Author Archives: mkevane

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About mkevane

Economist at Santa Clara University and Director of Friends of African Village Libraries.

J.L Carr’s A Month in the Country

Bill already gave this short novel by J.L. Carr the perfect short review, so there is not much I can add.  Makes you want to learn the names of plants and also become an art restorer, in your spare time.  … Continue reading

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Whatsoever you do, to the “at least as successful as you,” so you shall do unto me?

“We’ve shown that over time, evolution favors strategies to help those who are at least as successful as themselves.” In their study, the team used computer modelling to run hundreds of thousands of simulations, or ‘donation games’, to unravel the … Continue reading

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Burkina Faso tries to raise revenue

$17m in new taxes on housing and imported vehicles, and raising taxes on beer and other beverages, and on lottery winnings. Il est attendu des mesures fiscales annoncées, qu’elles contribuent à l’augmentation des recettes fiscales. Globalement elles devraient contribuer à … Continue reading

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Best post Econ 3402 reading ever!

Bernanke covers practically every topic covered in my summer Macroeconomics class.  Great summary discussion!  Thanks Vic Chia for the pointer. Estimates of potential output growth (y*) have declined primarily for two reasons.  First, potential growth depends importantly on the pace … Continue reading

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Bank of England thinks impact of Brexit is pretty bad

The short-term impact [of Brexit], however, has been largely negative. In the weeks since the vote, the pound has fallen sharply, and stocks in a number of sectors, including banking and construction, have been under pressure. Several real estate funds … Continue reading

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Jobs and wages in the United States: Finally some policy debate

A student shared a recent oped by Alan Blinder at the WSJ. Andrew, Thanks for sharing! Something like this should be on the final, right? 😉  Actually, this is more about micro-level policies and supply side policies that we have … Continue reading

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Are we in a nation-wide housing bubble?

Maybe?  The 20-city Case-Shiller index suggests that while nation-wide prices are rising rapidly (about 10% a year) for the past three years, we are still pretty far away from a bubble.  But the peak back in 2006 was really high, … Continue reading

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 IMF quota and governance reforms were finally approved by members earlier this year

The IMF’s 2010 quota and governance reforms have finally become effective and will give emerging markets like BRICS more power and greater say at the lender of last resort. “The conditions for implementing the International Monetary Fund’s 14th General Quota … Continue reading

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Why is higher inflation worse than lower inflation?

Fredrik Wulfsberg’s analysis of Norwegian data suggests it is because when inflation gets higher (i.e. 10-15% range) firms change prices much more frequently, and so presumably this is more confusing for consumers. The main result in this paper is that … Continue reading

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Total Factor Productivity growth accounts for all growth in U.S. agriculture according to USDA

The TFP indexes reveal the dramatic contraction of labor in the farm sector. Agricultural land, a component of capital, also fell steadily, except for a brief cessation in the 1970s, and by 2004 amounted to less than three-quarters of its … Continue reading

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Bad news on GDP growth (very slow) and business investment continues to drag

Based on more complete information about recent years, the government also revised last year’s growth rate up slightly to 2.6 percent — the best so far since the severe recession ended in 2009. But that’s still well below the gains … Continue reading

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“The Story of a Scar” by James Alan McPherson

Originally posted on Michael Kevane:
Last night I read “The Story of a Scar” by James Alan McPherson, and I have to say that it is an excellent short story.  The dialogue is gripping, and the characters sympathetic.  I wasn’t…

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Growth accounting West Africa

The results show that during the period 1980–2012, with the exception of Nigeria and Cote d’Ivoire productivity growth was not the hardcore of the growth observed in the ECOWAS countries but the growth was driven by factor accumulation. In addition, … Continue reading

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U.S. savings rate vary by age

Nice graphic from WSJ.  The source and article worth reading is here.

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Dollar declines

The dollar had been strengthening against the euro the past few weeks, but the “soft” Fed meeting statement caused the market to reverse the recent gains.  (Gains for me, because our expenses at Friends of African Village Libraries in Burkina … Continue reading

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Fixed exchange rate arrangements per IMF 2014

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Kordofan Invaded rocks on…

Endre Stiansen and I edited Kordofan Invaded: Peripheral Incorporation and Social Transformation in Islamic Africa almost 20 years ago (it was published in a beautiful typography and layout volume by Brill in 1998).  Here is my favorite review of the … Continue reading

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U.S. economy looking decent for remainder of year

The Federal Reserve left its benchmark interest rate unchanged on Wednesday, but it issued an upbeat assessment of economic conditions that suggested a growing chance that it would increase rates later this year.The Fed, in a statement after a two-day … Continue reading

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Emily Wolfe… honest profile

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Emily Wolfe in San Francisco Tuesday August 3, Bottom of the Hill

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