asking questions that challenged higher-ups.           Here … Continue reading →

Posted in Teaching international trade, Teaching macroeconomics | Comments Off on Data, asking questions, and disaster (the Thiokol graph)

This is when reporters get me upset

Posted on October 8, 2014 by mkevane

So you lazy reporter (Jad Mouawad, the friggin “airline correspondent”), you can’t actually name a single member of Congress  or the administration who wants a travel ban.  Why write the article?  Why push to get it on the front page?  … Continue reading →

Posted in Development thinking | Comments Off on This is when reporters get me upset

One of my distant relations centrally involved in an important controversy at Catholic University

Posted on October 7, 2014 by mkevane

I think I would have been on the other side of the issue.  But I guess he gets props for standing his ground?  What if his ground was bad ground? No honor in sinning, is there? In 1958 Monsignor Kevane … Continue reading →

Posted in Santa Clara University | Comments Off on One of my distant relations centrally involved in an important controversy at Catholic University

I.M.F. Lowers World Growth Forecast

Posted on October 7, 2014 by mkevane

The fund brought its estimate for global growth down to 3.3 percent from 3.7 percent, and reduced its forecast for 2015 to 3.8 percent. The fund pointed to weaker growth in China, Europe, Japan and Latin America Brazil in particular … Continue reading →

Posted in Teaching macroeconomics | Comments Off on I.M.F. Lowers World Growth Forecast

Thanks Jimmy Baldwin, you’re no help

Posted on October 6, 2014 by mkevane

I have not been able to track down the source of this quote attributed to Baldwin: “You write in order to change the world … if you alter, even by a millimeter, the way people look at reality, then you … Continue reading →

Posted in Politics | Comments Off on Thanks Jimmy Baldwin, you’re no help

Feenstra and Taylor fail? (in context of big success)

Posted on October 6, 2014 by mkevane

I am using Rob Feenstra and Alan Taylor’s International Trade (Worth McMillan, 3rd ed) for my International Trade class.  It is a super book… they do trade exactly the way I have been teaching it.  So happy. But you still … Continue reading →

Posted in Teaching international trade | Comments Off on Feenstra and Taylor fail? (in context of big success)

Using quotes in local and global macros in Stata

Posted on October 5, 2014 by mkevane

For some reason I spent a lot of time yesterday doing this: turn a list of variables into a list with doublequotes for each variable, then separated by commas.  I confess I still do not really understand the logic of … Continue reading →

Posted in R statistics | Comments Off on Using quotes in local and global macros in Stata