In a recent Milwaukee Journal Sentinel article (via Pulitzer) Rick Barrett notes “Manufacturing is coming home” to Wisconsin. Does the data support this?
Tracking Wisconsin Manufacturing: Did Tariffs Help?
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“Der Dollar bleibt König”
From FAZ:
Der Euro und der Renminbi können in ihrer internationalen Bedeutung nicht mit dem Dollar wetteifern. Die amerikanische Währung bleibt an den Finanzmärkten der Maßstab.
Some Textbooks
Public Service Announcement, for those who wish to talk intelligently about macro, instead of ranting. Here’s what I use (in response to Steven Kopits asking “What the he** do you teach your students, Menzie”). The following are free use, or older editions that have been superseded by newer.
Consumer Price Index Manual
If you’re going to willy-nilly divide things by random deflators, maybe you should read this (free) manual first.
Are You Better Off than You Were Four Years Ago – Market Based PCE Deflated Consumption
Reader Bruce Hall disparages the use of the PCE deflator for deflating…PCE (Personal Consumption Expenditures) from the NIPA. OK, it’s true that the PCE deflator uses business facing prices, rather than consumer facing prices. Mr. Hall suggests using the CPI. But that has different weights. (It doesn’t make sense to apply a price index with CPI weights to an aggregate with PCE weights — read some price index theory if that is confusing). What to do? What to do?
CPI and PCE Deflator Differential and Differences – Edition LXVII
Reader Bruce Hall writes:
Employment Situation: Slower Employment, Wage, Aggregate Hours Growth
From the Employment Situation Release:
Business Cycle Indicators in March/April: Deceleration?
With the employment situation release, we have a first reading on April conditions.
Consumption per capita Relative to Trend
Are you better of than you expected four years ago? I use trend growth 2016-2019 to figure out what is “expected”.
Guest Contribution: “Elections and Devaluations”
Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. A shorter version appeared at Project Syndicate. He thanks Sohaib Nasim for research assistance.