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California, United States · CaliforniaThe work requirements for Medicaid are in the news. All the news coverage I have seen describes this as a morality play. On the right, we shouldn’t give federally paid free health care to “able-bodied” young men who choose not to work. On the left, “people will die!” NPR set me off, of course, with a long bleating story that the paperwork alone to document 20 hours of week of work or training or school or volunteering or whatever is such a burde…Read Article
Work Requirements: Moral Judgements vs. Incentives.
Bank of England · United KingdomThe Bank of England still expects the ongoing rise in UK inflation to fade but is "not sanguine" about it after price growth proved more persistent than anticipated only a few years ago, BoE monetary policymaker Megan Greene said on Saturday. Britain suffered a bigger than expected inflation surge in April - even after taking out an error in the data - prompting investors to bet on the BoE slowing its already gradual pace of interest rate cuts.See the Story
Bank of England Is ‘Not Sanguine’ About Inflation Hump, Greene Says
78% Center coverage: 9 sources
Inflation · AmherstI recently ran in to a lovely paper by Neil White at Amherst, “The new Keynesian Price Puzzle: Reinterpreting Inflation Dynamics.” This post is closely related to my last one on the Lucas Phillips curve and that line of work. Here is White’s Figure 1. These are four famous VARs that measure the effects of monetary policy. On the left you can see how the Federal Funds Rate responds to a shock. Conceptually, suppose the Fed wakes up one day, raise…Read Article
Maybe the price puzzle and NK model are right after all
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