Macroeconomic Measurement

April 25, 2018

When the Economy Is Like the Weather

Economic forecasting can frequently be inaccurate because of changing numbers and human bias or, as Yogi Berra reputedly said, "It's tough to make predictions, especially about the future."

March 9, 2018

What Brexit Will Do to the EU Budget

About more than the U.K., Brexit also creates EU budget problems because of the 10 to 12 billion euros that the British will no longer give annually.

February 6, 2018

Searching For an Accurate Statistic

Whether looking at the height of Mount Everest or at the rules of origin that will be renegotiated during the NAFTA talks, we have a statistical accuracy problem.

December 21, 2017

Why We Give The Wrong Gifts

When we receive presents that disappoint us, gift giving creates deadweight loss that diminishes the economic boost from holiday spending.

December 10, 2017

The Economic Yardstick That (We Don’t Know) We Need

Please think GDP for a moment. Reported and revised during each quarter, GDP numbers create a reaction. If the growth rate is high, lawmakers assume their […]