IIP Update — June 2010

IIP for June 2010 was at 7.1% (y-o-y). It was lower than market expectations of 8.1% (various newswires). The figure for April was revised lower from 16.7% to 16.5%.

Impact of current recession on environment

Matthew Kahn and Matthew Kotchen have written this insightful paper on the topic.

The main thought behind the paper is as recession deepens and hits unemployment, people become less worried over global warming and environment concerns. The worries instead  shifts to unemployment and job issues. This they track using three sources of data – Google analysis, A national survey and a California state specific survey. The questions are asked before and during the crisis. So, one can see that a higher % of people were concerned about environment before the crisis.

Teaching Modern Macroeconomics at the Principles Level – Pre crisis

I had pointed to this interesting Blinder paper on the changes he will make to his textbook after the crisis. 

Here is a John Taylor paper on teaching Modern Macroeconomics at the Principles Level. This was written before the crisis. 

Assorted Links

• Should US brace for deflation. Here is a NYT debate between several economists. (HT: Tyler Cowen)
• IFMR Blog on ‘For-Profit’ companies as Business Correspondents?
• Krugman on The Price Stability Trap
• WSJ Blog points Dallas Fed Research Questions Stimulus
• Stephen Gordon on Canada’s exit strategy
• John Taylor asks Where Are We Now, Three Years After the Onset of the Crsis?
• Mankiw points to a challenge to extreme Keynesian
• Blattman points The future of development economics
• Klein points to list of probable economists for CEA chair as Romer goes
• A Stock-Take on African Public Financial Management
• Menze Chinn on Persistent Large Output Gaps, Disinflation and Deflation