ATAR Notes: Forum
VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Economics => Topic started by: brendan on October 31, 2007, 03:18:56 pm
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http://www.voxeu.org/index.php?q=node/595
Commentary by Richard B. Freeman, Professor of Economics at Harvard University, on WorkChoices
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Distribution Effects of Labour Deregulation
http://epress.anu.edu.au/agenda/014/02/14-2-A-5.pdf
Taxpaying Made Easy
http://epress.anu.edu.au/agenda/014/01/14-1-A-7.pdf
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I'll start off with the dead weight loss of Christmas - that's right Christmas.
http://graphics8.nytimes.com/images/blogs/freakonomics/pdf/WaldfogelDeadweightLossXmas.pdf
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"you know you are an economist if you think that "supply and demand" is a good answer to the question, "Where do babies come from?""
haha
On a serious note, it is quite true.
http://economics.com.au/?p=213
"Born (Again) on the First of July: Another Experiment in Birth Timing"
http://econrsss.anu.edu.au/~aleigh/pdf/BabyBonusSequel.pdf
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"you know you are an economist if you think that "supply and demand" is a good answer to the question, "Where do babies come from?""
haha
lol. I realised I was an 'economist' (or at least a nerdy economics student) when I was looking forward to Cup Day because of the RBA meeting.
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"you know you are an economist if you think that "supply and demand" is a good answer to the question, "Where do babies come from?""
It is quite true.
http://economics.com.au/?p=213
"Born (Again) on the First of July: Another Experiment in Birth Timing"
http://econrsss.anu.edu.au/~aleigh/pdf/BabyBonusSequel.pdf
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Good Work Bredan, you sure could be one talented economist. ;)
Sticked.
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Thanks.
The dead weight loss of Halloween - http://www.aei.org/publications/pubID.25073,filter.all/pub_detail.asp
Trick or treat anyone?
(http://bp3.blogger.com/_djgssszshgM/Rygl-T4csTI/AAAAAAAAAKw/hRyCYpaTwhs/s400/stagflation_front.jpg)
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Lutz Kilian, "The Economic Effects of Energy Price Shocks", University of Michigan and CEPR, October 28, 2007
http://www-personal.umich.edu/~lkilian/jel102807r1.pdf
Large fluctuations in energy prices have been a distinguishing characteristic of the U.S. economy since the 1970s. Turmoil in the Middle East, rising energy prices in the U.S. and evidence of global warming recently have reignited interest in the link between energy prices and economic performance. This paper addresses a number of the key issues in this debate: What are energy price shocks and where do they come from? How responsive is energy demand to changes in energy prices? How do consumers? expenditure patterns evolve in response to energy price shocks? How do energy price shocks affect real output, inflation, stock markets and the balance-of-payments? Why do energy price increases seem to cause recessions, but energy price decreases do not seem to cause expansions? Why has there been a surge in gasoline
prices in recent years? Why has this new energy price shock not caused a recession so far? Have the effects of energy price shocks waned since the 1980s and, if so, why?'
Olivier J. Blanchard and Jordi Gali, "The Macroeconomic Effects of Oil Shocks: Why are the 2000s So Different from the 1970s?" August 18, 2007
http://www.crei.cat/people/gali/pdf_files/bgoil07wp.pdf
We characterize the macroeconomic performance of a set of industrialized economies in the aftermath of the oil price shocks of the 1970s and of the last decade, focusing on the differences across episodes. We examine four different hypotheses for the mild effects on infation and economic activity of the recent increase in the price of oil: (a) good luck (i.e. lack of concurrent adverse shocks), (b) smaller share of oil in production, (c) more flexible labor markets, and (d) improvements in monetary policy. We conclude that all four have played an important role.
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I'll start off with the dead weight loss of Christmas - that's right Christmas.
http://graphics8.nytimes.com/images/blogs/freakonomics/pdf/WaldfogelDeadweightLossXmas.pdf
? brendan ; says (21:18):
there is a DWL from xmas
? brendan ; says (21:18):
cos ppl buy stuff
? brendan ; says (21:18):
they dont need
? brendan ; says (21:18):
and waste it
collin says (21:20):
nice
collin says (21:20):
tru
collin says (21:20):
lol
collin says (21:20):
teresa, i'm not buying a xmas present for u
collin says (21:20):
i rkn it'll be better for the economy
collin says (21:20):
she'll be like :@
collin says (21:20):
i'll be like: it's for the greater good!
collin says (21:20):
hahaha
? brendan ; says (21:20):
LOL
collin says (21:21):
or even better
collin says (21:21):
wrap up an empty box
collin says (21:21):
and in the card, explain the economic benefit
collin says (21:21):
australia received
DWL stands for dead-weight loss: economic jargon for an economic cost that implies inefficiency.
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LOL LOL LOL LOL LOL good one.
Wow, christmas can have dead-weight loss, never knew til now :D
ROFL again at the convo ;)
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http://www.princeton.edu/~rpds/downloads/Deaton_Aging_and_wellbeing_around_the_world_Aug_07_ALL.pdf
"Average happiness is strongly related to per capita national income; each doubling of income is associated with a near one point increase in life satisfaction on a scale from 0 to 10. Unlike most previous findings, the effect holds across the range of international incomes; if anything, it is slightly stronger among rich countries."
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Supply and demand of babies haha
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[i][b]Harvard College Economics Review[/b][/i]
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Here is what happens when a government simply decides to print money to fund its activities:
http://www.nytimes.com/2007/02/07/world/africa/07zimbabwe.html?ex=1328504400&en=5709ec03b6b62b0d&ei=5090&partner=rssuserland&emc=rss
For the economic theory behind it, see http://en.wikipedia.org/wiki/Quantity_theory_of_money
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The economics of happiness
http://www.washingtonpost.com/wp-dyn/content/article/2007/02/09/AR2007020900963.html
http://sticerd.lse.ac.uk/dps/bpde2004/Rayo.pdf
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http://www.dallasfed.org/news/friedman.cfm
Dallas Fed president and CEO Richard W. Fisher sat down with economist Milton Friedman on October 19, 2005, as part of ongoing discussions with the Nobel Prize winner. In a wide-ranging interview, Friedman and Fisher discuss a myriad of topics, including globalization, China, the Federal Reserve, free trade, government spending and education reform.
Dr. Friedman passed away on Novermber 16, 2006.
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The RBA has realeased its quarterly Statement on Monetary Policy today:
http://www.rba.gov.au/PublicationsAndResearch/StatementsOnMonetaryPolicy/statement_on_monetary_1107.html
http://www.rba.gov.au/PublicationsAndResearch/StatementsOnMonetaryPolicy/Statements/statement_on_monetary_1107.pdf
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Studying is good for you:
http://www.chass.utoronto.ca/cepa/stinebrickner_paper.pdf
"Despite the large amount of attention that has been paid recently to understanding the determinants of educational outcomes, knowledge of the causal effect of the most fundamental input in the education production function - students? study time and effort - has remained virtually non-existent. In this paper, we examine the causal effect of studying on grade performance using an Instrumental Variable estimator. Our approach takes advantage of a unique natural experiment and is possible because we have collected unique longitudinal data that provides detailed information about all aspects of this experiment. Important for understanding the potential impact of a wide array of education policies, the results suggest that human capital accumulation is far from predetermined at the time of college entrance."
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[b]Noam Y. Kirson, "Work, Stress and Health: Some Adverse Effects of Female Labor Force Participation", Harvard University, November 12, 2007.[/b]
"This paper finds a strong positive correlation between female labor force participation and negative health outcomes for middle-aged men and women, and suggests that this correlation is mediated by household-level stress. At the cross-country aggregate level, I show that labor force participation of women is associated with increased mortality rates among both men and women. At the individual level, I find that married men whose spouses work are more likely to die within 10 years, to have high blood pressure and to self-report worse health outcomes. The findings do not appear to be the result of reverse causality. The mortality effects, both aggregate and individual, are especially large for deaths from ischemic heart disease, while weak to moderate for cancer. These findings match well with the medical evidence on the link between stress and health."
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Jeff Borland, "[b]The importance of commerce and commercial principles in determining the well-being of society", [/b]an edited excerpt from his Occasional Address delivered at the graduation on 19 December 2006.
Professor Jeff Borland is Professor of Economics in the Department of Economics of the University of Melbourne
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(http://bp3.blogger.com/_djgssszshgM/Rzr8Hvv1TuI/AAAAAAAAAMA/UpA6QltbPjo/s400/cost_ben.JPG)
Thanks to Greg Mankiw http://gregmankiw.blogspot.com/2007/11/economics-is-everywhere.html
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http://www.people.fas.harvard.edu/~muralidh/Karthik_Muralidharan_JMP_Teacher_Incentives_In_Developing_Countries.pdf
"Performance pay for teachers is frequently suggested as a way of improving educational outcomes in schools, but the empirical evidence to date on its effectiveness is limited and mixed. We present results from a randomized evaluation of a teacher incentive program implemented across a representative sample of government-run rural primary schools in the Indian state of Andhra Pradesh. The program provided bonus payments to teachers based on the average improvement of their students' test scores in independently administered learning assessments (with a mean bonus of 3% of annual pay). Students in incentive schools performed significantly better than those in control schools by 0.19 and 0.12 standard deviations in math and language tests respectively. They scored significantly higher on "conceptual" as well as "mechanical" components of the tests suggesting that the gains in test scores represented an actual increase in learning outcomes. Incentive schools also performed better on subjects for which there were no incentives. We find no significant difference in the effectiveness of group versus individual teacher incentives."
The key to this study is that the bonus payments were not made according to the average of the students' test scores but rather the average improvement of the student's test scores - i.e. a "value-added" measure.
It is commonly argued that giving teachers financial incentives to improve their students test scores would 'dumb down' the learning or cause teachers to 'teach to the test' resulting in lessons that are mechanical in which encourages rote-learning. However, an interesting finding of this study is that, "Incentive schools do significantly better on both mechanical components of the test (designed to reflect rote learning) and conceptual components of the test (designed to capture deeper understanding of the material), suggesting that the gains in test scores represent an actual increase in learning outcomes.".
Furthermore, another problem with this argument is that it does not suggest anything wrong with performance pay itself, but rather it suggests that the curriculum and assessement do not encourage learning. If that is the case, then the solution ought to be reforming the assessment and curriculum so that it does not encourage superficial rote-learning.
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(http://bp3.blogger.com/_djgssszshgM/Rzr8Hvv1TuI/AAAAAAAAAMA/UpA6QltbPjo/s400/cost_ben.JPG)
Thanks to Greg Mankiw http://gregmankiw.blogspot.com/2007/11/economics-is-everywhere.html
:lol:
True!
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Interesting bit of game theory here: [b]Roland Hodler, Simon Loertscher and Dominic Rohner, "False Alarm? Terror Alerts and Reelection", The University of Melbourne, Department of Economics, May 23, 2007[/b]
"We study a game with asymmetric information to analyze whether an incumbent can improve his reelection prospects using distorted terror alerts. The voters? preferred candidate depends on the true terror threat level, and the voters are rational and therefore aware of the incumbent?s incentive to distort alerts. In equilibrium, a moderately ?Machiavellian? incumbent reports low and high threat levels truthfully, but issues the same distorted alert for a range of intermediate threat levels. He thereby ensures his reelection for some threat levels at which he would not be reelected under full information."
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This one is actually quite significant on the costs of smoking:
http://www.nber.org/papers/w13599.pdf
http://kalimna.blogspot.com/2007/11/private-costs-of-cigarette-smoking.html
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Wow, I'm super stunned?! Where do you get all these awesome links and pictures :p Do you have like an economics feed ? :)
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Economics rap song :)
http://brendanduong.blogspot.com/2007/12/bustin-rhymes-about-economics.html
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Wooooah, THAT'S MAD. Downloaded an added to iTunes Playlist ROFL, demand, supply :p [darn can't dl it lol]
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RBA plans to release the minutes of its monetary policy meeting each month from now on.
http://brendanduong.blogspot.com/2007/12/in-media-release-rba-says-that-it-plans.html
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RBA plans to release the minutes of its monetary policy meeting each month from now on.
http://brendanduong.blogspot.com/2007/12/in-media-release-rba-says-that-it-plans.html
Transparency! Good :)
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Yeah, heard it on CNBC about RBA's new transparency policies :)
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[b]An Economic Analysis of a Drug-Selling Gang's Finances[/b]
STEVEN D. LEVITT, University of Chicago; National Bureau of Economic Research (NBER); American Bar Foundation
SUDHIR ALLADI VENKATESH, Columbia University - Department of Sociology
The Quarterly Journal of Economics, August 2000
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Are you left or right?
http://gregmankiw.blogspot.com/2007/12/how-do-right-and-left-differ.html
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lol i think im in between >.< hopefully thats possible!
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Are you left or right?
http://gregmankiw.blogspot.com/2007/12/how-do-right-and-left-differ.html
my post on it: http://brendanduong.blogspot.com/2007/12/are-you-left-or-right.html
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The Economics of Sex
http://www.nytimes.com/2005/12/11/magazine/11wwln_freak.html?pagewanted=all
http://userwww.service.emory.edu/~afranc5/Economics_of_Sexuality.pdf
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Top Economics books in 2007
http://www.nytimes.com/2007/12/19/business/19leonside.html?ref=business
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The economics of crime
http://www.ww.uni-magdeburg.de/bizecon/material/becker.1968.pdf
"Crime and Punishment: An Economic Approach." Journal of Political Economy 76, no. 2 (March/April 1968): 169-217
The economics of religion
http://www.csub.edu/~dberri/IannacconeJEL1998.pdf
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On minimum wages:
In 152 pages David Neumark and William Wasche discusses over 90 recent studies on the effect of minimum wages on employment, including 4 studies from Australia. Their conclusions:
"Minimum Wages and Employment: A Review of Evidence from the New Minimum Wage Research" by David Neumark, William Wascher http://papers.nber.org/papers/w12663
"We review the burgeoning literature on the employment effects of minimum wages - in the United States and other countries - that was spurred by the new minimum wage research beginning in the early 1990s. Our review indicates that there is a wide range of existing estimates and, accordingly, a lack of consensus about the overall effects on low-wage employment of an increase in the minimum wage. However, the oft-stated assertion that recent research fails to support the traditional view that the minimum wage reduces the employment of low-wage workers is clearly incorrect. A sizable majority of the studies surveyed in this monograph give a relatively consistent (although not always statistically significant) indication of negative employment effects of minimum wages. In addition, among the papers we view as providing the most credible evidence, almost all point to negative employment effects, both for the United States as well as for many other countries. Two other important conclusions emerge from our review. First, we see very few - if any - studies that provide convincing evidence of positive employment effects of minimum wages, especially from those studies that focus on the broader groups (rather than a narrow industry) for which the competitive model predicts disemployment effects. Second, the studies that focus on the least-skilled groups provide relatively overwhelming evidence of stronger disemployment effects for these groups."
There is also good evidence that higher minimum wages raise the high school dropout rate.
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Why do stores have clearance sales?
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=998159
'Clearance sales are widely used by firms as an intertemporal selling policy, in particular in markets where firms face demand uncertainty and need to choose capacity in advance. Clearance sales consist in charging a high price initially but then lowering the price in the sales period. High-valuation consumers purchase the good at the high initial price so as to avoid rationing at the low price, while low-valuation consumers wait for the price to drop. We develop a simple model of intertemporal monopoly pricing under demand uncertainty, and show that clearance sales may be the optimal intertemporal selling policy.'
See also:
http://www.nber.org/papers/w1446
http://ideas.repec.org/p/upf/upfgen/331.html
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Economics of Unfair Dismissal laws:
http://econrsss.anu.edu.au/~aleigh/opinion_fulltext2.htm#UnfairDismissals
http://bpp.wharton.upenn.edu/jwolfers/Papers/Role%20of%20Shocks(EJ).pdf
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Economics in Action: using prizes as incentives - http://www.nytimes.com/2007/01/31/business/31leonhardt.html?ex=1327899600&en=4aca8bec1f9a18d3&ei=5090&partner=rssuserland&emc=rss
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Economics for kids
http://www.mises.org/freemarket_detail.aspx?control=579
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Economics of Fashion
http://www.cis.org.au/POLICY/summer%2007-08/potts_summer07.html
Economics of water restrictions
http://www.cis.org.au/POLICY/summer%2007-08/tooth_summer07.html
Economics of health insurance
http://www.cis.org.au/Policy/spring04/spring04-2.htm
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Economics of Love, Marriage and Altruism
http://www.daviddfriedman.com/Academic/Price_Theory/PThy_Chapter_21/PThy_Chap_21.html
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Labour Econmics
http://www.gmu.edu/departments/economics/bcaplan/e321/lab2.htm
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"There were between 250 and 500 million fewer poor in 2000 than in 1970."
http://www.mitpressjournals.org/doi/pdf/10.1162/qjec.2006.121.2.351
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MEASURING AND EXPLAINING MANAGEMENT
PRACTICES ACROSS FIRMS AND COUNTRIES*
http://www.mitpressjournals.org/doi/pdf/10.1162/qjec.2007.122.4.1351
We use an innovative survey tool to collect management practice data from
732 medium-sized firms in the United States, France, Germany, and the United
Kingdom. These measures of managerial practice are strongly associated with
firm-level productivity, profitability, Tobin’s Q, and survival rates. Management
practices also display significant cross-country differences, with U.S. firms on average
better managed than European firms, and significant within-country differences,
with a long tail of extremely badly managed firms. We find that poor
management practices are more prevalent when product market competition is
weak and/or when family-owned firms pass management control down to the eldest
sons (primogeniture).
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Who is Ben Bernanke?
http://www.nytimes.com/2008/01/20/magazine/20Ben-Bernanke-t.html?ex=1358226000&en=de87a47b438cbc15&ei=5090&partner=rssuserland&emc=rss&pagewanted=all
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"New tools needed to make super choices" by Joshua Gans
http://business.theage.com.au/new-tools-needed-to-make-super-choices/20080123-1nr1.html
"Unintended Consequences" by STEPHEN J. DUBNER and STEVEN D. LEVITT
http://www.nytimes.com/2008/01/20/magazine/20wwln-freak-t.html?_r=3&oref=slogin&ref=magazine&pagewanted=print&oref=slogin&oref=slogin
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"Unintended Consequences" by STEPHEN J. DUBNER and STEVEN D. LEVITT
http://www.nytimes.com/2008/01/20/magazine/20wwln-freak-t.html?_r=3&oref=slogin&ref=magazine&pagewanted=print&oref=slogin&oref=slogin
Unintended consequences are a part of what makes economics so insightful. Without an understanding of unintended consequences, some of your goals will be unsuccessful without you having any idea why.
A few examples:
* food and drugs regulations (they prevent useful drugs from coming in earlier, indirectly causing deaths - hurts individual responsibility)
* subsidies on housing markets (that are already facing excess demand)
* blowback (military intervention in Middle East provokes ordinary citizens to support terrorist groups that are hell-bent on attacking free countries)
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Economics of dating/mating:
(http://bp3.blogger.com/_djgssszshgM/Rzr8Hvv1TuI/AAAAAAAAAMA/UpA6QltbPjo/s400/cost_ben.JPG)
http://courses.washington.edu/ssci200/Econ_of_Dating_and_Mating.pdf
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Economic Models explained with cows
SOCIALISM
You have 2 cows.
You give one to your neighbour.
COMMUNISM
You have 2 cows.
The State takes both and gives you some milk.
FASCISM
You have 2 cows.
The State takes both and sells you some milk.
NAZISM
You have 2 cows.
The State takes both and shoots you.
BUREAUCRATISM
You have 2 cows.
The State takes both, shoots one, milks the other, and then throws the milk
away…
TRADITIONAL CAPITALISM
You have two cows.
You sell one and buy a bull.
Your herd multiplies, and the economy grows.
You sell them and retire on the income.
AN AMERICAN CORPORATION
You have two cows.
You sell one, and force the other to produce the milk of four cows.
Later, you hire a consultant to analyse why the cow has dropped dead.
A JAPANESE CORPORATION
You have two cows.
You redesign them so they are one-tenth the size of an ordinary cow and produce twenty times the milk.
You then create a clever cow cartoon image called ‘Cowkimon’ and market it worldwide.
A GERMAN CORPORATION
You have two cows.
You re-engineer them so they live for 100 years, eat once a month, and milk themselves.
AN ITALIAN CORPORATION
You have two cows, but you don’t know where they are.
You decide to have lunch.
A RUSSIAN CORPORATION
You have two cows.
You count them and learn you have five cows.
You count them again and learn you have 42 cows.
You count them again and learn you have 2 cows.
You stop counting cows and open another bottle of vodka.
A SWISS CORPORATION
You have 5000 cows. None of them belong to you.
You charge the owners for storing them.
A CHINESE CORPORATION
You have two cows.
You have 300 people milking them.
You claim that you have full employment, and high bovine productivity.
You arrest the newsman who reported the real situation.
AN INDIAN CORPORATION
You have two cows.
You worship them.
AN IRAQI CORPORATION
Everyone thinks you have lots of cows.
You tell them that you have none.
No-one believes you, so they invade your country.
You still have no cows, but at least now you are part of a Democracy….
AN AUSTRALIAN CORPORATION
You have two cows.
Business seems pretty good.
You close the office and go for a few beers to celebrate
(http://mccharles.gymnasticscoaching.com/wp-content/uploads/2007/07/16288834_dde245baaf.jpg)
Source: http://rickmccharles.com/?p=2221
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SOCIALISM
You have 2 cows.
You give one to your neighbour.
This should be:
The government takes 1 from you and gives it to your neighbour.
The total number of cows in the nation decrease.
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Sin Taxes
http://gregmankiw.blogspot.com/2006/04/sin-taxes.html
How distortionary are taxes?
http://gregmankiw.blogspot.com/2006/11/how-distortionary-are-taxes.html
The invisible hand
http://gregmankiw.blogspot.com/2006/11/happy-thanksgiving.html
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ABS Statistics on Taxation
http://www.abs.gov.au/Ausstats/[email protected]/0/ACE2B395A8657B91CA256A6800820742?Open
"In 2005-06 taxation per capita was $14,551, an increase of 5.5% from 2004-05."
Total taxation revenue as a proportion of GDP was 30.8% in 2005-06
"Taxes on income totalled $176,194 million in 2005-06 and comprised 59.1% of total taxation revenue for all levels of government. Taxes on the provision of goods and services, including goods and services tax (GST), totalled $75,994 million in 2005-06 and comprised 25.5% of total taxation revenue for all levels of government."
So when people talk about cost of living pressures, why doesn't anyone acknowledge the $14,511 elephant in the room?
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Are Tax Cuts Inflationary?
Not necessarily.
If there is a reduction in taxes roughly equal in size to a reduction in government spending then according to simple-minded Keynesian economics, a $1 cut in government spending reduces aggregate expenditure by $1, while a $1 cut in tax payments adds only a fraction of a dollar to spending, the balance being saved which, as every good Keynesian knows, means hoarded under the mattress.
In terms of more sophisticated Keynesian analysis, or simply good economics, savings are not hoarded but are made available to borrowers - either the government or private borrowers, who in turn spend the amount borrowed. Hence, an equal cut in taxes and in spending is neutral in the short run - involving simply a shift from government spending to private spending. In the long run, it is a stimulus - but to output, not inflation. Since that part of private spending that is invested adds to productive capacity and hence to the future supply of goods, it will tend to reduce inflation.
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The importance of information for efficient markets:
http://www.mitpressjournals.org/doi/pdf/10.1162/qjec.122.3.879
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Foreign aid: http://www.youtube.com/watch?v=fDzjfat3MRc
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Outsourcing
http://video.google.com/videoplay?docid=243776768705516584&q=john+stossel&total=329&start=10&num=10&so=1&type=search&plindex=4
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Economics of Love
http://www.marginalrevolution.com/marginalrevolution/2008/02/chapter-2-of-lo.html
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THE ECONOMIC THEORY OF ILLEGAL GOODS:
THE CASE OF DRUGS
http://home.uchicago.edu/~gbecker/illegalgoods_Becker_Grossman_Murphy.pdf
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An interview with Susan Athey.
Athey was awarded the John Bates Clark Medal by the American Economic Association in 2007
http://www.richmondfed.org/publications/economic_research/region_focus/fall_2007/pdf/interview.pdf
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WHY HAS CEO PAY INCREASED SO MUCH?
http://www.mitpressjournals.org/doi/pdf/10.1162/qjec.2008.123.1.49
This paper develops a simple equilibrium model of CEO pay. CEOs have different
talents and are matched to firms in a competitive assignment model. In
market equilibrium, a CEO’s pay depends on both the size of his firm and the
aggregate firm size. The model determines the level of CEO pay across firms and
over time, offering a benchmark for calibratable corporate finance. We find a very
small dispersion in CEO talent, which nonetheless justifies large pay differences.
In recent decades at least, the size of large firms explains many of the patterns in
CEO pay, across firms, over time, and between countries. In particular, in the baseline
specification of the model’s parameters, the sixfold increase of U.S. CEO pay
between 1980 and 2003 can be fully attributed to the sixfold increase in market
capitalization of large companies during that period.
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Protectionism is ugly and racist
http://www.youtube.com/watch?v=6hd8eUzwmqY
Blog post by Steven E. Landsburg
http://www.marginalrevolution.com/marginalrevolution/2004/10/protectionism_r.html
Why protectionism is a lot like racism by Steven E. Landsburg
http://www.forbes.com/forbes/2005/0328/046.html
Steven E. Landsburg, adjunct economics professor at the University of Rochester
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http://www.gapminder.org/world/#$majorMode=chart$is;shi=t;ly=2003;lb=f;il=t;fs=11;al=30;stl=t;st=t;nsl=t;se=t$wst;tts=C$ts;sp=6;ti=2004$zpv;v=1$inc_x;mmid=XCOORDS;iid=NY.GDP.PCAP.PP.KD;by=ind$inc_y;mmid=YCOORDS;iid=SP.DYN.LE00.IN;by=ind$inc_s;uniValue=20;iid=SP.POP.TOTL;by=ind$inc_c;uniValue=255;gid=1004;iid=SP.POP.DPND;by=grp$map_x;scale=log;dataMin=466;dataMax=64299$map_y;scale=lin;dataMin=24;dataMax=82$map_s;sma=50;smi=1.2$inds=
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Talking like an economist
http://www.thecrimson.com/article.aspx?ref=516550
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greenspan on 60minutes
http://v.youku.com/v_show/id_cd00XODYwNTcwOA==.html
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Ben Bernanke at Princeton talking about monetary policy
http://www.youtube.com/v/Pzi7DhKbHOU&rel=1
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The Economics and Psychology of Personality Traits
http://www.roa.unimaas.nl/cv/Borghans/pdfp/eppt.pdf
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An Economic Theory of Suicide - by Daniel S. Hamermesh
http://www.econ.jku.at/halla/downloads/suicide-papers/hamermesh1974.pdf
The Case for Foreclosures - by Steven E. Landsburg
http://www.slate.com/id/2185303/
Thomas Sowell on the politics of trade
http://www.realclearpolitics.com/articles/2008/03/rescuing_the_rust_belt.html
Robert J. Shiller on how bubbles (not the soapy kind) are created
http://www.nytimes.com/2008/03/02/business/02view.html?_r=1&ex=1362114000&en=976c5223d2a702bc&ei=5090&partner=rssuserland&emc=rss&pagewanted=all&oref=slogin
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Videos on Economics
http://freakonomics.blogs.nytimes.com/tag/freak-tv/
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The Economics of Charitable Giving
http://www.nytimes.com/2008/03/09/magazine/09Psychology-t.html?ex=1362718800&en=4b7120438b7207af&ei=5090&partner=rssuserland&emc=rss&pagewanted=all
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http://www.federalreserve.gov/pubs/feds/2007/200744/index.html
http://www.bankofengland.co.uk/publications/speeches/2006/speech284.pdf
http://www.princeton.edu/svensson/und/522/S2006/Blinder%2006%20Bank%20of%20Spain.pdf
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Deal or No Deal
http://www.tinbergen.nl/discussionpapers/06009.pdf
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Interview with Christopher Ruhm
http://www.richmondfed.org/publications/economic_research/region_focus/winter_2008/interview_web_exclusive.cfm
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Austrade's Exporting for the Future Program
http://www.austrade.gov.au/Student-centre/default.aspx