My aim in the second post of this series on Thomas Piketty’s Capital in the Twenty-First Century is to talk about the economist’s research accomplishment in reconstructing capital-output ratios for developed countries from the Industrial Revolution to the present and using them to explain why wealth inequality will rise in developed countries.
Look for our next post on March 23.
July 15, 2015
July 14, 2015
Historical Echoes: The Woman Who Would Be Bank
Mary Roebling (1904-94) was the first woman to serve as president of a major U.S. bank.
Posted at 7:00 am in Historical Echoes | Permalink
July 13, 2015
The Survey of Consumer Expectations Turns Two!
The Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE) turned two years old in June.
A Discussion of Thomas Piketty’s Capital in the Twenty‑First Century: By How Much Is r Greater than g?
Maxim Pinkovskiy describes the arguments that Thomas Piketty makes to conclude that wealth inequality will rise and that global capital taxation is needed to stop it, and offers a critical discussion of the arguments.
July 10, 2015
Historical Echoes: The Year of the . . . Pigeon?
One could say that Sesame Street character Bert’s extreme interest in paper clips is misguided, but his obsession with pigeons? Maybe not so much. Pigeons have played a role in financial history, with one such role described by Tony Chen during his walking tour of the Hutong district in Beijing.
Posted at 7:00 am in Historical Echoes | Permalink
July 8, 2015
How Sensitive Is Housing Demand to Down Payment Requirements and Mortgage Rates?
When a household is looking to buy a home, financial considerations are usually very important.
July 6, 2015
Will Silicon Alley Be the Next Silicon Valley?
Jason Bram and Matthew Ploenzke Update: We broadened our definition of Silicon Valley and present more complete data on that region’s trends in the comments section of this post. In the body of the piece, we also corrected the NAICS code for Scientific R&D Services. For at least the past few decades, New York City’s […]
July 2, 2015
Did the West Coast Port Dispute Contribute to the First‑Quarter GDP Slowdown?
Mary Amiti, Tyler Bodine-Smith, Michele Cavallo, and Logan T. Lewis The decline in U.S. GDP of 0.2 percent in the first quarter of 2015 was much larger than market analysts expected, with net exports subtracting a staggering 1.9 percentage points (seasonally adjusted annualized rate). A range of factors is being discussed in policy circles to […]
July 1, 2015
What Do Bond Markets Think about “Too‑Big‑to‑Fail” Since Dodd‑Frank?
As we discussed in our post on Monday, the Dodd-Frank Act includes provisions to address whether banks remain “too big to fail.”
June 29, 2015
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