Jason Furman
Professor of Practice at Harvard. Teaches Ec 10, some tweets might be educational. Also Senior Fellow @PIIE. Was Chair of President Obama's CEA.
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What are the arguments for using monetary policy vs. fiscal policy for stabilization? In theory they can accomplish the same thing (as noted by @pmichaillat among others in discuss...
The headline inflation numbers are dreadful. Strip away some special factors & they're merely bad. Headline CPI: 1.0% (12.3% annual rate) Core CPI: 0.6% (7.8% annual rate) Easing...
Some people objected to this by saying that the monopoly power of businesses helped shape the govt power that benefited the businesses. I agree that capitalism needs to be saved f...
In the last 4 months core goods inflation has nearly disappeared. But core services has picked up—leaving core inflation roughly unchanged (because core services have 2.7X the weig...
In 2015 there was a policy obsession with "long termism." That issue has fortunately faded--as it should have because it never made much sense as a diagnosis of the problems in our...
A facile argument I see a lot: "Inflation is up everywhere therefore the American Rescue Plan couldn't have added to US inflation." You can make an analogous (& equally facile) ar...
Headline US & Euro area inflation rates have converged. But, the underlying dynamics of the inflation in the 2 economies is different. More painful in Europe. More persistent in t...
Ways in which monetary policy became highly asymmetric (some individually defensible but collectively not, many since abandoned): 1. SINGLE MANDATE. Required maximum employment be...
There is a real debate over a set of technical inflation measures. And then there is a nonsense fantasy universe where people think the government is conspiring to understate infla...
In some absolute sense labor markets are tighter today than they were six months ago but nominal wage growth as measured in the employment report is also lower. Three possibilitie...
The Social Security Trustees continue to forecast an absurdly high interest, leading it to understate the magnitude of Social Security's financing gap. This really needs to be fix...
Increasing older worker's labor supply has been an topic for @nberpubs since the mid-1980s. And they've evidently been very successful! I recently gave a talk there that asked the...