Illustrated through word use and data selection in research, politically liberal and conservative economists display a tendency toward confirmation bias.
Macroeconomic Measurement
Expanding How We Measure Inflation
Our CPI measure of the inflation rate has been debated because it could be calculated using a chained CPU, could be real time, and excludes some seniors.
Three Graphs That Tell the Whole Oil Story
Following the law of supply, U.S. shale oil firms will lower output because OPEC is letting price plummet but airlines on demand side like lower prices.
A Bigger (Thanksgiving) Pie or Equal Slices?
Increasing income inequality by moving from communal farming to individual plots, Plymouth Colony Governor William Bradford changed income redistribution.
What An Unemployment Rate Does Not Tell You
A single statistic like the unemployment rate for Japan, the European Union and the U.S. can be misleading until we look more closely at what it represents.
Dodd-Frank: When Is A Law Too Long To Obey?
With debated impact, a little more than half of the thousands of rules necessary for implementing the financial regulation in Dodd-Frank have been written.
The Benefits of Perpetual Federal Debt
Very long term federal debt that has no date for redemption like UK First World War bonds and U.S. Revolutionary War debt depend on good public credit.
How Chinese Economic Growth Relates to Restaurants and Pilots
China might not fuel world economic growth if instead of a 7 percent real GDP growth rate forecast, we use a regression to the mean of 3.9 percent.
The Reason Norway Said No to the Olympics
Because host countries for the Olympics and World Cup spend too much on new stadiums, their subsequent return on investment (ROI) is usually inadequate.
An Economist’s Definition of Misery
While a misery index shows a nation’s inflation and unemployment rates, the eurozone’s high unemployment might create disproportionate unhappiness.