FET (old posts)

I've started Truman F. Bewley's book Why Wages Don't Fall During a Recession .  The book reports Bewley's research program t...

Believing that the next generation of economists will be for more rigorous and honest about their research keeps me happy. Today I’m no...

Back in May 2013 I called the end of Australia's slow melt in home prices.  I based this call on a number of market measures, but the c...

One thing I find surprising about economics is the misuse of models as tools for reasoning. Think about the basic micro-models. Wha...

The ‘standard’ urban economic model is based on Alonso, Muth and Mills combined work in the 1960s to fashion a mono-centric urban space...

I have often railed against the economic approach to social organisation problems which can be described as ‘assume first ask quest...

Aussie econ blogs are all having a go at deciphering the debate about government sponsored paid parental leave in the lead up to the the Fed...

Random things that have been on my mind Security theatre   ...and to be honest, theatrical displays more generally in society. By this I me...

Mankiw's  Principles of Economics , the most widely used introductory economics textbook, can be held high as an iconic symbol of what i...

I was motivated by this article in The Economist about housing costs in London to really dig down to how most economists think about housi...