More in Global Economy


4 months

Who Benefits from Canceling Student Loans?

Student loans are packaged together and then sold as financial securities, just like auto loans and credit card debt and home mortgages.

4 months

Some Economics for Martin Luther King Jr. Day

On November 2, 1983, President Ronald Reagan signed a law establishing a federal holiday for the birthday of Martin Luther King Jr., to be celebrated each year on the third Monday in January.

4 months

The US Economy as 2022 Begins

The Federal Reserve Bank of New York puts out a monthly publication called “U.S. Economy in a Snapshot,” a compilation of figures and short notes about the most recently available major macroeconomic statistics.

4 months

Advice for Academic Writing About Data

As the Managing Editor of an economics journal, I’m always intrigued by advice about what goes into writing a good academic paper. 

4 months

The Fed as Borrower of Last Resort?

Economics textbooks teach that one role of central bank during a financial or economic crisis is to act as a short-term “lender of last resort”: that is, when the financial system is in danger of freezing up in a way that can lead to an expanding vicious circle of defaults–as those who can’t get roll-over loans are unable to repay others, who also can’t roll over their loans, and son on–the central bank makes short-term credit available.

4 months

US Pharmaceuticals: A Bifurcated Market

The US pharmaceutical industry faces two important goals–which conflict with each other.

4 months

The US Labor Market Remains Weak Amid Inflation Spike

The United States December jobs report shows that the labor market remains weak.

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