Prof. Mankiw gave us a nice reminder of structural unemployment on Monday. From his post…
As my colleague Erik Hurst and his co-authors have shown, states that had the largest rise in construction as a share of GDP in 2000-2006 tended to have had the greatest contraction in that industry in 2006-2009. These states . . . → Read More: Structural Unemployment
The U.S. economy is hitting its stride and gaining traction. That summarized comments by Fed Officials as Chairman Bernanke testified to the Senate Budget Committee on Friday.
“We have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold,” said the Chairman.
Other Fed officials quickly echoed his . . . → Read More: Bernanke and Fed: Recovery Gaining Traction
The Mortgage Bankers’ Association purchase index was released at 7:00 AM EST, and there was a week to week decrease of 3.7% in the Purchase Index and a week to week increase of 4.9% in the Refinance Index.
At 8:30 AM EST, Secretary of the Treasury Tim Geithner will give a speech to John’s . . . → Read More: Economic Events on January 12, 2011