Archive for April 23rd, 2014

Is Okun’s law dead?

April 23, 2014

Okun’s law became famous as it linked GDP to unemployment. Prof. Okun showed that as GDP declines by 2% unemp rises by 2%. The law became unfashionable till the recent crisis. There people questioned relevance of Okun’s law saying the relationship does not hold anymore as GDP declined by little but unempoyment declined much more. Some said the law was dead.

Mary C. Daly, John Fernald, Òscar Jordà, and Fernanda Nechio of FRBSF look at the recent revisions in the macro data. And say the Law is pretty much alive:

(more…)

Advertisements

Is Sweden headed the Japan way?

April 23, 2014

Things are getting more and more complex. Countries which had recovered post-crisis are slipping. Sweden is the latest entrant to the list. The last reading was at -0.6% fueling debates over deflation in Sweden.

  • Krugman always on red alert to these developments started the debate – one and two .
  • Lars Svensson, former Riksbank MPC member and deflation expert added fuel to the fire. He blames the Riksbank rightaway:

(more…)

How law and economics as a stream/subject developed?

April 23, 2014

Martin Gelter of Fordham University School of Law and  Kristoffel R. Grechenig of Max-Planck-Institute have this nice paper on the topic.

(more…)

Women, Sports, and Development: Does It Pay to Let Girls Play?

April 23, 2014

Barbara Kotschwar of PIIE has this piece on encouraging girls to play sports.

The Policy Brief reviews the evidence that young women and youth in general who participate in sports are more likely to attain educational success and specifically that girls who play sports do better in school, suff er fewer health problems, achieve  more in areas dominated by men, such as science, and hold better jobs as adults. 

Well, a pretty obvious point. I mean discrimination has been so deep and wide, that we need to do many things even to start bridging the divide..

The cycling experiment in NY city- an update

April 23, 2014

Indian cities have more or less abandoned the humble bicycle(though price wise bicycles are no more humble!)  but the west cities are picking it up.  NY city had started an experiment called Citi Bike where one could rent and share the bike across the city.

Nicole Gelinas of City Journal has an article updating on the status of the experiment:

(more…)


%d bloggers like this: