Economists Do It With Models

Warning: “graphic” content…

Entries Tagged as 'Policy'

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What The Fed Does, Now With Pictures…

March 8th, 2010 · 9 Comments
Macroeconomics · Policy

I enjoyed this video about the workings of the Federal Reserve, courtesy of the Federal Reserve Bank of Cleveland. (HT to Tim Schilling)

Cute. It’s also worth noting that it’s potentially just as important to understand what the Fed *doesn’t* do. More specifically…repeat it with me, people, THE FED DOES NOT PRINT MONEY. [...]

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Tags: Macroeconomics · Policy

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When Economics And Politics Collide, Crowding Out Edition…

March 2nd, 2010 · 5 Comments
Macroeconomics · Policy

In addition to teaching economics, I often find myself having to make a pitch for why it’s important to understand economics in the first place. One of the reasons I usually give is something along the lines of “so you don’t have to take on faith what politicians have to say about policy choices.” [...]

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Tags: Macroeconomics · Policy

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A Lesson In “I Shouldn’t Be Surprised That This Exists,” LOLFed Edition…

February 25th, 2010 · No Comments
Just For Fun · Policy

My friend Jeff is organizing a series of “lightning talks,” which are two minute presentations (complete with a PowerPoint deck set to autoadvance in order to enforce the 2 minute rule) about something (hopefully) interesting. He asked me what the title of my talk is going to be, and I told him that I [...]

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Tags: Just For Fun · Policy

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The Dumbest Words I Read Today, And A Lesson On Public Goods…

February 23rd, 2010 · 11 Comments
Econ 101 · Markets · Policy

Apparently the town of Tracy, California has decided that its revenue shortfall should be relieved by charging people for making medical 911 calls. Before I get into the absurdity of this particular plan, let me give you a refresher:

Goods and services can be classified along two dimensions: excludability and rivalry in consumption. A [...]

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Tags: Econ 101 · Markets · Policy

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Two Economists Walk Into A Bar…And I Have No Idea What Happens Next…

February 7th, 2010 · No Comments
Just For Fun · Policy

I’ve posted before about esoteric cartoons, and I will do you the favor of recounting one of my favorite Seinfeld dialogues on the topic:

Elaine: Look at this cartoon in the New Yorker, I don’t get this.
Jerry: I don’t either.
Elaine: And you’re on the fringe of the humor business.
(George comes in)
George: Hey!
Elaine: Hey! George look at [...]

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Tags: Just For Fun · Policy