Economic research

Is there a recession? Only the National Bureau of Economic Research decides

Data from the Commerce Department this week revealed that the US economy had contracted for a second straight quarter, sparking fresh debate over whether the country was in a recession. Negative growth for two consecutive quarters meets a common definition of a recession – and it is the official way to make such a call […]

Economic system

Yellen says economic system not in recession despite falling GDP

Treasury Secretary Janet Yellen said on Thursday the US economy was in a state of transition, not recession, despite two straight quarters of unfavorable expansion. The recession, Yellen insisted, is a “widespread weakening of our economy” that includes massive layoffs, business closures, family price lines and a slowdown in private sector employment. “That’s not what […]

Economic policy

‘Republican economic policy never works’: ‘The View’ hosts engage in recession shouting match

The co-hosts of “The View” erupted in a shouting match Thursday over Republican economic policies amid concerns of a deteriorating economy. The panel discussed the agreement of Democratic Senator of West Virginia Joe Manchin and Senate Majority Leader Chuck Schumer on the Inflation Reduction Act of 2022which will partly raise corporate taxes while funding climate […]

Economic system

The economic system would seem to like it in a recession, but we still have no idea what to say

In an aerial view, transport boxes slow down on the Port of Oakland on July 21, 2022 in Oakland, California. Truckers protesting California Assembly Bill 5 (AB5) effort legislation shut down operations at the Port of Oakland after blocking entrances to the port’s container terminals for the previous 4 days. An estimated 70,000 independent truckers […]

Economic policy

Rise of Omicron sub-variants skyrocket UK staff absence | Economic policy

The rapid spread of Covid-19 infections over the past month has caused the number of workers taking sick leave to skyrocket, according to official figures, further exacerbating staff shortages and forcing many employers to close parts of their business. Undermining hopes that the BA.4 and BA.5 Omicron subvariants spreading across the UK would mimic the […]

Economic system

U.S. economy shrinks for snap second quarter, raising fears of a recession

The U.S. economy contracted from April to June for a snap second quarter, contracting at an annual rate of 0.9% and raising fears that the country is also on the verge of a recession. The Commerce Department’s Thursday decline in gross domestic product — the broadest measure of the economy — followed a 1.6% annual […]

Economic system

Fed: US economy shrank 0.9% last quarter, its second instant fall

The U.S. economy contracted from April to June for a snap second quarter, contracting at an annual rate of 0.9% and raising fears that the country could also be on the verge of a recession. The Commerce Department’s Thursday decline in gross domestic product — the broadest measure of the economy — followedan annual decline […]

Economic policy

Sunny Hostin clashes with Alyssa Farah Griffin over Republican economic policy on ‘The View’: ‘Makes rich people richer’

View Guest co-host Alyssa Farah Griffin was the ‘skunk at the garden party’ today (her words, not mine) as Sunny Hostin lambasted her for her defense of the trickle-down economy. The argument stemmed from a conversation about Sen. Joe Manchin and Sen. Chuck Schumer reaching an agreement on the Cut Inflation Act of 2022. Co-host […]

Economic study

Nebraska economic study finds state’s ethanol industry continues to grow

The report indicates that the global value of ethanol and its co-products averages around 64% of corn production, 33% of beef production and 131% of soybean production, making ethanol the third most major agricultural industry in the state. Additionally, the economic study found that the ethanol industry continues to add jobs to the Nebraska economy. […]

Economic system

The US economy almost certainly grew slightly in the last quarter and will have shrunk

Economists expect the economic system to have grown slightly in the second quarter, and some expect it to shrivel up. Estimates show that the economic system will have grown by several tenths of a percent. Goldman Sachs expects a 1% rise, while Moody’s Economics forecasts a 1% decline. The gradual expansion forecast sees the 1.6% […]

Economic research

FOMC continues to tighten with another 75 basis point rate hike

What the July Fed statement says: The Fed voted unanimously to raise its benchmark short-term rate an additional 75 basis points in July, the fourth increase of this tightening cycle and the third higher than the quarter-point increase that was typical of previous tightening cycles. While some were expecting a full percentage point increase, like […]

Economic research

Decline in the recovery of new home sales (-8.1% per month)

June 2022 New Home Sales What happened this month: June new home sales data reflect the impact of another month of high mortgage rates and rising inflation. A total of 590,000 new homes were sold in June, down 8.1% from the downwardly revised number in May, led by declines in all regions except the Midwest. […]

Economic policy

Two facets of Trussonomics: tax cuts and interest rate hikes | Economic policy

Liz Truss lacks strong backing for her immediate tax cut plan if she succeeds Boris Johnson as prime minister. Last week, when interviewed on Radio 4 Today, she offered only one name: Professor Patrick Minford. It is therefore not surprising to find a letter in the Daily Telegraph signed by a group of economists endorsing […]

Economic system

Definition of mixed economic system | Global Currency Online

What is a mixed financial system? A mixed financial system is a system that mixes facets of capitalism and socialism. A mixed financial system protects personal assets and allows some financial freedom in the use of capital, but additionally allows governments to interfere in financial actions in order to achieve social goals. In accordance with […]

Economic research

PhD from the African Economic Research Consortium (AERC). 2022/2023 scholarships for young Africans

Application deadline: July 31, 2022 Applications are invited from qualified and motivated applicants for a PhD program in the field of Economics. This programme, supported by the African Economic Research Consortium (AERC), combines the traditional doctoral structure at the School of Economic and Finance (SEF) and a partnership with other universities in Africa. It offers […]

Economic policy

Praise for Australia’s economic policy response to COVID-19

Movements of banking and fintech stocks on the Australian stock exchange in 2020. Credit: Flinders University Australia’s major banking and fintech sectors have been buoyed by the government’s early macroeconomic responses to the challenges posed by COVID-19, new research shows. Financial experts from Flinders University and Griffith University examined the economic lessons learned during the […]

Economic policy

Economic Policy Tensions in Volatile Times – InsuranceNewsNet

United States appears to be in the midst of a major political realignment. Really, this subject is the domain of historians and political scientists, so I will largely limit myself to writing about what this means for economic policy. To be honest, it’s hard to make a considered assessment of where we’re headed. Perhaps the […]

Economic policy

An electoral argument based on passive economic policy is a path to defeat in 2024

4 minute readJuly 19 The Conservative leadership race was remarkable not for what the candidates said, but for what they did not say. Britain has been stuck in a low growth trap for 10 years, facing a recession, approaching an inflationary storm, and no one has a clear economic vision to fix it. What emerged […]

Economic policy

Liz Truss promises biggest economic policy shift in decades if she becomes prime minister

Liz Truss has pledged to bring about the biggest economic change the UK has seen in 30 years in her bid to become the next prime minister. The foreign minister said she wanted a “bold new approach” to tackle the economic crisis facing the country. During the leadership campaign, Ms Truss pledged a radical overhaul […]

Economic research

Barbara Blake Elected to the Board of the Council for Community and Economic Research « News @ ODU

July 15, 2022 Barbara Blake By David Simpson A trustee from Old Dominion University has been elected to the board of the Council for Community and Economic Research (C2ER). Barbara Blake, executive director […]

Economic policy

Larry Kudlow: This is the worst economic policy imaginable in a time of great crisis

FOX Business host Larry Kudlow blasts reckless government spending and reveals why small business confidence is down on “Kudlow.” So, we start tonight with a familiar phrase: Save America, kill the bill. Back-to-back inflation numbers, 9.1% CPI, 11.3% PPI – you don’t want to spend another trillion dollars worsening an already out-of-control inflation rate. Anyone […]

Economic policy

An Economic Policy Rap Battle: Planet Money Summer School : NPR

A student discovers macroeconomics in the darkness of the Great Depression. James Yang for NPR hide caption toggle caption James Yang for NPR A student discovers macroeconomics in the darkness of the Great Depression. James Yang for NPR Find all the episodes of Planet Money Summer School here. Planet Money Summer School is back! It’s […]

Economic policy

“Democratic AI” makes more favorable economic policy decisions

According to a new study, artificial intelligence systems trained to align with human values ​​could be used to develop more popular economic policies. In an article published in Nature Human Behaviour, researchers trained an artificial intelligence (AI) system named “Democratic AI” to design a way to distribute the proceeds of an investment game and found […]

Economic policy

Thatcherite Mythology: Eight Conservative Leadership Candidates in Search of Economic Policy

Michael Jacobs discusses alternative versions of Thatcherite economics proposed by Conservative leadership candidates, which do not reflect the real economic needs of the country today. The Conservative Party leadership election is only days away, but the main battle lines have already been drawn. On one side stands Rishi Sunak, proclaiming his Thatcherite creed of small […]

Economic policy

An economic political rap battle : Planet Money : NPR

A student discovers macroeconomics in the darkness of the Great Depression. James Yang for NPR hide caption toggle caption James Yang for NPR A student discovers macroeconomics in the darkness of the Great Depression. James Yang for NPR Find all the episodes of Planet Money Summer School here. Planet Money Summer School is back! It’s […]

Economic policy

Economic policy in times of volatility

Hicks The United States appears to be in the midst of a major political realignment. Really, this subject is the domain of historians and political scientists, so I will largely limit myself to writing about what this means for economic policy. To be honest, it’s hard to make a considered assessment of where we’re headed. […]

Economic system

Gallagher and Kozul-Wright call for reform of the global economic system

in a new openDemocracy rostrum, Kevin Gallagher – acting dean of the Frederick S. Pardee School of Global Studies, Pprofessor of Global Development Policy at the Pardee School and Director of BU’s Global Center for Development Policy (GDP Center) – and Richard Kozul-Wright, director of the Division of Globalization and Development Strategies at the United […]

Economic system

Our global economic system is in crisis – we need a new Bretton Woods

In 1944, with World War II still raging, US President Franklin D Roosevelt called for a new future for the global economy and the way it was governed. This new global economic system – which included the International Monetary Fund (IMF) and the World Bank – was endorsed by representatives of the Allied Powers in […]

Economic policy

Global economic policy neglects enormous value of nature, warn UN experts

Policymakers do not adequately integrate and value the role of nature in their decision-making, with the pursuit of short-term profits and economic growth all too often coming at the expense of biodiversity and ecosystem services that are essential for the long-term prospects of humanity. That is the sobering conclusion of major new research conducted today […]

Economic policy

India needs a coherent economic policy framework to deal with China

Of course, Cong Je, editor of the Global Times, author of this article, should not be considered the voice of the Chinese administration. But China often uses its public media to convey in undiplomatic language what it really means, and also to float test threat balloons. Cong’s rant came after tax raids in India against […]

Economic policy

Deadlock in the Indo-Pacific Economic Policy Space

In a region that has seen the emergence over the years of multiple forums and agreements with an economic dimension – ASEAN, ASEM, APEC, RCEP, TPPA, CPTPP – the Indo-Pacific Economic Framework for Prosperity (IPEF) could easily join, as one Tweeter Put it, this Asian alphabet soup. The question is whether the IPEF, launched in […]

Economic policy

Iran’s nuclear chief criticizes economic policy, stresses talks

In a surprising move, Iran’s nuclear chief called on the government to take into account the dire economic situation of the people and try to reach an agreement with Washington. In what appears to be the first criticism of the government’s foreign and economic policy in the administration of President Ebrahim Raisi, the head of […]