economics

Well, the joke’s on us. As it turns out, machines can do all of those things better, faster, or at the very least cheaper than humans can. The Pew Research Center, the Brookings Institution, and McKinsey and Company all forecast that the workers most likely to see “exposure” to generative AI are more educated and in higher-paid fields such as

Of course it could also be because interest rates are too high, in which case rising income inequality would, presumably by increasing the total amount of savings, cause interest rates to drop. In that case there might indeed be an increase in total productive investment.

I will distinguish between economic policy and the transmission of volatility, and I will argue that policy-making must be constructed in an environment in which excess volatility is kept to a minimum.

As a base case, I don’t expect tariff-related turmoil of a magnitude that was experienced in April of this year, but I do think it could pick up a bit relative to the past month or two.

When the stock market is selling off and the bond market is experiencing high volatility, the administration has a strong incentive to put out the fire. However,

The U.S. government, in other words, does not benefit from lower interest rates by foreign reserve accumulation, although the nature of the reserve accumulation may affect the shape of the domestic yield curve.

We will present two ways to derive the sources of total business profits. The first, the identity method (pages 5-7) relies on a few simple applications of addition and subtraction. It is a quick way to identify the sources of profits and derive an equation for aggregate profits. However, this procedure fails to answer questions about the causal

Wind power in the Lower 48 states produced about 335,753 megawatt hours (MWh) on July 22, the lowest since Oct. 4, 2021, according to preliminary data from the U.S. Energy Information Administration (EIA). When the wind did not blow, power companies usually burn more gas because it is the only big source of power they can turn to quickly to provide

When Beijing’s economic planners do talk about consumption, they tend to do so in relation to industrial aims. In its brief discussion of the subject, the current five-year plan states that consumption should be steered specifically toward goods that align with Beijing’s industrial priorities: automobiles, electronics, digital products, and smart