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New 09/03/21 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the recent jobs report, Fed comments, and financial stability!
Authors Glenn Hubbard and Tony O’Brien discuss the recent jobs report falling short of expectations. They also discuss the comments of Fed Chairman Powell’s comments at the Federal Reserve’s recent Jackson Hole conference. They also get to some of the recommendations of a Brookings Task Force, co-chaired by Glenn Hubbard, on ways to address financial … Continue reading “New 09/03/21 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the recent jobs report, Fed comments, and financial stability!”
Inflation imposes a number of costs on households and firms (see our discussion in Economics, Chapter 19, Section 19.7 and Macroeconomics, Chapter 19, Section 19.7). Economists call the costs to firms of changing prices menu costs. For instance, when supermarkets raise prices, employees have to spend time changing the prices posted on shelves. When restaurants raise prices, they … Continue reading “Menu Costs in the Digital Age”
WELCOME BACK! New 08/20/21 Podcast – Authors Glenn Hubbard & Tony O’Brien return to discuss delta variant & inflation!
Join authors Glenn Hubbard and Tony O’Brien as they return for a new academic year! The issues have evolved but the importance of these issues has not waned. We discuss the impact of closures related to the delta variant has on the economy. The discussion extends to the active fiscal and monetary policy that has … Continue reading “WELCOME BACK! New 08/20/21 Podcast – Authors Glenn Hubbard & Tony O’Brien return to discuss delta variant & inflation!”
The U.S. inflation rate has accelerated. As the following figure shows, in mid-2021, inflation, measured as the percentage change in the CPI from the same month in the previous year (the blue line), rose above 5 percent for the first time since the summer of 2008. As we discuss in an Apply the Concept in Chapter … Continue reading “What’s Going on with Inflation?”
Glenn co-chairs the Task Force on Financial Stability with Donald Kohn, now a fellow at the Brookings Institution and formerly vice-chair of the Board of Governors of the Federal Reserve. The Task Force on Financial Stability was formed by the Initiative on Global Markets at the University of Chicago and the Hutchins Center on … Continue reading “Glenn and Donald Kohn on the Report of the Task Force on Financial Stability”
The G7 (or Group of 7) is an organization of seven large economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Only democratic countries are included, so China is not a member. At a recent meeting attended by U.S. Treasury Secretary Janet Yellen, the group agreed to adopt a uniform … Continue reading “Glenn’s Take on the Proposal at the G7 Meeting to Impose a Minimum Tax on Corporate Profits”
Glenn wrote the following opinion column for the New York Times. How to Keep the Economy Booming — And Meet the Demand for Workers In recent economic news, optimists and pessimists could both find evidence to support their outlooks. The May jobs report showed a gain of 559,000 jobs in May and a decline … Continue reading “Glenn on Keynes, Hayek, and What It Will Take to Return to Full Employment”
The current debate over monetary and fiscal policy has been particularly wide-ranging, touching on many of the issues we discuss in the policy chapters of the principles textbook. Here are links to recent contributions to the debate. Glenn and Tony discuss fiscal policy in a podcast HERE. And monetary policy in a podcast HERE. … Continue reading “The Debate over Macro Policy”
Supports: Econ Chapter 12, Section 12.4, “Deciding Whether to Produce or Shut Down in the Short Run,” and Section 12.5, “‘If Everyone Can Do It, You Can’t Make Money at It’: The Entry and Exit of Firms in the Long Run”; and Essentials: Chapter 9, Section 9.4 and Section 9.5. Solved Problem: Why Is Starbucks … Continue reading “Solved Problem: Why Is Starbucks Closing Stores in New York City?”
The Financial Times recently interviewed Glenn. Here is an edited version. The full interview can be found here. Financial Times (Gillian Tett, editor-at-large for the United States): Gross domestic product data show that the economy is rebounding very fast from the pandemic; the Federal Reserve just said that it doesn’t intend to raise rates any time soon; and … Continue reading “Glenn Is Interviewed by the Financial Times”
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