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BusinessAnalysis and Commentary

Will Mandatory “Unconscious Bias” Training For California Health Workers Actually Reduce Patient Deaths?

by Lee Ohanianvia California on Your Mind
Tuesday, May 7, 2019

California lawmakers are introducing a set of bills that would require state healthcare workers to undergo “implicit bias and racism” training every two years. The reason? Maternal mortality rates among black women are about three times as high as for non-Hispanic white women, Hispanic women, and Asian women. 

In the News

Exploring Strategies For Monetary Policy

Monday, May 6, 2019
Hoover Institution, Stanford University

Top economists and policy makers discussed the efficacy of different approaches to monetary policy at the Hoover Institution on May 3. More than 180 people attended the sixth annual Monetary Policy Conference – titled “Strategies for Monetary Policy: A Policy Conference” – in the David and Joan Traitel Building’s Hauck Auditorium. Hoover economist John Taylor organized the event, which included formal presentations, policy panels, and in-depth discussions by academic researchers, market participants, members of the media, and policy makers from the Federal Reserve.

News
Analysis and Commentary

Mauricio Miller On Poverty, Social Work, And The Alternative

by Russ Robertsvia EconTalk
Monday, May 6, 2019

Poverty activist, social entrepreneur and author, Mauricio Miller, talks about his book The Alternative with EconTalk host Russ Roberts. Miller, a MacArthur genius grant recipient, argues that we have made poverty tolerable when we should be trying to make it more escapable. This is possible, he argues, if we invest in the poor and encourage them to leverage their skills and social networks. Miller emphasizes the importance of self-determination and self-respect as keys to helping the poor improve their own lives.

Analysis and Commentary

Why Capitalism Needs Populism

by Raghuram Rajanvia Project Syndicate
Monday, May 6, 2019

Globalization, digital technologies, and other factors have allowed competitive US corporations to achieve market dominance. If the past is any guide, it is only right that these "superstar" firms should now be challenged by grassroots political movements protesting against an unholy alliance of private-sector and government elites.

Interviews

Charles Plosser: Fed Faces Skepticism Over Proposals To Improve Monetary Strategy

interview with Charles I. Plosservia Bloomberg
Sunday, May 5, 2019

Hoover Institution fellow Charles Plosser discusses the need for the Fed to sync their strategy with communications, and whether the central bankers have the will or the way to implement the fresh strategies they outlined.

Featured

Smith, MMT, And Science In Economics

by John H. Cochranevia Grumpy Economist
Sunday, May 5, 2019

Many blog readers have asked for my opinions of "Modern Monetary Theory." I haven't written yet, because I try to read about things in some detail, ideally from original sources, before reviewing them, which I have not done. Life is short.

In the News

American Economic Association Recognizes Edward Lazear

featuring Edward Paul Lazearvia Stanford News
Sunday, May 5, 2019

The American Economic Association (AEA) has named Edward Lazear the Davies Family Professor of Economics at Stanford Graduate School of Business and the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution, a recipient of its 2019 Distinguished Fellow awards.

Analysis and Commentary

Housing Market And Bank Lending Effects On Young Firms And Local Economies

by Steven J. Davis, John Haltiwangervia VoxEu.org (Centre for Economic Policy Research)
Sunday, May 5, 2019

Young firms live a financially precarious life, often dependent on self-funding tied to the value of the business owners’ homes. This column uses data from the US to show that housing market fluctuations play a major role in driving medium-term changes in young firm employment shares. As young firms hire a disproportionate number of younger and less-educated workers, these groups are disproportionately affected by house price fluctuations.

In the News

The US-China Trade War: Winter Is Coming

quoting Elizabeth Economyvia China Law Blog
Saturday, May 4, 2019

I’ve had a front row seat to China for well over a decade. My law firm started this blog in January, 2006, and we were representing foreign companies in China and the rest of Asia long before that. When we started this blog we were unabashedly optimistic about China, but in the last ten or so years China has gotten more difficult for foreign companies and it has rarely missed an opportunity to prove that its promises to open its economy ring hollow. 

Interest Rates
In the News

US Fed Officials Diverge On Need For Possible Interest-Rate Cut

mentioning Hoover Institutionvia Business Times (Singapore)
Saturday, May 4, 2019

Two Federal Reserve officials laid out the case for a possible interest-rate cut just days after Chairman Jerome Powell said there was no reason to move in either direction. Two other US central bankers sounded more comfortable with the current policy stance.

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Economic Policy Working Group

 
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple