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4 months

Superstar Firms and Cities

Imagine two people who have seemingly equal skills and background. They go to work for two different companies. However, one "superstar" company grows much faster, so that wages and opportunities in that company also grow much faster. Or they go to work in two different cities. One "superstar" urban economy grows much faster, so that wages and opportunities in that city also grow faster.

4 months

What Amazon Said, What Amazon Meant

In September 2017, Amazon announced that it was planning to set up a second headquarters. It published a "Request for Proposal" that began:

4 months

Economics of World War I

What we now call World War I was known at the time, and for several decades afterward, simply as the "Great War." It wasn't until the arrival of World War II that World War I was re-christened. The Great War ended 100 years ago on November 11, 1918.

4 months

Global Population Pyramids

The Lancet has just published a recent set of papers from the Global Burden of Disease Study. As it notes: "The Global Burden of Disease Study (GBD) is the most comprehensive worldwide observational epidemiological study to date. It describes mortality and morbidity from major diseases, injuries and risk factors to health at global, national and regional levels. Examining trends from 1990 to the present and making comparisons across populations enables understanding of the changing health challenges facing people across the world in the 21st century." 

4 months

Oil Price Roundtrip, A Headache For OPEC

Oil prices surged into the third quarter due to a combination of factors:

4 months

US Elections: Few Changes, Similar Challenges

The midterm elections in the United States have produced a result that was very similar to what the surveys estimated. The so-called “blue wave”, an expected overwhelming victory of the Democratic Party predicted by some, did not happen. The Democratic Party won 26 seats in Congress, and the Republicans held the Senate, increasing their majority by two representatives. Therefore, these are better Republican results than expected.

4 months

The Tax Cuts and Jobs Act, One Year Later

The Tax Cuts and Jobs Act was signed into law by President Trump less than a little less than year ago, on December 22, 2017. What are the likely benefits and costs associated with the legislation? The Fall 2018 issue of the Journal of Economic Perspectives (where I work as Managing Editor) includes a two-paper symposium on the subject. Joel Slemrod provides an overview of the main elements of the legislation and its effects in " "Is This Tax Reform, or Just Confusion?" (32:4, pp. 73-96). Alan J. Auerbach focuses on one primary aspect of the law, its shifts in the US corporate income tax, in "Measuring the Effects of Corporate Tax Cuts," (32:4, pp. 97-120).

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