This link has been bookmarked by 321 people . It was first bookmarked on 18 Jul 2006, by Jim McClintock.
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leticia1021A good place for students to find connections between the realistic world and economic theories. Professor Mankiw also shares his advices for students learning economics at different levels. (And it's free!)
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adagilson silvaGreg Mankiw's Blog; author of Principles of Economics (now in its 8th edition, published by Cengage Learning)
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meenakshidahiyaIt is a very interesting blog where Dr Mankiw picks some news or a topic relevant to the students then analyses it using economic theory.
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25 Aug 15
mohammadzainInteresting Bog Posts on Various economics topics
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mtjwl15“Greg Mankiw's Blog: Random Observations for Students of Economics” is among the most popular Econ blogs in the U.S.; Mankiw is the author of a best-selling university Econ textbook. He is a conservative yet is also known as a “New Keynesian.”
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esmibeconomicsA new blog for me, I picked it up off the IB training blog. I am happy to bookmark it and toss it in to my reads.
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Dana JohnsonBlog of Harvard economics professor and economics textbook writer Greg Mankiw.
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Jimmy Hernandez"As a young man, Ryan held numerous amusing summer jobs, including a stint as an Oscar Mayer salesman in which he drove a Wienermobile. He envisioned eventually going to the University of Chicago for an advanced degree in economics and becoming an economist/academic, but he says he 'kept getting lured into politics.'"
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Rayna LifsonIn studying Economics, it is important to learn a range of viewpoints that economists hold. Mankiw is a foremost conservative economist whose blog is intellectual and well-written. It is useful to compare his view with Krugman's.
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Sean FlynnHarvard Economics professor gives his opinions on the economic issues of the day.
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- The percentage of all hourly-paid workers paid at or below the minimum wage rose from 2.3 to 6.0 percent.
- The percentage of part-time workers paid at or below the minimum wage rose from 5 to 14 percent.
- The percentage of teenage workers paid at or below the minimum wage rose from 7 to 25 percent.
The Increased Role of the Minimum Wage
I am in the process of revising my intermediate macro book. As I was updating the section on the minimum wage, I was struck by how much the data has changed over three years. The minimum wage has a much larger role now than it did three years ago, in large part because of the legislated increase in the minimum wage from $5.15 to $7.25 an hour. For example, comparing the 2010 data with the 2007 data, one finds the following:
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Eldon ZacekA blog written by the author of our textbook, Greg Mankiw. This site contains various opinions and articles written by the professor on different economic topics. This is an excellent supplement to the textbook AP Economics students are reading in class.
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The projected longer-term savings for the legislation also reflect an assumption that the Independent Payment Advisory Board established by H.R. 3590 would be fairly effective in reducing costs beyond the reductions that would be achieved by other aspects of the legislation.
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There has been a lot of talk lately about the CBO scoring of the health bill. Here is one thing people should understand about their numbers: When they estimate the budget impact of a bill like this, they assume the path of GDP is unchanged.
Recall that the bill raises taxes substantially. Some of these tax hikes are the explicit tax increases on capital income to pay for the insurance subsidies. Some of these tax hikes are the implicit marginal rate increases from the phase-out of the insurance subsidies as a person's income rises. Both of these would be expected to reduce GDP growth.
Indeed, to be very wonkish about it, these tax changes could have especially large GDP effects. Some people like to argue that taxes have small GDP effects because income and substitution effects offset each other. But if you give someone a subsidy and then phase it out, both the income and substitution effects work in the direction of reducing work effort.
Why does CBO assume no change in GDP? It is not because the CBO staffers necessarily believe that result. Rather, it is just one of the conventions of budget scoring. Their estimates should come with a warning label:
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David ChildersFormer CEA chair on economic issues and policy
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Philip RothmanIn my view, this is a step in the wrong direction. The tax on so-called Cadillac health plans made sense as a way to reduce the existing tax incentive toward excessively generous health insurance, which in turn encourages excessive use of healthcare. That reform is, apparently, now gone. Instead, the current administration proposal is to increase the tax on capital income, reducing the incentive for saving and investment.
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Fiscal Responsibility
The Washington Post reports:President Obama plans to convene his Cabinet for the first time today, and he will order its members to identify a combined $100 million in budget cuts over the next 90 days, according to a senior administration official....Earlier this month, both chambers of Congress passed Obama's $3.5 trillion budget outline for 2010, which includes unprecedented new investments in health care, education and energy. But the huge budget, which contemplates a $1.2 trillion deficit, has drawn the ire of small-government conservatives, who say that such high deficits jeopardize the nation's economic future.
Just to be clear: $100 million represents .003 percent of $3.5 trillion.
To put those numbers in perspective, imagine that the head of a household with annual spending of $100,000 called everyone in the family together to deal with a $34,000 budget shortfall. How much would he or she announce that spending had be cut? By $3 over the course of the year--approximately the cost of one latte at Starbucks. The other $33,997? We can put that on the family credit card and worry about it next year.
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