Ed Dolan's Econ Blog

Archive for May, 2012

  • Economic Follies of the 1960s Echo in the 2012 Presidential Campaign

    The 2012 presidential campaign is gaining momentum. Both sides agree that the economy will be the central issue. Mitt Romney is promising to get unemployment down to 6 percent by the end of his first term and eventually to 4 percent. Barack Obama is hesitant to set a numerical target, having been burned doing that […]

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  • Inflation is Quiet, So Why are People Still Feeling its Pain?

    This week’s report from the Bureau of Labor Statistics shows no change in the seasonally adjusted U.S. consumer price index for April. Real average hourly earnings were also unchanged. On the face of it, those numbers should take inflation off the list of things people have to worry about, but they don’t. Instead, every time […]

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  • How the Latin Triangle Swallowed the Euro

    Back in 1996, Rudiger Dornbusch wrote a paper about the political economy of exchange rates in Latin America. He called it “The Latin Triangle”. It describes a cycle in which governments become trapped in inappropriate fixed-exchange rates that inevitably end unhappily. Latin America has put that particular form of economic instability behind it, but a […]

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  • Looking for the Good News in the April Jobs Report

    The April jobs report from the Bureau of Labor Statistics is not a strong one. Most comments have focused on the bad news, especially the modest 115,000 increase in payroll jobs. If you look hard, there is some good news, too, although not as much or as easy to find as we would like. Start […]

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  • Fracking and the Environment: An Economic Perspective

    When people look at “fracking”—the production of natural gas through hydraulic fracturing techniques–they see different things. Critics see polluted wells, exploding houses, and earthquakes—an environmental disaster in the making. These anti-frackers have a simple solution: ban it. In contrast, industry supporters see hydraulic fracturing as a safe technology that drillers have been using for decades […]

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