@MacRoweNick

Amateur Mechanic. Professional Economist (retired). Better at fixing cars, because I can usually figure out what the designer intended.

 Near Ottawa
worthwhile.typepad.com/worthwhile_canadian_initi/
Joined October 2015
  • Tweets14.3K
  • Following262
  • Followers4.7K
64Media
Nick Rowe retweeted
Garett Jones
@GarettJonesAug 20
So wrong. University leaders must denounce this, as I do.
Nathan Cofnas
@nathancofnasAug 20
I was just suspended by Ghent University. They will almost certainly fire me. The decision was made by rector Petra De Sutter, a former leader of the Green Party.
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Nick Rowe retweeted
Vivek Dehejia
@vdehejiaMay 17
Replying to @vdehejia @MacRoweNick @nfergus @HooverInst
Updated note on my paper with @MacRoweNick : xitter.cf/vdehejia/status/205605… The note does two things: (1) sketches an explicit microfoundation for our reduced form deadweight cost function, establishing that marginal DWC must be convex; and (2) numerical example with our special case.
Vivek Dehejia
@vdehejiaMay 17

The Laffer Curve and Precautionary Taxation: Microfoundations and Quantitative Illustration

Article · @vdehejia
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Nick Rowe retweeted
LorenzoFromOz@LorenzoFromFeb 8
Replying to @LorenzoFrom @Noahpinion @ScottSumnerTMI @GarettJones @GlennLoury @DrSamuelGregg @MacRoweNick @C_Harwick
6. But the reality is that conventional centre-right politicians are being displaced by national populists not because they did not pay attention to economists, but because they did. lorenzofromoz.net/p/why-we-s…

Why we should stop listening to economists on immigration

Unless and until they start analysing immigration like they do monetary policy: that it can be done well, badly, or disastrously.

lorenzofromoz.net
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economicforces.xyz/p/on-pete…

On Peter Howitt's Other Work

Yes, his work on growth is great and deserving of a Nobel. But that is not all!

economicforces.xyz
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Help! We're trying to move Worthwhile Canadian Initiative from Typepad (which is shutting down) to WordPress, but we're told that Wordpress has a maximum import size of 15 MB - our import file is 89 MB. Is there any way around this? (Please RT)
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Krugman gave a huge boost to Worthwhile Canadian Initiative's visibility back in the day, linking often to @MacRoweNick's posts - and once even linking to the discussion in the comments of one of Nick's posts.
Noah Smith 🐇🇺🇸🇺🇦🇹🇼
@Noahpinion11 Dec 2024
Paul Krugman was the greatest of us economics pundits. He will be sorely missed. noahpinion.blog/p/how-paul-k…

How Paul Krugman changed the public face of economics

He's a great economist, but he also changed how we talk about the subject.

noahpinion.blog
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I wrote this WCI post on Mulroney's economic legacy when his memoirs were published in 2007. There are some elements that need updating, but the main points still stand. worthwhile.typepad.com/worth…

Typepad | Network Solutions

networksolutions.com
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A conversation with David Laidler on a distinguished career in macroeconomics thegeneraltheorist.com/2023/…

A conversation with David Laidler

A look-back at a distinguished career in macroeconomics Earlier this year I became, belatedly, acquainted with the work of David Laidler, Emeritus Professor at University of Western Ontario. Having…

thegeneraltheorist.com
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Exactly. Those who claim inflation was low from the 90s because of globalisation not independent central banks need to account for the remarkable coincidence of global forces apparently adhering to a 2% target
Nick Rowe@MacRoweNick31 Aug 2023
Central banks can't (or don't) control inflation perfectly (lags + uncertainty), but this graph would be a big coincidence if you think they can't control inflation at all. (30 years ago the Bank of Canada said it would target 2% CPI inflation.)
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Great piece. New Zealand still doesn't have deposit insurance, but we're likely to be stuck getting it. I still like Rod Carr's old speech to the NZAE, when he was Deputy Governor at RBNZ, warning against deposit insurance. I miss that Rod Carr. rbnz.govt.nz/hub/publication…
Alex Tabarrok
@ATabarrok15 Mar 2023
"Most average people don’t read academic papers and attend lectures at lots of universities, hence you cannot possible expect average people to know that Harvard and Stanford are better that South Dakota State and Western Michigan University." econlib.org/the-wrong-way-to…

The wrong way to think about moral hazard - Econlib

I am continually amazed at the amount of nonsense that I’ve been reading on the subject of moral hazard. Here are a few examples: 1.  Moral hazard played no role with SVB because the shareholders and...

econlib.org
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Thread. This warrants comment. First, it is a mistake--a big one, IMHO--to assume that prices are as sticky, in any direction, in response to supply innovations as they are in response to changes in aggregate demand.
Nick Rowe@MacRoweNick12 Dec 2022
Assume prices are sticky down. A bad apple harvest causes equilibrium relative price of apples to rise, banana prices don't fall, so we get inflation. A good banana harvest also causes equilibrium relative price of apples to rise, so also causes inflation. Doesn't make sense.
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There's a tension between: a) "Immigration alleviates a labour shortage" vs b) "Immigration increases both demand and supply of labour, so doesn't cause higher unemployment or lower wages" (Yes, micro =/= macro, workers and jobs are heterogeneous, but still.)
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Nick Rowe retweeted
Matt Webb@mattdwebb10 Jun 2022
Hey #cdnecon and #cdnpoli, @DerekMikola and I are excited to share our preliminary results on the relationship between legal gun ownership and crimes and deaths in Canada. 🧵 1/
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Nick Rowe retweeted
Matt Webb@mattdwebb20 Apr 2022
Does anyone in #cdnecon happen to know where I can find shape files for a map like this, but for census (sub)divisions rather than ridings? Trying to map the geographic distribution of some variables, but would like to highlight the population dense areas.
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As far as unemployment goes, the disinflation of 1981 was similar in size to the covid shock, and lasted four times as long. So yeah, we worry about keeping inflation under control.
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Russia: From crony capitalism to planned economy in three weeks marketmonetarist.com/2022/03…

Russia: From crony capitalism to planned economy in three weeks

For more than travel 20 years I have worked professionally and travelled extensively in Central and Eastern Europe – including in Russia and Ukraine. My Polish and Lithuanian friends again an…

marketmonetarist.com
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Nominal GDP plotted against a 5% trend
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Here a short piece I wrote with my friend Sam van de Schrootbrugge @Macro_Hive An explainer of market monetarism!
Macro Hive@Macro_Hive1 Mar 2022
In the sixth instalment of our explainer series, Sam van de Schootbrugge & @JuliusProbst define market monetarism, examine nominal GDP targeting versus inflation targeting, and explore how this new monetarist school relates to Milton Friedman’s monetarism: macrohive.com/hive-explainer…
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Some thoughts on the Canadian economy, as the reopening gains momentum. 🧵 #cdnecon
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