Timothy Taylor Blog | Talkmarkets | Page 1
Managing Editor of the Journal of Economic Perspectives

I am the managing editor of the Journal of Economic Perspectives, based at Macalester College in St. Paul, Minnesota, which can be read for free on-line courtesy of the American Economic Association. I am the author of two books: "The Instant Economist: Everything You Need to Know ... more

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Latest Posts
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The US Dollar In The Global Economy
With the widespread use of the US dollar around the world and the interconnections of the world economy, the Fed has little choice but to accept some responsibility for the availability of US dollars not just in the US economy, but around the world.
The Productivity That Didn't Happen
The bad news is that US productivity growth has been slow for the last 15 years. But at least other high-income nations are doing worse.
GDP: What's Next For Government Statistics?
No one who knows anything about gross domestic product, including economists and government statisticians, thinks it is a broad measure of social well-being.
Young Adults Entering COVID-19 Workforce: A Global View
When the labor market is severely disrupted, two age groups suffer in distinctive ways.
The Productivity Race: US Vs. Germany Vs. Japan
Over the long run of decades, essentially all of the gains in standard of living are due to higher levels of productivity.
US Transportation Infrastructure: Manage Supply Or Demand?
Much of the public discussion over US transportation infrastructure proceeds from the belief that it faces a supply problem which needs to be fixed by updating the old and building more of the new.
The (Semi-Official) End Of The Longest US Economic Expansion
It sometimes comes as a surprise to non-economists, but although the US government publishes a wide array of economic data, it does not attempt to pronounce on when a recession has started or ended.
Exploding US Unemployment Rates: A Peek Inside
A "layoff" could become an empty promise, where most of these workers are not rehired, and instead need to find new jobs in the new socially distancing economy.
Are Firms Too Risk-Averse?
There's a plausible argument that from the point of view of investors, firms are too risk-averse. After all, an investor can diversify across lots of firms.
Fiscal Federalism: An International View
In the US version of fiscal federalism, states and local governments face constraints on their borrowing, while the federal government does not.
Reconsidering The "Washington Consensus" In The 21st Century
The "Washington consensus" has become a hissing and a buzzword over time.
The Bad News About The Big Jump In Average Hourly Wages
Average hourly wages in April 2020 were 7.9% higher than a year earlier, a very high jump. And as a moment's reflection will suggest, this is actually part of the terrible news for the US labor market.
The Federal Reserve Gets Ready To Buy Corporate Bonds
The Fed is starting with $50 billion for the "Primary" fund and $25 billion for the "Secondary" fund. The idea is to then leverage this amount with debt in a 10:1 ratio so that it could end up financing $750 billion in purchases.
Some Thought On US Pharmaceutical Prices And Markets
The problem of the US pharmaceutical industry goes far beyond the standard complaint about high prices.
WTO: Projections For World Trade In 2020
For those who see international trade as a destructive force, the dismal economic news of 2020 comes with as silver lining: as the World Trade Organization puts it, "Trade set to plunge as COVID-19 pandemic upends global economy" (April 8, 2020).
From The IMF: A Baseline Prediction For The Economy In 2020
How bad will the global and the US economy be in 2020?
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