Author: hubbardobrieneconomics

Does the U.S. Economy Need Another Government Stimulus Package?

In an opinion column on bloomberg.com, Michael Strain of the American Enterprise Institute argues that Congress should pass another stimulus package to supplement the $1.8 trillion Coronavirus Aid, Relief, and Economic Security Act that Congress passed and President Trump signed into law in March. His proposal would involve an additional $1 trillion in spending.

You can read the column HERE. Note that most bloomberg.com articles require a paid subscription, but you can read several articles per month for free.

Does Automation Lead to Permanent Job Losses?

This post on the Federal Reserve Bank of St. Louis’s Page One blog discusses how the belief that automation can lead to permanent job losses is an example of the “lump of labor” fallacy. Click HERE to read the article.

The post refers to the circular-flow diagram, which we discuss in Chapter 2 and in Chapter 18 in the textbook. We discuss the effects of automation and robots on the labor market in Chapter 16.

Attend the Federal Reserve’s session on “Exploring Careers in Economics – Fall 2020” on Wednesday, 11/17/20, at 1:00 PM EST – federalreserve.gov, Twitter, or Facebook Live

Federal Reserve Board and Federal Reserve Education (FRE) will welcome students nationwide via webcast to discuss career opportunities and diversity in economics and to learn about career paths within the Federal Reserve System. Opening Remarks by Governor Lael Brainard, administrative governor of the US Federal Reserve.

The event takes place beginning at 1 p.m. ET on Tuesday November 17, 2020.

Watch the online webcast of the event at http://www.federalreserve.gov/ and YouTube. Twitter and Facebook users can follow the Federal Reserve Board’s feed, @FederalReserve, and www.facebook.com/federalreserve/ and join the discussion about the event by using the hashtag: #FedEconJobs

11/13/20 Podcast – Authors Glenn Hubbard & Tony O’Brien talk with recent Econ graduates – Fernando Zuniga & Greg Mitchell

Authors Glenn Hubbard and Tony O’Brien catch up with two recent Penn State University Economics graduates – Fernando Zuniga & Gregory Mitchell. They discuss their path through their econ courses – what interested them, what they learned, and what’s been helpful as they begin their careers. They also discuss their careers – how they got there and what econ principles have offered insight in their roles. Students and instructors will gain more insight from this conversation around learning economics and the career paths chosen.

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11/06/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economic outlook given where the Presidential election stands.

Authors Glenn Hubbard and Tony O’Brien look at the economic outlook given the current status of the presidential election. Will a divided government lead to economic prosperity or result in more gridlock? They discuss how much the President actually controls economic policy by setting the tone but that other instruments of our government likely have more effect in creating long-term growth in the Economy.

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10/24/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economics of issues raised during the Final 2020 Presidential Debate.

Authors Glenn Hubbard and Tony O’Brien discuss the economic impacts of what was discussed in the final Presidental debate on 10/22/20. They discuss wide-ranging topics that were raised in the debate from reopening the economy & schools, decreasing participation of women in the workforce due to COVID, healthcare, environment, and general tax policy. Listen to gain economic context on these important items. Click HERE for the New York Times article discussed during the Podcast:

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The Wall and the Bridge – an article from Glenn Hubbard in National Affairs.

Advances in technology and expanding international trade have disrupted some key U.S. industries. These developments have made new products available, lowered the prices of existing products, and fostered the creation of new companies and new jobs. Yet, there has also been a downside. Some U.S. manufacturing firms have disappeared and some workers have been left unemployed for long periods. How can economists help frame a discussion about policies that will help everyone participate as the economy continues to evolve? Glenn Hubbard discusses a new approach in his article “The Wall and the Bridge”, published in National Affairs in September 2020.

9/18/20 Podcast – Authors Glenn Hubbard & Tony O’Brien answer questions asked by Principles students from the University of Notre Dame!

Glenn & Tony address questions asked of Glenn during a recent virtual class visit to Eva Dziadula’s Principles of Economics class at the University of Notre Dame. They deal with Glenn’s tenure with the CEA and his feelings on the current challenges facing the CEA. They also discuss career options for Economists and how an economic way of thinking will help in any career.

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9/11/20 Podcast – Authors Glenn Hubbard & Tony O’Brien cover current events, Micro, and Macro! They discuss 9/11, the rising stock market, the challenges facing restaurants, as well as shifts in strategy for the Fed!

Authors Glenn Hubbard and Tony O’Brien continue their weekly discussion about the effects of the Pandemic on the US Economy. They discuss the disconnect between stock market performance and the overall economy. Also, they look at the decision of restaurants to stay open despite struggling to breakeven due to limitations on indoor seating. The Fed’s pivot on the dual-mandate is also discussed as they announce more of their monetary policy focus will be on unemployment rather than inflation.

Over the next several weeks, we will be gearing up this podcast to become an essential listen during your week. Whether your interest is teaching or policy, you will learn from this discussion.

Just search Hubbard O’Brien Economics on Apple iTunes and subscribe!

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9/04/20 Podcast – Authors Glenn Hubbard & Tony O’Brien Welcome Jadrian Wooten of Penn State.

Listen as authors Glenn Hubbard and Tony O’Brien have a wide-ranging discussion with Jadrian Wooten, an economics professor at Penn State University. Jadrian discusses some pedagogical approaches in his online classes, his use of a standing desk in zoom teaching his large classes, as well as the unclear impact of missing college football to the local college economies.

Over the next several weeks, we will be gearing up this podcast to become an essential listen during your week. Whether your interest is teaching or policy, you will learn from this discussion.

Just search Hubbard O’Brien Economics on Apple iTunes and subscribe! Episodes are usually available the next day on Apple iTunes or any other podcast app.

Please listen & share!