economix.blogs.nytimes.com - 12 days ago
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Since the recession began, inflation-adjusted weekly pay has risen 1 percent. It fell in the downturns of the mid-1970s and early 1980s.
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links for 2009-11-07
Economist's View —
... Administration Rejects Plan to Buy Fannie Mae Credits - NYTimes.com
Wages: A Comparison With Past Recessions - Economix Blog - NYTimes.com ...
Macroeconomic Disconnects
EconLog: Library of Economics and Liberty —
... expectations of inflation. (On this point, he may need help from his new paradigm.) As Sumner points out, I have been arguing most for a different form of disconnect. That is, I see a disconnect between nominal GDP and real GDP. We can raise nominal GDP without raising real GDP, because in a Recalculation the economy acts as if it had suffered a supply shock. Under this view, either monetary or fiscal stimulus will produce more inflation and less employment than one might hope. David Leonhardt is puzzled by the fact that real wages are still edging up, even though we have ...
One of These Things is Not Like the Others
Angry Bear —
... But David Leonhardt, as he does often enough that I hesitate to read his work, again goes beyond the pale today, and clearly does so deliberately. The offending paragraph: ...
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There are a few points I would like to make as well though. Tane says:
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