Archive for September 4th, 2010

The impact of Immigration on U.S. economy

September 4, 2010

Giovanni Peri of FRBSF writes a short paper on the topic. In short, immigration is usefuil for US economy.

The U.S. economy is dynamic, shedding and creating hundreds of thousands of jobs every month. Businesses are in a continuous state of flux. The most accurate way to gauge the net impact of immigration on such an economy is to analyze the effects dynamically over time. Data show that, on net, immigrants expand the U.S. economy’s productive capacity, stimulate investment, and promote specialization that in the long run boosts productivity. Consistent with previous research, there is no evidence that these effects take place at the expense of jobs for workers born in the United States.

 A nice crisp on the topic.

Whom to follow – Wicksell, Keynes ,Friedman or Hayek?

September 4, 2010

Axel Leijonhufvud in this short paper talk about the four giant economists.

The short answer to the question in the title 

that your President has set for me is: None of the Above. But there are things of relevance to be learned from each one of them, so I will not stop there. I will first briefly discuss the views of these giants of the profession and then also try to explain how my own diagnosis of our troubles differs from theirs.

Would have loved to expand more on this post. But have no time. So do read the paper for mor details.


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