Economic Logic

Having now visited a good number of universities, I have made an observation that plenty of others have also made: Why are so many Economics...

It is well known that life expectancy in the US is lower that what it could be, especially when comparing it to Europe and the Far East, and...

Asset management is difficult because you do not know a lot of things about assets. You have to infer risk and volatility from past behavior...

Western economies face three major challenges: a major drop in fertility, public debt and climate change. It turns out the first two are lin...

I have railed before against the bad practice to use Calvo pricing to represent price rigidities, and here is more support. Fang Yao demon...

Geographic isolation is generally thought to be an impediment to growth. While I do not give too much credit to cross-country regressions, t...

The US academic market is extremely cyclical, because state funding for universities itself is overly cyclical. The reason lies in constitut...

Better property rights should improve credit availability. The reason is that collateral is more credible and better secured. This a weel ac...

As I have expressed before on this blog, I am no big fan of patents and copyrights, and monopoly power in general. I am particularly annoyed...

A lot of western families nowadays have pets at home, and they spend a considerable amount of money on them. Pet animal are a great source o...

The Laffer curve became fashionable among US Republicans in the 1970s and 1980s, leading to the 1981 tax cut that proved that the US was sti...

We have all received these spam emails touting some obscure stock as the next one to surge. And have you not wondered who would fall victim ...

As everybody is well aware of, there are plenty of delinquent mortgages in the United States. It is also quite obvious that a home loses sub...

Suppose the production of some good gets outsourced. Outraged, locals ask their government to retaliate, and one obvious policy is to impose...