BERKELEY — In the United States, the long-term real safe interest rate, the inflation-adjusted return on low-risk investments such as Treasuries, is, in addition to “financial conditions”, the key mechanism influencing both the incentive to build and the balance of net exports (o

BERKELEY — At its monthly meeting on January 31, the Federal Reserve’s (Fed’s) Federal Open Market Committee (FOMC) held firm on interest rates.

BERKELEY — The Google antitrust trial has finally shown just how much the world’s dominant search engine is willing, and able, to pay to be the default on smartphones and other devices: $26 billion in 2021 alone, $18 billion of which went to another tech giant, Apple.

 BERKELEY — Allow me to offer high praise for The Civic Bargain: How Democracy Survives, the new book by the independent scholar Brook Manville and Josiah Ober of Stanford University’s Hoover Institution.

BERKELEY — Suppose that you had invested your wealth in a broadly diversified set of stocks, starting in January 1871, with the dividends being rolled back into your portfolio, and with your portfolio being rebalanced every January to maintain diversification.

BERKELEY — Some of us are more optimistic than others about the future.

BERKELEY — In my view, the most profound and insightful work of political economy written in the 2010s was neither a journal article nor a monograph nor a book in the traditional sense. Rather, it was an online symposium.

BERKELEY — My book on the economic history of the twentieth century, published last fall, did not include a chapter on the question of the future or “what we should do next”, because my frequent co-author, Stephen S.

BERKELEY  —  At the start of February 2022, the five-year, five-year-forward consumer-price-index (CPI) inflation break-even rate in the US bond market was hovering at around 2 per cent per year, a figure that corresponds to a chain-weighted personal-consumption-expendi