More on US public debt

May 25, 2010

Here’s an impressive infographic by the Chicago Tribune, on the national debt of the United States, 1940-2010.

Found via Visualizing Economics.


The socialist within

May 22, 2010

It’s Friday night in this side of the Western hemisphere, so, what the heck. I think you might find it funny. Here’s a bit of U. S. public debt history.

Does the average tea-party fan know better?

Found via The Big Picture.


Caporale T. and Grier K. (2000) On why the sheriff still matters

December 19, 2009

Caporale, Tony and Kevin B. Grier (2000) Political Regime Change and the Real Interest Rate, Journal of Money, Credit and Banking, 32/3: 320-334.

Intro

A number of influential macroeconomic models, from Keynes to the monetarists, assume that real interest rates (i.e. discounted for inflation) change over time and are sensitive to their political environment, other words that they are policy variant. However this assumption has not been empirically tested, should this assumption be in fact contradicted, it would have important repercussions on these models’ viability. Moreover, the policy-variant hypothesis apparently conflicts with Eugene Fama’s conclusion that the mean of the real rate is essentially constant (p.322). The literature has found to match Fama’s views more closely with reality: real interest rates are “essentially constant over long periods of times but subject to infrequent mean shifts that are not related to policy regime changes”. Read the rest of this entry »


On cognitive functions interrupted (and the growth of two retail corporations in the US)

October 26, 2009

I haven’t been able to write much since the equivalent of a permanent shock affected my production function as well as its slope (break ups are always hard, being the dumpee is even worse, in the long run we are all dead).

I’m slowly regaining use of my cognitive functions. For I don’t want to leave Ben alone in this blog any longer, I thought of posting two maps showing the growth of two retail corporations in the US: Wal Mart (1962-2006) and Target (1962-2008).

This might interest fans of urban and regional economics (or not). Anyway, I promise that the quality of my contributions to this awesome blog will increase. Just have a little faith on me.


On the rise and decadence of Detroit (1950-2009)

September 27, 2009
Detroit, 1950-2009

Detroit, 1950-2009

Time Magazine has an interesting article by Daniel Okrent about Detroit’s fate. What was once known as America’s Arsenal of Democracy and became the fourth largest city in the United States, shows signs of accelerated decay. Unemployment rate is almost 30%, business is all but (almost) shutdown, and the town of Robocop has nothing but a gloomy future. What is relevant in Okrent’s piece is his discussion on the political economy of Detroit’s failure. Populist politicians, overconfident automobile companies and pampered unionized workers intertwined to make of this Michigan city a urban disaster. Check out the pics of Detroit’s remains by Sean Hemmerle. They’re quite scary.


Sylla R. (2008) How Alexander Hamilton founded America (singlehanded)

September 22, 2009

Sylla, Richard (2008) “The Political Economy of Early U.S. Financial Development”, in Political Institutions and Financial Development, ed. Stephen Haber, Douglass C. North and Barry R. Weingast. Stanford: Stanford University Press, 60-91.

Picture 1Picture 2Picture 3

In only seven years, from 1788 to 1795, the US underwent a dramatic financial revolution; starting from scratch and swiftly acquiring all the key components of a modern financial infrastructure. By the time the westward expansion and the industrial take-off were ready to swing into action, a strong financial system was there to back them (p.62). But what allowed the US to develop these instruments? Read the rest of this entry »


More on Lehman Brothers (1850-2008)

September 21, 2009
Before arcane CDOs imploded...

Before arcane CDOs imploded...

The Wall Street Journal presents a neat infographic on the new jobs of Lehman’s executives after its bankruptcy in September 2009.

Found via Chart Porn.