Tag: Greg Mankiw
-
Healthcare, Tradeoffs, and the Road Ahead
Greg Mankiw: Healthcare, Tradeoffs, and the Road Ahead Well, it appears certain that the healthcare reform bill will become law. One thing I have been struck by in watching this debate is how strident it has been, among both proponents and opponents of the legislation. As a weak-willed eclectic, I can see arguments on both…
-
The Poverty Trap
Greg Mankiw's Blog: The Poverty Trap Chapter 20 of my favorite textbook has a section on antipoverty programs and work incentives. One basic point is that when multiple income-based programs are piled on top on one another, the implicit marginal tax rate can reach or even exceed 100 percent. The chart above (source, via Kling)…
-
Why are MD Salaries So High? The Medical Cartel
Carpe Diem: Why are MD Salaries So High? The Medical Cartel Greg Mankiw features the chart above on physicians' salaries in the U.S. vs. various European countries and Canada, showing that MDs in the U.S. make about $200,000, which is between 2 and 5 times as much as doctors make in other countries. How…
-
Deflation Fears Subside
Greg Mankiw: Deflation Fears Subside Here (in blue) is the yield on an inflation-adjusted bond and (in red) the yield on a nominal bond of approximately the same time-to-maturity. The negative inflation compensation that showed up a few months ago (when the blue line was well above the red) has shrunk to about zero. These…
-
It’s No Time for Protectionism
New York Times: It's No Time for Protectionism Greg Mankiw WHAT approach will the Obama administration and the Democratic majority in Congress take on international economic policy? It is too early to say for sure, but the signs so far are worrying. Just before his confirmation as Treasury secretary, Timothy F. Geithner turned up the…
-
Judging Presidents
Greg Mankiw: Judging Presidents A reader asks a good question: What are some useful and objective measures which we can use to judge the performance of President Obama and his new team? How would Greg Mankiw judge Obama four years from now? Consider a related question: How would you judge the competence of a doctor…
-
Fun with Statistics
Greg Mankiw: Fun with Statistics Princeton economist Alan Blinder says Democratic Presidents are better for economic equality between rich and poor. Chicago economist Casey Mulligan says Republican Presidents are better for economic equality between men and women. My take: These articles are completely persuasive, as long as you buy into the axiom that correlation=causation. Otherwise,…
-
Tax rates: Current vs Historical averages
Greg Mankiw's Blog: Tax rates: Current vs Historical averages Do you think the wealthy should assume more of the tax burden for the US? Here is part of a post from Greg Mankiw: A new CBO report gives the effective federal tax rate by income group. These numbers include all federal taxes, not just income…
-
“The Sociology of Economics” Greg Mankiw
Greg Mankiw's Blog: The Sociology of Economics A reader sends this interesting letter: Dear Professor Mankiw, I'm a resident at one of the Harvard hospitals. In the past couple of years I've had the chance to attend a number of inter-disciplinary seminars where you have statisticians, physicians, sociologists, anthropologists, epidemiologists and economists present. I've been…