I'm excited to share this paper we've just published on the new age of economic nationalism.
In the paper, we analyse the convergence of industrial policy and national security in three global superpowers: the US, China, and the EU.
The US has adopted a hawkish stance with…
Euro defence spending has undergone a shift that has gone unnoticed, Euro procurement spend now exceeds US for the 1st time since '45. Its a fundamental shift in levels & type of expenditure. This trend is accelerating due to world events. Thx to @Craig_Caffrey_ for his research
1/12 In 2010, a US gov study warned that rebuilding America's rare earth supply would take 15 years. The 15 years are up. China just proved its leverage by forcing trade concessions from Washington. Meanwhile, Japan quietly solved the same problem.
bloomberg.com/news/newslette…
Trump does not need to remove Powell to control the Fed. A Washington insider explained to me today that a better path for him is opening now: complete control of FOMC.
Regional Fed bank presidents serve five-year terms that expire concurrently on the last day of February in…
One of the strangest results to say from environmental economics: OPEC is GOOD for global emissions. Like, extremely good. OPEC's existence has avoided emissions equivalent to ~20% of the world's carbon budget for 1.5C
*the cartel behavior, not the selling oil behavior
World city tier list by cultural power:
Tier 1) NYC, Paris, London, Tokyo
Tier 2) Singapore, Hong Kong, Shanghai, Beijing, LA
Tier 3) Shenzhen, Amsterdam, Madrid, Berlin, SF, Sydney, Seoul, Brussels, SF, Chicago
When large investors, like Blackstone, enter the housing market in the suburbs, rent prices in the area *DECLINE.* Levels of class and racial segregation also fall.
When large investors, like Blackstone, enter the housing market in the suburbs, rent prices in the area *DECLINE.* Levels of class and racial segregation also fall. https://t.co/pPbWopDRDx
Forthcoming in the JEL: "Income Equality in The Nordic Countries: Myths, Facts, and Lessons" by Magne Mogstad, Kjell G. Salvanes, and Gaute Torsvik. aeaweb.org/articles?id=10…
Democracies only grow faster than autocracies because of personalist leaders. Bad things mainly happen in overcentralized, unchecked regimes, from @cblatts, Scott Gehlbach, and Zeyang Yu nber.org/papers/w34093
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