Tag Archives: inflation

There was a problem during the 7th Godley-Tobin Lecture. I disconnected everyone when I was trying to fix a problem with Professor Stirati's presentation, and I didn't notice until much later. The worst part is that the recording was lost. I'm posting here the PowerPoint presentation for those interested. We will also post the link for the published version of the lecture, which will be open also on the website of the Review of Keynesian Economics (ROKE).

but came in above Wall Street’s expectations, another sign that the Federal Reserve’s path to interest-rate cuts is far from settled. The Labor Department reported Tuesday that consumer prices rose 3.1% in January from a year earlier, versus a December gain of 3.4%. That marked the lowest reading since June. Inflation at 3.1% Reflects “Stubborn Pricing Pressure, Clouding Outlook for Fed Rate Cuts,” msn.com, WSJ article. Open Thread February 6...

It appears like someone is waking up to a reality. When they can, corporations will take advantage of an economic event to increase margins resulting in increasing profits. They will call up and say they are increasing prices, take it or leave it. When your customer is one of the big three, you take it. And, you will not be able to pass along the pricing increase. One scenario, I experienced. Prices are simply the sum of costs and corporate...

from Dean Baker We have been seeing numerous stories in the media about how people support Donald Trump because he did such a great job with the economy. Obviously, people can believe whatever they want about the world, but it is worth reminding people what the world actually looked like when Trump left office (kicking and screaming) and Biden stepped into the White House. Trump’s Legacy: Mass Unemployment The economy had largely shut down in the spring of 2020 because of the pandemic. It...

I listen to a few podcasts during my commute. Two that I often appreciate are Know Your Enemy, associated with Dissent Magazine,* a series of interviews on mostly right wingers by Matthew Sitman and Sam Adler-Bell, and Past, Present and Future, a series of monologues by David Runciman, sponsored by the London Review of Books.  Both are always entertaining and informative. I'm not a specialist in most of the subjects they discuss. However, two recent episodes (or at least I listened to them...

That Argentina is in for a major crisis is, I think, pretty clear and well-known. I won't delve too much on the political aspects of what Finchelstein refers to as wannabe Fascistic tendencies of the new president.  Today a major protest should take place, and the same people that suggested that Peronists groups forced the recipients of social transfers to participate (something that was never proved) under threat of being cutoff, are threatening to cutoff those that participate. You know,...

The talk here. Recording is not the best, and the Power Point cannot be seen. It is available here for those interested. [embedded content]Paper is here. From the abstract:In the overlapping global emergencies of the pandemic, climate change and geopolitical confrontations, supply shocks have become frequent and inflation has returned. This raises the question how sector-specific shocks are related to overall price stability. This paper simulates price shocks in an input-output model to...

Except for fictitious shelter and vehicle repairs, September inflation was moderate  – by New Deal democrat With the main exception of fictitious shelter, consumer inflation in September remained relatively subdued, but as anticipated has stopped decelerating. First I’ll look at the headlines, then the problem children. Total inflation (blue in the graph below) rose 0.4% for the month, but only 0.3% less food and energy (red). Less shelter...

Angry Bear: I have been bugging Daniel to write on occasion for Angry Bear. Daniel did write occasionally and his commentaries were good. I know it is a burden. Well, here is one of Daniel’s comments. A good one as usual . . . I believe the interest costs are part of the story as to the perception of inflation.  Within that, so what if wages kept pace with rising costs (excluding interest), all it means is the person stayed even while hearing how...

Why the public still views inflation as a major problem, despite the official numbers  – by New Deal democrat This is the topic I indicated last week I wanted to write about more at length.  Paul Krugman wrote last week about the disconnect between most economists, who see inflation declining, and voters, who still see inflation as a major concern. Here’s a couple of his tweets: As I wrote last week, the “shrinkflation” in new homes is very...