Category Archives: Teaching macroeconomics

Why did the South support the Federal income tax and the 16th amendment? because they understood the Progressive movement all too well

Robin Einhorn on tax redistribution to the South in the United States, “Look Away Dixieland: The South And The Federal Income Tax” in Northwestern University Law Review, 2014. Some facts (and Einhorn has great maps in the paper): Armed with … Continue reading

Posted in Teaching macroeconomics, United States

University of Chicago event on macroeconomy and tax reforms… Roundtable Discussion with Austan Goolsbee and Edward Lazear

Notes on Goolsbee and Lazear Interviewer:  What problems need solving through tax reform Lazear growth rate is way too low growth rate out of recession is low (both recoveries, historical standards) growth related to productivity and related to wages so … Continue reading

Posted in Teaching macroeconomics

Summary of key changes in tax code

Preliminary Details and Analysis of the Tax Cuts and Jobs Act from The Tax Foundation Analysis of Final Tax Reform Legislation, Corporate Perspective Harvard Law School Forum on Corporate Governance Good summary of provisions from Cooley LLP

Posted in Teaching macroeconomics

Productivity growth during WWII in the United States, Alex Field version

My colleague Alex Field presented a working paper on productivity growth legacy of WWII.  Robert Gordon has argued that war production led to huge learning by doing that carried over into manufacturing.  Alex strongly disagrees, amassing lots of data suggesting … Continue reading

Posted in Development thinking, Teaching macroeconomics, United States

Puerto Rico Declares a Form of Bankruptcy

I am sure President Trump with his extensive experience with bankruptcy, and his many friends owning island property, will be deeply involved in the negotiations and eventual resolution.  From NYT. The governor of Puerto Rico, Ricardo Rosselló, said he would … Continue reading

Posted in Teaching international trade, Teaching macroeconomics, United States

Trump and Navarro want to make the U.S. more like China… Why do we want to be poorer?

“More manufacturing.” “Without manufacturing we cannot be a great nation.”  So think about it.  The more like China the United States becomes, the more our average per capita income will drop to $5,000 per person (China’s), instead of $45,000 (ours … Continue reading

Posted in Teaching international trade, Teaching macroeconomics, United States | 1 Comment

Thoughtful interview on Fed policy

Our whole conference has been about anomalies. Some of those anomalies are pretty fundamental. Why has G.D.P. growth been slow? Why has the labor force participation rate come down so much? Why haven’t we hit 2 percent inflation more quickly? … Continue reading

Posted in Teaching macroeconomics