Economic Logic

Households with low incomes save little. In one way, this should not surprise us, as their propensity to consume is high because the margina...

Early in the 20th century, the United States took over from the United Kingdom the role of the preeminent economic and political power. Sinc...

The Lucas Critique in 1976 has been a major motivation behind the building of RBC models, the folow-up DSGE models as well as the structural...

"Big data" is the latest buzzword describing the next technological revolution wherein enormous amounts of data can be collected a...

The Arab Spring is the result of growing inequalities and iniquities and has been a wake-up call for the leaders of other countries where a ...

The academic job market is characterized by much uncertainty about the job candidates, at least in Economics where students who have yet to ...

The typically way we model uncertainty is by assuming economic agents know the stochastic process they are facing, and we call this uncertai...

How important are the preschool years for adult outcomes? Empirical evidence from rich countries mostly shows that treatments during prescho...

Large Scale Asset Purchases (LSAPs) of mortgage-backed securities have been a major component of recent monetary policy. It is not without c...

One thing we have learned from the last recession is that the financial sector is quite important, that its dysfunction can have important c...

It is no secret that political connections help your business. The more more regulated or corrupt your economy, the more likely this is to b...

A lot of classes in business schools teach rather fluffy material, especially MBA classes. It is all about entertaining the students who pay...

When I am thinking about Scotland and the average diet of its residents, I am not thinking about fresh fruit. Indeed, obesity rates there ar...

The introduction of containers has dramatically simplified international trade but has been resisted in some ports with even more dramatic c...

I am increasingly annoyed by political campaigns as they are less and less about political issues and more and more about personal issues. T...