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3 months

The Utterly Predictable Problem of Long-Run US Budget Deficits

For anyone who can do arithmetic, it did not come as a surprise that the "baby boom generation," born from 1946 up through the early 1960s, started turning 65 in 2010. Here's the pattern over time of the "Daily Average Number of People Turning 65." The jump of the boomer generation is marked.

3 months

Trade Imbalances: US in Global Context

A substantial amount of the discussion of international trade issues starts from the premise that the United States has huge trade deficits and China has huge trade surpluses. But what if only half of that premise is true? Here are a couple of tables on trade balances that I've clipped out of the IMF's World Economic Outlook for April 2019. One shows national trade deficits and surpluses in dollars; the other shows them as a share of the nation's GDP. Of course, the 2019 figures are projections.

3 months

Analysing China's Growth and Inequality

Since 1978, China's share of world population has declined mildly from 23% to about 19%. In those same 40 yeas, China's share of world GDP has risen dramatically from 3% to about 20%. Here's China's share of world population and the global economy since the start of its economic reforms.

3 months

Replacing LIBOR: An International Overview

LIBOR stands for "London Interbank Offered Rate." For a long time, it was probably most common  benchmark interest rate in the world--that is, it was the built into trillions of dollars worth of loans and financial contracts that if the LIBOR interest rate went up or down, the contract would adjust accordingly.

4 months

Market Shares for Browsers and Platforms

Teachers of intro economics, as well as industrial organization classes, are often on the lookout for recent examples of market shares that can be used for talking about the extent to which certain markets are concentrated or competitive. The W3 Counter offers a monthly breakdown of market shares for browsers and platforms. For February 2019, here's a figure for internet browser market share:

4 months

Child Care and Working Mothers

During the 1990s, a social and legal expectation arose in the United States that single mothers would usually be in the workforce, even when their children were young. In turn, this immediately raised a question of how child care would be provided. The 2019 Economic Report of the President from the White House Council of Economic Advisers, offers some useful graphs and analysis of this subject.

4 months

China in Transition - From Manufacturer to Consumer

China is evolving from a current account surplus to deficit country Increased domestic consumption and dis-saving by an ageing population drives the trend  Lower investment in developed countries may be assuaged by major central banks Emerging and Frontier markets will struggle to replace China's long-term investment