The New Normal in Oil and Natural Gas Prices
Tue, Sep 7, 8:43 PM ET, by Donald Marron
In previous posts (most recent here), I noted that oil and natural gas prices have ...

August Rail Traffic, An Upbeat Economic Indicator
Mon, Sep 6, 9:13 AM ET, by Donald Marron
August was a busy month for America’s railroads, according to the Association for American Railroads. ...

Another Observation on the Yield Curve
Sun, Aug 29, 8:33 PM ET, by Donald Marron
As a follow-up to my recent post about recessions and the yield curve, reader Joan ...

Further Signs of a Slowdown
Fri, Aug 27, 6:23 PM ET, by Donald Marron
As expected, BEA’s second stab at GDP growth for the second quarter was even less ...

The Yield Spread and the Odds of Recession
Thu, Aug 26, 11:13 PM ET, by Donald Marron
Worries about a double-dip recession have spawned much economic commentary … and a humorous country ...

Investors Should Be Prepared to Face Financial Oppression
Wed, Aug 25, 10:33 PM ET, by Donald Marron
That’s the conclusion of a new report by Morgan Stanley analyst Arnaud Mares. And what, ...

A New Price Tag for Stimulus: $814 Billion
Tue, Aug 24, 11:13 PM ET, by Donald Marron
Last week the Congressional Budget Office released updated budget projections — atreasure trove of information ...

No, the Web Isn’t Dead (Yet)
Mon, Aug 23, 10:53 PM ET, by Donald Marron
Wired’s cover story this month, “The Web is Dead,” features the following chart showing the ...

Double Dippin’
Sun, Aug 22, 10:33 PM ET, by Donald Marron
I am more than a week behind on this, but in case you missed it, ...

I Found What I Was Looking For …
Sun, Aug 22, 10:13 PM ET, by Donald Marron
Just back from eight days in southeast Alaska. I won’t torment you with too much ...

Fiscal Policy in Interesting Times
Mon, Aug 16, 0:13 AM ET, by Donald Marron
Back on August 5, I gave a speech at the Retirement Research Consortiums annual conference ...

It’s Back-to-School Season, Time to Lay Your Bets
Tue, Aug 10, 9:13 PM ET, by Donald Marron
According to an article over at the Huffington Post (ht Natalie), students at 36 colleges ...

“Tracking” the Economy
Mon, Aug 9, 7:53 PM ET, by Donald Marron
The fine folks at the Association of American Railroads are out with their latest edition ...

House Prices: Demographics Giveth and Taketh Away
Fri, Aug 6, 5:23 PM ET, by Donald Marron
Over at the Bank for International Settlements, Elod Takats has a new working paper that ...

The Chevy Volt Premium
Thu, Aug 5, 7:13 PM ET, by Donald Marron
The other day I noted that Amazon has been tussling with book publishers over the ...

Three A’s of E-Book Pricing: Amazon, Apple, and Antitrust
Tue, Aug 3, 8:33 PM ET, by Donald Marron
A few months ago, I noted that Amazon and book publishers were tussling over the ...

We’re Still #1 (Unfortunately)
Mon, Aug 2, 0:33 AM ET, by Donald Marron
The Bureau of Economic Analysis rewrote history on Friday. Along with GDP data for the ...

A Silver Lining in Second Quarter GDP?
Sun, Aug 1, 7:13 PM ET, by Donald Marron
Last Friday the Bureau of Economic Analysis released its first look at GDP growth in ...

The Cocoa Corner: Is Choc Finger Down $150 Million?
Sun, Jul 25, 10:43 PM ET, by Donald Marron
In a front page story on Sunday, the New York Times suggests that commodity investor ...

What’s the Best Voting System?
Fri, Jul 23, 11:43 AM ET, by Donald Marron
Last February I highlighted a New Yorker piece about instant runoff voting (IRV) in awarding ...

A New Low in Home Construction
Wed, Jul 21, 0:13 AM ET, by Donald Marron
Yesterdayshousing data were suitably glum, with single-family starts and permits both down (0.7% and 3.4%, ...

Merle Hazard Goes to the Parthenon
Tue, Jul 20, 12:13 PM ET, by Donald Marron
… in Tennessee, that is. But he’s singing about Greek debt: Given all the recent ...

What To Do With Fannie and Freddie?
Mon, Jul 19, 9:33 PM ET, by Donald Marron
asked several experts to recommend options for resolving Fannie Mae and Freddie Mac, the two ...

Testimony on the 2001 and 2003 Tax Cuts
Fri, Jul 16, 5:23 PM ET, by Donald Marron
As you may have heard, the tax cuts that were originally enacted back in 2001 ...

The End of Cap and Trade?
Mon, Jul 12, 10:53 PM ET, by Donald Marron
No, not for carbon. For sulfur dioxide. ...

The Hot Tentacle
Sun, Jul 11, 6:33 PM ET, by Donald Marron
The World Cup started with vuvuzelas and ended with Paul the octopus. The world’s most ...

How to Defeat the Lionfish? Use Your Knife and Fork
Thu, Jul 8, 0:43 AM ET, by Donald Marron
As regular readers know, I am intrigued by animals in weird places (voles in the ...

Why Taxes Are Going Up
Wed, Jul 7, 12:13 PM ET, by Donald Marron
Its hard to imagine that spending restraint alone can solve Americas long-run fiscal woes. Facing ...

A List of the Top 50 Economic Theories
Mon, Jul 5, 0:33 AM ET, by Donald Marron
Last year, the Ivy Press asked me to help them with a popular book about ...

Listen to the Declaration of Independence
Sat, Jul 3, 6:33 PM ET, by Donald Marron
Read aloud by the announcers on NPR. My favorite part? The concluding lines: And for ...

How Bad is the Budget Outlook?
Thu, Jul 1, 11:23 AM ET, by Donald Marron
The Congressional Budget Office offers two visions of the future in its new long-run budget ...

The Rise and Fall of World House Prices
Tue, Jun 29, 9:43 PM ET, by Donald Marron
The Bank for International Settlements has a great chart of house prices in its latest ...

Gaming the Budget Window
Wed, Jun 23, 4:13 PM ET, by Donald Marron
Faced with continuing gridlock over a soup-to-nuts extenders bill, congressional leaders have gotten creative ...

Expeditionary Economics
Sun, Jun 20, 2:33 PM ET, by Donald Marron
The U.S. military is now a major player in economic development. ...

Vuvuzelas, Afghanistan, and Fannie and Freddie
Thu, Jun 17, 8:53 PM ET, by Donald Marron
Updates on some previous posts:Some broadcasters are filtering the dreaded vuvuzela.More home filtering advice for ...

“Legal Tender” by Merle Hazard
Thu, Jun 17, 1:33 PM ET, by Donald Marron
Sung to the tune of “Love Me Tender” which turns out to have been based ...

The Budget Uncertainties of Health Reform
Wed, Jun 16, 5:23 PM ET, by Donald Marron
Back in March, the Congressional Budget Office (CBO) estimated that the new health legislation would ...

Afghanistan and the Resource Curse
Mon, Jun 14, 10:33 PM ET, by Donald Marron
Yesterday, the New York Times reported that the United States has identified “vast mineral riches ...

The Vuvuzela Externality
Sun, Jun 13, 5:13 PM ET, by Donald Marron
Thus far, the top three stories of the World Cup are (3) Germany looks strong, ...

Borrowing from One Pocket to Lend to the Other
Sat, Jun 12, 11:13 AM ET, by Donald Marron
Public pensions funds are the key budget challenge facing many state and local governments. Why? ...

A Small Step toward Tax Equality for Same-Sex Couples
Wed, Jun 9, 3:43 PM ET, by Donald Marron
A trio of recent IRS rulings (here, here, and here) has rekindled debate on how ...

Underemployment Fell in May
Sun, Jun 6, 10:13 PM ET, by Donald Marron
The headline jobs report on Friday was disappointing, as temporary Census workers accounted for almost ...

Fannie & Freddie Reform Gets a Boost from the Washington Post
Sat, Jun 5, 11:23 PM ET, by Donald Marron
Sunday’s Washington Post has an encouraging editorial about the Fannie Mae and Freddie Mac reform ...

How Blurry is the Line between Monetary and Fiscal Policy?
Wed, Jun 2, 5:33 PM ET, by Donald Marron
Economists have traditionally drawn a sharp distinction between monetary and fiscal policy. Monetary policy should ...

“Matterhorn” by Karl Marlantes
Mon, May 31, 9:13 AM ET, by Donald Marron
To commemorate Memorial Day,let me recommend”Matterhorn: A Novel of the Vietnam War” by Karl Marlantes. ...

Consumer Spending is Not 70% of the Economy
Thu, May 27, 6:53 PM ET, by Donald Marron
Journalists, commentators, and economists often say that consumer spending makes up 70% of the U.S. ...

What Should We Do with Fannie and Freddie?
Sun, May 23, 9:53 PM ET, by Donald Marron
The past few years have demonstrated that Fannie Mae and Freddie Mac, the two mortgage ...

The First Vole of the United States (FVOTUS)
Fri, May 21, 9:13 PM ET, by Donald Marron
I’ve enjoyed the hullabaloo over the rodent that upstaged President Obama during his remarks on ...

How Would You Tame the Debt?
Thu, May 20, 10:43 PM ET, by Donald Marron
OK everyone, put your hands down. And put that confidence to the test by clicking ...

Single-Family Home Construction is Still Flat
Tue, May 18, 9:13 PM ET, by Donald Marron
Todayshousing data are again driving some optimistic headlines. Most notably, new starts of single-family homes ...

Financing Needs of Advanced Economies Remain Exceptionally High
Sun, May 16, 2:13 PM ET, by Donald Marron
The International Monetary Fund released its latest Fiscal Monitor last week. As expected, the headline ...

A Gray Whale Goes Really Off Course
Wed, May 12, 7:23 PM ET, by Donald Marron
Gray whales usually live along the eastern and western edges of the northern Pacific. Except ...

Speculating on the Greek Crisis, Internet Edition
Mon, May 10, 5:43 PM ET, by Donald Marron
At the recent Milken Conference, I attended a panel moderated by Mike “Zappy” Zapolin. His ...

Advice to Nasdaq and the NYSE: Cancel Only 90% of the “Erroneous” Trades
Sun, May 9, 6:43 PM ET, by Donald Marron
Nasdaq and the New York Stock Exchange have both announced that they will cancel many ...

Jobs Rebounding Faster at Large Employers
Wed, May 5, 6:13 PM ET, by Donald Marron
In testimony before Congress’s Joint Economic Committee today, Treasury Assistant Secretary Alan Krueger provides further ...

The Looming Budget Battle over the Bank Tax
Tue, May 4, 4:33 PM ET, by Donald Marron
Treasury Secretary Tim Geithner appeared before the Senate Finance Committee today to push the Administration’s ...

Energy Use and Waste in the United States
Sat, May 1, 8:13 PM ET, by Donald Marron
The latest Technology Review has a great information graphic showing the sources and uses of ...

Can Greece Cut Its Deficit by 10% of GDP?
Sat, May 1, 1:53 PM ET, by Donald Marron
Greece needs money fast. The International Monetary Fund (IMF) and members of the Euro-zone have ...

Consumers Boosted GDP in Q1
Fri, Apr 30, 9:13 AM ET, by Donald Marron
The Bureau of Economic Analysis released its first look at Q1 GDP growth this morning. ...

Greece, the Other PIIGS, and “The Chastening”
Wed, Apr 28, 6:53 PM ET, by Donald Marron
The Chastening.” The book recounts how the International Monetary Fund (IMF) and the G-7 nations ...

Talking about the Economy at Milken
Tue, Apr 27, 6:53 PM ET, by Donald Marron
This morning I participated in a panel discussion at the Milken Global Conference about the ...

A Useful Primer on Derivatives Regulation
Fri, Apr 23, 4:23 PM ET, by Donald Marron
Bob Litan of the Brookings Institution recently penned an excellent overview of the issues surrounding ...

Financial Literacy and the Subprime Crisis
Thu, Apr 22, 10:33 AM ET, by Donald Marron
A new working paper from the Atlanta Fed identifies a key reason why some subprime ...

An Unusual Battle Between Amazon and Publishers
Wed, Apr 21, 7:13 PM ET, by Donald Marron
Over at the New Yorker, Ken Auletta has a fascinating piece about the future of ...

How Did Treasury Vote Its Citigroup Shares?
Tue, Apr 20, 4:53 PM ET, by Donald Marron
The United States Treasury isCitigroup’s largest common shareholder, owning 7.7 billion shares, or about 27% ...

Web Coupons, Privacy, and Price Discrimination
Sat, Apr 17, 9:53 PM ET, by Donald Marron
Suppose you’ve got a successful business, selling your product to a diverse set of customers. ...

Single Family Construction Still Flat
Fri, Apr 16, 10:13 AM ET, by Donald Marron
Today’s housing data are driving some optimistic headlines about the 1.6% increase in housing starts ...

The Second Rule of Hospitals
Fri, Apr 16, 1:13 AM ET, by Donald Marron
The first rule of hospitals is to try to stay out of them. Unfortunately, that ...

Rail Traffic Up in March
Thu, Apr 15, 0:13 AM ET, by Donald Marron
The Association of American Railroads publishes an excellent monthly compendium of economic data called Rail ...

Three Principles for New Tax Policy
Wed, Apr 14, 0:23 AM ET, by Donald Marron
The folks over at Our Fiscal Future asked me to write a short piece to ...

My New Gig
Tue, Apr 13, 10:33 AM ET, by Donald Marron
I am happy to announce that I will become the director of the Urban-Brookings Tax ...

Ultra Trouble for the Ultra Low Cost Airline?
Mon, Apr 12, 1:13 PM ET, by Donald Marron
Last week Spirit Airlines announced that it would start charging fees for carry-on bags this ...

Rethinking Oil and Natural Gas Prices
Fri, Apr 9, 10:33 AM ET, by Donald Marron
My recent post about oil and natural gas prices elicited some very constructive responses from ...

1.2 Million Fewer Households, More Overcrowding
Wed, Apr 7, 7:53 PM ET, by Donald Marron
During the initial years of the housing downturn, optimists sometimes offered the following argument: “Everyone ...

Spirit Airlines Combats the Tragedy of the Overhead Bin
Tue, Apr 6, 8:33 PM ET, by Donald Marron
As any frequent flyer knows, the competition for overhead space is tight. As I noted ...

Oil and Natural Gas Prices Disconnect Again
Thu, Apr 1, 6:53 PM ET, by Donald Marron
Last summer I noted that oil and natural gas prices had diverged to an unprecedented ...

Microlending Comes to Washington
Wed, Mar 31, 0:13 AM ET, by Donald Marron
Banks continue to be reluctant to lend to small businesses. As a result, NPR reports ...

Pigou and the Plastic Bag
Tue, Mar 30, 10:13 AM ET, by Donald Marron
The big news in Washington today are the early returns for the new DC bag ...

Tax Loopholes, Wealth Destruction, and Health Reform
Sun, Mar 28, 0:13 AM ET, by Donald Marron
AT&T, Caterpillar, Deere, and Verizon garnered headlines last week (and an unwelcome summons to Capitol ...

Inventories Still the Growth Story in Q4
Fri, Mar 26, 9:53 AM ET, by Donald Marron
The Bureau of Economic Analysis has released its third look at the economy in the ...

About that Government Takeover of the Student Loan Business …
Mon, Mar 22, 0:13 AM ET, by Donald Marron
Health care understandably dominated the headlines leading up to — and beyond — yesterday’s historic ...

One Last (?) Health Cost Estimate
Sun, Mar 21, 10:43 AM ET, by Donald Marron
On Saturday, the Congressional Budget Office released its complete cost estimate for the health/revenue/education legislative ...

Should Campaign Contributions Be Anonymous?
Sat, Mar 20, 12:53 PM ET, by Donald Marron
ruling has rekindled broader concerns about the power of money in politics. Over at the ...

How Much Does Health Reform Cost?
Fri, Mar 19, 8:43 AM ET, by Donald Marron
It figures that CBO would release its much-awaited score just as I was boarding a ...

Economic Bloggers Forum on Friday
Thu, Mar 18, 6:13 PM ET, by Donald Marron
On Friday I will be speaking at the Kauffman Foundation’s second annual Economic Bloggers Forum. ...

America in the Red
Thu, Mar 18, 0:13 AM ET, by Donald Marron
The new issue of National Affairs includes an essay in which I summarize my thinking ...

Now Available in Dozens of Languages
Wed, Mar 17, 10:43 PM ET, by Donald Marron
Good news for international readers: Thanks to Google Translate, you can now read this blog ...

Greece Starts Selling … But Not Corfu
Wed, Mar 17, 1:13 PM ET, by Donald Marron
Greece is ready to start selling assets, according to the Wall Street Journal, but Corfu ...

Is Home Construction Bottoming?
Tue, Mar 16, 5:53 PM ET, by Donald Marron
This morning the Census Department released its latest look at housing activity. The headlines are ...

The Legacy of the Economic Crisis
Sat, Mar 13, 11:13 PM ET, by Donald Marron
In its recent Going for Growth report, the OECD concludes that the economic and financial ...

Living Standards, Labor, and Productivity
Fri, Mar 12, 11:13 PM ET, by Donald Marron
Going for Growth report. The purpose of G4G is to benchmark economic performance among the ...

Talking About Our Budget Woes
Fri, Mar 12, 3:13 PM ET, by Donald Marron
On Thursday, I appeared on Canada’s Business News Network to discuss our budget woes. Also ...

How Much Does the Senate Health Bill Cost?
Thu, Mar 11, 8:23 PM ET, by Donald Marron
Earlier today the Congressional Budget Office released an updated analysis of the Senate health bill. ...

Google’s Public Data: Much Improved
Thu, Mar 11, 7:13 AM ET, by Donald Marron
Google recently released some major improvements in its public data efforts. If you click on ...

What Assets Could the United States Sell?
Sun, Mar 7, 12:53 PM ET, by Donald Marron
Several German lawmakers hit a nerve last week with their suggestion that Greece sell some ...

Love Wins
Thu, Mar 4, 10:33 PM ET, by Donald Marron
The photos on the front page of the Washington are usually depressing. War, natural disasters, ...

Are Chile’s Building Codes Getting Too Much Credit?
Tue, Mar 2, 6:13 PM ET, by Donald Marron
Many commentators have pointed to Chiles stringent building codes as a key reason why the ...

Budget Thoughts from Steny Hoyer
Mon, Mar 1, 6:13 PM ET, by Donald Marron
House Majority Leader Steny Hoyer is building a reputation as one of our most thoughtful ...

The Tragedy of the Guacamole
Sun, Feb 28, 6:33 PM ET, by Donald Marron
One of the themes of this blog is that economics is everywhere in daily life. ...

The Key Driver of Q4 Growth? Inventories
Fri, Feb 26, 4:33 PM ET, by Donald Marron
The economy grew briskly last quarter. According to the secondestimate by the Bureau of Economic ...

The Lost Budget Decade
Thu, Feb 25, 5:13 PM ET, by Donald Marron
Budget aficionadoshave long warned that the U.S. budget is on an unsustainable path. ...

The Fed and the Supplementary Financing Program
Wed, Feb 24, 12:53 PM ET, by Donald Marron
As I discussed briefly yesterday, Treasury has announced plans to revitalize its Supplementary Financing Program ...

Step Three of the Fed’s Exit Strategy
Tue, Feb 23, 1:23 PM ET, by Donald Marron
As Confucius once said, a journey of a thousand miles begins with a single step. ...

The Spectre of Creative Bookkeeping
Mon, Feb 22, 2:23 PM ET, by Donald Marron
A spectre is haunting Europe — the spectre of creative bookkeeping.In an article in this ...

Good Charts from the ERP
Mon, Feb 15, 7:33 PM ET, by Donald Marron
Last week, the Council of Economic Advisers released its 2010 Economic Report of the President ...

How Governments Hide Their Liabilities
Sun, Feb 14, 10:53 AM ET, by Donald Marron
In my testimony to the Senate Budget Committee the other day, I recommended that Congress ...

Instant Runoff Voting Awards the Oscar
Thu, Feb 11, 10:43 PM ET, by Donald Marron
As even the most casual film buff knows by now, the Academy of Motion Picture ...

Crisis and Aftermath: The Economy and the Budget
Tue, Feb 9, 3:33 PM ET, by Donald Marron
Most of official Washington was closed today in the wake of Snowmaggedon. But not the ...

The Problem with Tax Expenditures
Mon, Feb 8, 11:43 AM ET, by Donald Marron
Last week, Len Burman published a provocative op-ed suggesting that President’s Obama idea of freezing ...

Sharp Drop in Underemployment
Fri, Feb 5, 7:13 PM ET, by Donald Marron
The most encouraging item in todays jobs report was the sharp drop in underemployment (which ...

Enforcing Property Rights: Shared Refrigerator Edition
Fri, Feb 5, 11:43 AM ET, by Donald Marron
In the past two weeks, my students and I have been discussing the importance of ...

The President Caves on Climate Policy
Tue, Feb 2, 7:13 PM ET, by Donald Marron
At a time of unsustainable deficits, deficit neutrality is a remarkably lame vision for climate ...

Initial Thoughts on the President’s Budget
Tue, Feb 2, 0:33 AM ET, by Donald Marron
1. Big deficits. ...

Will Illinois Go Bankrupt Because of Scott Brown?
Sat, Jan 30, 12:53 PM ET, by Donald Marron
Illinois is fundamentally bankrupt. It has less than $1 million in cash, pays vendors net ...

Inventories Boosted Growth in Q4 2009
Fri, Jan 29, 9:23 AM ET, by Donald Marron
The economy grew briskly last quarter. According to the advance estimate by the Bureau of ...

The Debt Limit is a Tax on the Majority
Thu, Jan 28, 6:33 PM ET, by Donald Marron
Today the Senate voted 60-39 to increase the federal debt limit from $12.4 trillion to ...

A New Price Tag for Stimulus: $862 billion, not $787 billion
Tue, Jan 26, 11:23 PM ET, by Donald Marron
Amongst its usual cracker jack budget projections yesterday, the Congressional Budget Office provided a few ...

Deficits As Far as the Eye Can See
Tue, Jan 26, 1:13 PM ET, by Donald Marron
Today the Congressional Budget Office released its much-anticipated projections for the budget. As usual, the ...

Fear the Boom and Bust: The Keynes vs. Hayek Rap
Mon, Jan 25, 7:23 PM ET, by Donald Marron
(ht Alex Tabarrok) Posted in Macroeconomics | Tagged Humor, Macroeconomics . ...

Philanthropy and Innovation
Mon, Jan 25, 3:33 PM ET, by Donald Marron
Earlier today, Bill Gates released his second annual letter as co-chair of the Bill & ...

Fewer Layoffs, Not Enough Hiring
Thu, Jan 21, 11:13 PM ET, by Donald Marron
(This is a slightly edited version of a piece that appeared yesterday over at e21.)As ...

Goldman Really Did Overpay for Its TARP Warrants
Thu, Jan 21, 11:43 AM ET, by Donald Marron
Yesterday, Treasury released a comprehensive report on the disposition of TARP warrants through 12/31/2009. It’s ...

Joining the “Announcement Effect Club”
Thu, Jan 21, 10:43 AM ET, by Donald Marron
Inspired by the popularity of Greg Mankiw’s Pigou Club, which favors using taxes (or auctioned ...

Key Readings on America’s Fiscal Plight
Mon, Jan 18, 1:43 PM ET, by Donald Marron
It remains to be seen whether our elected leaders have much enthusiasm for dealing with ...

Federal Reserve Earns $46 Billion for Taxpayers
Tue, Jan 12, 10:11 AM ET, by Donald Marron
The Federal Reserve system is doing its part to cut the budget deficit (at least ...

Treasury is Issuing More TIPS
Mon, Jan 11, 9:51 AM ET, by Donald Marron
As noted by the Wall Street Journal this morning (“U.S., in Nod to Creditors, Is ...

The Wonders of Costa Rica
Sat, Jan 9, 4:21 PM ET, by Donald Marron
On Thursday, New York Times columnist Nicholas Kristof had a wonderful piece about Costa Rica, ...

A Sobering Jobs Report
Fri, Jan 8, 1:21 PM ET, by Donald Marron
Today’s jobs report invites both negative and positive interpretations.The positives are fewer, so let’s start ...

The Budget Deficit Keeps Rising
Thu, Jan 7, 11:11 PM ET, by Donald Marron
The federal government racked up a $389 billion deficit during the first three months of ...

Will Rising Government Debt Hurt Growth?
Thu, Jan 7, 11:41 AM ET, by Donald Marron
Every January Americas economists gather for their annual conference. There are far more papers than ...

The Coming Budget Battle over TARP and Jobs
Tue, Jan 5, 6:41 PM ET, by Donald Marron
The House and Senate appear to be on a collision course about how to pay ...

What’s the United States Worth? $1.4 Quadrillion
Mon, Jan 4, 0:11 AM ET, by Donald Marron
Happy 2010, everyone. To kick off the new year, I am in Atlanta at the ...

TARP Repayments Reach $164 Billion
Wed, Dec 23, 11:11 PM ET, by Donald Marron
An upbeat news release from the Treasury Department as we approach the holiday break: Wells ...

Don’t Double Count the Medicare Savings in Health Reform
Wed, Dec 23, 10:21 AM ET, by Donald Marron
In order to pay for coverage expansions (and other spending increases), the Senate health bill ...

The Worst Decade for Stock Investors
Mon, Dec 21, 9:51 AM ET, by Donald Marron
According to this morning’s Wall Street Journal, the 2000s are on track for a dismal ...

Bending the Federal Health Cost Curve (Maybe)
Sat, Dec 19, 4:31 PM ET, by Donald Marron
Buried deep in CBO’s cost estimate of the new Senate health bill is a striking ...

Key Budget Changes in the Senate Health Bill
Sat, Dec 19, 3:31 PM ET, by Donald Marron
Majority Leader Harry Reid released his revised health care bill today; the Congressional Budget Office ...

Talking about TARP and Chairman Bernanke
Thu, Dec 17, 7:31 AM ET, by Donald Marron
The Business News Network of Canada interviewed me yesterday about TARP and Fed Chairman Bernanke’s ...

Fed Chairman Bernanke Submits 70 Answers to His Take-Home Exam
Tue, Dec 15, 6:11 PM ET, by Donald Marron
A few weeks ago, Fed Chairman Ben Bernanke appeared before the Senate Banking Committee for ...

Another Issue With Redirecting TARP Money
Mon, Dec 14, 6:11 PM ET, by Donald Marron
Last week I noted two challenges that Congress will face if it wants to use ...

When Do Regulations Turn Private Insurance into Government Insurance?
Sun, Dec 13, 6:51 PM ET, by Donald Marron
Summary: A new Senate health proposal might turn private insurance into government insurance, at least ...

Menu Engineering
Sat, Dec 12, 11:31 AM ET, by Donald Marron
Earlier in the semester, my students bravely endured the usual microeconomic approach to understanding consumer ...

Mythical Budget Savings from Cutting TARP
Wed, Dec 9, 4:21 PM ET, by Donald Marron
The TARP news continues fast and furious. This afternoons installment involves the Houses financial regulation ...

Treasury Extends, but Limits, TARP
Wed, Dec 9, 11:41 AM ET, by Donald Marron
Well that was quick. This morning Treasury Secretary Geithner laid out the administration’s vision for ...

Some Questions about TARP’s Future
Tue, Dec 8, 5:11 PM ET, by Donald Marron
As I discussed the other day, using TARP to pay for new jobs programs faces ...

CBO Comments on the Budget Impacts of the Health Bills
Mon, Dec 7, 6:41 PM ET, by Donald Marron
CBO Director Doug Elmendorf posted a particularly interesting piece on his Director’s Blog today. Summarizing ...

Can TARP Be Used to Pay for a New Jobs Program?
Fri, Dec 4, 3:51 PM ET, by Donald Marron
Washington is abuzz with the idea that Congress, the White House, or both may try ...

An Encouraging Jobs Report
Fri, Dec 4, 12:11 PM ET, by Donald Marron
This morning’s jobs report was encouraging not only in its headline figures, but also in ...

Capital One Warrants Bring in $146.5 Million
Fri, Dec 4, 11:11 AM ET, by Donald Marron
Yesterday the Treasury auctioned off its TARP warrants in Capital One. Treasury sold the warrants ...

Yes, It Is Possible to Cut Deficits
Thu, Dec 3, 6:11 PM ET, by Donald Marron
A couple weeks ago, I highlighted an IMF report that compared the fiscal challenges facing ...

Good Budget Reads
Wed, Dec 2, 11:11 PM ET, by Donald Marron
1. Jeff Frankel tops my National Journal post with nine more ways to trim the ...

TARP Warrants: Let the Bidding Begin
Wed, Dec 2, 12:11 PM ET, by Donald Marron
Thursday is a nice milestone in TARPs history: with the help of Deutsche Bank, Treasury ...

Climate Change and the Deficit
Tue, Dec 1, 11:11 PM ET, by Donald Marron
Over at the National Journal’s Economy blog, John Maggs asks some budget experts for recommendations ...

How Would Health Reform Affect Insurance Premiums?
Tue, Dec 1, 8:31 AM ET, by Donald Marron
Yesterday, the Congressional Budget Office released its much-anticipated analysis of how the Senate health bill ...

Myths of Holiday Shopping
Sun, Nov 29, 3:11 PM ET, by Donald Marron
The holiday shopping season is now underway. According to the Wall Street Journal, consumers spent ...

Cupcake Economics
Sat, Nov 28, 11:41 AM ET, by Donald Marron
As the New York Times noted a few days ago, cupcakes are hot. I’ve seen ...

Reducing National Health Care Spending
Fri, Nov 27, 8:11 PM ET, by Donald Marron
Four researchers from RAND Health have an interesting article in the latest New England Journal ...

Q3 Growth Revised Down to 2.8%
Tue, Nov 24, 9:21 AM ET, by Donald Marron
As expected, the Bureau of Economic Analysis revised down its estimate of Q3 GDP growth. ...

Google and Me, Part II
Sun, Nov 22, 5:31 PM ET, by Donald Marron
My existential crisis is over. As of last Thursday, Google is again including this blog ...

For Health Bills, A Year Makes a Big Difference
Fri, Nov 20, 4:41 PM ET, by Donald Marron
The coverage provisions in the Senate health bill have a much lower ten-year cost that ...

How Much Does the Senate Health Bill Cost?
Thu, Nov 19, 6:21 PM ET, by Donald Marron
Senate Majority Leader Harry Reid unveiled his health bill yesterday. As everyone knows by now, ...

The Great Eggo Shortage
Wed, Nov 18, 8:11 PM ET, by Donald Marron
According to CNN Money.com (ht Michelle):Grocery stores will be experiencing a shortage of the waffles ...

The U.S. Budget Challenge in International Context
Wed, Nov 18, 8:41 AM ET, by Donald Marron
A few weeks ago, the International Monetary Fund released a report analyzing the fiscal situation ...

Bill Belichick and John Maynard Keynes
Mon, Nov 16, 9:11 PM ET, by Donald Marron
Worldly wisdom teaches that it is better for the reputation to fail conventionally than to ...

The Weird Economics of Cellular Calling Plans
Sun, Nov 15, 4:51 PM ET, by Donald Marron
Yesterday’s New York Times has an amusing article about the complexities of cell phone pricing ...

Climate Change vs. Deficit Reduction?
Fri, Nov 13, 6:21 PM ET, by Donald Marron
Next February, President Obama will unveil his 2011 budget. Over the past few days, the ...

John Smith: “I Made $1 Million Reading dmarron.com”*
Thu, Nov 12, 7:21 PM ET, by Donald Marron
*Results not typical.Over at Managerial Econ, Luke Froeb highlights a new FTC initiative to crack ...

Defending the Fed’s Independence, Part II
Tue, Nov 10, 5:41 PM ET, by Donald Marron
Back in July, I expressed concern that Congress might undermine a key pillar of U.S. ...

Unemployment from 3.6% to 48.5%
Mon, Nov 9, 4:21 PM ET, by Donald Marron
The New York Times has a fascinating graph showing how the unemployment rate has grown ...

Another Argument for Legalizing Same-Sex Marriages
Sun, Nov 8, 4:51 PM ET, by Donald Marron
The voters of Maine disappointed me last week, voting to overturna state law that allowed ...

Deja Vu All Over Again?
Fri, Nov 6, 3:21 PM ET, by Donald Marron
Earlier this week, the Treasury released its quarterly update about its borrowing requirements and its ...

Health Care Potpourri
Thu, Nov 5, 12:21 PM ET, by Donald Marron
1. The Medicare doctor fix has gotten cheaper. ...

Counterintuitive Accounting: Ambac Edition
Wed, Nov 4, 6:11 PM ET, by Donald Marron
Earlier today, Ambac Financial Group (a big bond insurer) reported that it earned more than ...

Booms, Busts, and the Leverage Cycle
Wed, Nov 4, 5:41 PM ET, by Donald Marron
Over the Wall Street Journal, Mark Whitehouse has a nice piece on John Geanakoplos, a ...

Should Children Get One or Two H1N1 Flu Shots?
Tue, Nov 3, 5:11 PM ET, by Donald Marron
The World Health Organization (WHO) and the United States government are having a fascinating debate ...

Yes, the House Health Bill Costs More than $1.2 Trillion
Mon, Nov 2, 7:31 PM ET, by Donald Marron
In a series of posts last week, I noted that the coverage provisions in the ...

The GM (er, Motors Liquidation) Anomaly
Sat, Oct 31, 4:21 PM ET, by Donald Marron
A few months ago, I wrote a series of posts about anomalies in the pricing ...

The Costs of the Health Bills: Another Look
Fri, Oct 30, 4:21 PM ET, by Donald Marron
The Congressional Budget Office released a very helpful letter today that clarifies some of its ...

The House Health Bill Costs Almost $1.3 Trillion
Fri, Oct 30, 0:11 AM ET, by Donald Marron
As I’ve noted in a series of posts, there is often great confusion about the ...

Doesn’t the House Bill Fail the President’s $900 Billion Test?
Thu, Oct 29, 6:21 PM ET, by Donald Marron
This morning Speaker of the House Nancy Pelosi released the latest version of the House ...

GDP Growth Returns in Q3
Thu, Oct 29, 5:41 PM ET, by Donald Marron
As expected, the economy grew at a healthy pace in the third quarter, expanding at ...

Yuppie 911 and the Financial Crisis
Tue, Oct 27, 6:51 PM ET, by Donald Marron
If you make an activity safer, people will take more risk. The inventions of seat ...

COBRA: Adverse Selection in Action
Mon, Oct 26, 0:11 AM ET, by Donald Marron
The November 2 Forbes suggests that health insurance under COBRA provides a clear example of ...

The Warped Economics of Carry-On Luggage
Fri, Oct 23, 5:21 PM ET, by Donald Marron
I just got home from a quick trip to Denver, where I spoke at a ...

Your Mileage May Vary
Wed, Oct 21, 12:11 PM ET, by Donald Marron
In the category of better late than never, I should highlight Lori Montgomery’s article in ...

More on the Medicare Doctor “Fix”
Tue, Oct 20, 4:41 PM ET, by Donald Marron
On Sunday, I expressed concern about Congress enacting a permanent Medicare doctor “fix” without paying ...

Why You Should Oppose the Medicare Doctor “Fix”
Sun, Oct 18, 4:21 PM ET, by Donald Marron
The Senate is preparing to take up a bill to implement a permanent "fix" to ...

Manufacturing on the Upswing
Fri, Oct 16, 6:11 PM ET, by Donald Marron
Earlier today, the Federal Reserve released its latest data on industrial production. Bottom line: production ...

The Social Security Windfall
Thu, Oct 15, 3:51 PM ET, by Donald Marron
As you have probably heard, Social Security recipients wont be getting a cost-of-living adjustment (COLA) ...

Taxes Are Not Created Equal
Tue, Oct 13, 8:31 PM ET, by Donald Marron
I’ve been working on a paper about America’s looming fiscal crisis. Earlier today I drafted ...

Use Sweden’s Playbook
Mon, Oct 12, 0:11 AM ET, by Donald Marron
During the financial crisis, the best single piece of advice I received was: “Use Sweden’s ...

Looking Back at Fiscal 2009
Fri, Oct 9, 10:21 AM ET, by Donald Marron
A few days ago, CBO released itslatest snapshot on the federal budget, documenting the remarkable ...

Talking about the Baucus Bill
Thu, Oct 8, 10:11 PM ET, by Donald Marron
I did an interview on Fox Business on Thursday to discuss CBO’s analysis of the ...

Opium Economics in Afghanistan
Thu, Oct 8, 6:41 PM ET, by Donald Marron
If you are troubled by opium production in Afghanistan, Jeff Clemens at the Harvard Kennedy ...

The Real Cost of the Baucus Bill
Wed, Oct 7, 9:51 PM ET, by Donald Marron
Earlier today the Congressional Budget Office released its much-anticipated preliminary analysis of the new Baucus ...

How Much Do The Health Bills Cost?
Tue, Oct 6, 6:41 PM ET, by Donald Marron
Everyone involved in the health care debate is waiting expectantly to see the Congressional Budget ...

8 Million Jobs Lost
Sun, Oct 4, 3:11 PM ET, by Donald Marron
Kudos to Floyd Norris over at the New York Times for characterizing total job losses ...

The Changing Distribution of Worker Earnings
Sun, Oct 4, 0:11 AM ET, by Donald Marron
On Friday, the Congressional Budget Office released a new study examining how worker earnings changed ...

1.1 Million More Jobs Lost
Fri, Oct 2, 6:11 PM ET, by Donald Marron
Todays jobs report was weak across the board: September payrolls fell by 263,000, the unemployment ...

Andrew Samwick’s Good Point About Health Insurance
Thu, Oct 1, 3:11 PM ET, by Donald Marron
In a recent post over at Capital Gains and Games, Andrew Samwick makes an important ...

Happy New Year … and Good Riddance to the Old One
Thu, Oct 1, 0:21 AM ET, by Donald Marron
Today marks the beginning of the new fiscal year, so budgeteers are all greeting each ...

Still Broad Weakness in Q2 GDP
Wed, Sep 30, 6:41 PM ET, by Donald Marron
Earlier today, the Bureau of Economic Analysis released updated GDP figures, estimating that the economy ...

More TIPS to Finance Our Growing Debt?
Tue, Sep 29, 5:11 PM ET, by Donald Marron
As you may noticed, the U.S. needs to borrow vast amounts of money. ...

Netflix Avoids the Sunk Cost Fallacy
Mon, Sep 28, 11:11 PM ET, by Donald Marron
The highlight of this month’s Wired magazine is a profile of Netflix and its CEO, ...

Human Organs, Behavioral Economics, and Insurance Mandates
Sun, Sep 27, 2:31 PM ET, by Donald Marron
Like the minimum wage and rent control, the market for human organs is a classic ...

IMF: The Lasting Effects of Financial Crises
Fri, Sep 25, 1:21 PM ET, by Donald Marron
Earlier this week, the IMF released a key chapter from the upcoming World Economic Outlook: ...

Answer: When It’s a Fine
Thu, Sep 24, 5:11 PM ET, by Donald Marron
Readers have provided many thoughtful comments on yesterdays post about whether we should use the ...

When is a Tax Not a Tax?
Wed, Sep 23, 12:31 PM ET, by Donald Marron
A critique–and, if you read far enough, a partial defense–of the President’s rhetoric about the ...

Netflix Boosts Prize Economics
Tue, Sep 22, 4:11 PM ET, by Donald Marron
By at least one metric the number of people who have mentioned it to me ...

Is It Possible to Tame the Deficit? Yes.
Mon, Sep 21, 8:11 PM ET, by Donald Marron
The fiscal outlook for the United States is grim. This year’s deficit will be around ...

Talking Health on CNBC
Fri, Sep 18, 10:41 AM ET, by Donald Marron
When I worked for the White House, I discovered that you could learna lot about ...

Baucus Bill: Four Steps in the Right Direction
Thu, Sep 17, 12:21 PM ET, by Donald Marron
From a budget perspective, the Baucus bill is a major step forward from the earlier ...

How Much Does the Baucus Bill Cost?
Thu, Sep 17, 9:21 AM ET, by Donald Marron
Yesterday, Senate Finance Committee Chairman Max Baucus released his much-awaited health care proposal. In his ...

Lessons from the Fall of Lehman
Wed, Sep 16, 0:11 AM ET, by Donald Marron
As you have undoubtedly noticed, this week marks the one-year anniversary of the fall of ...

The Simple Economics of Student Loan Crises
Tue, Sep 15, 0:11 AM ET, by Donald Marron
Yesterday, my students heard my second lecture on supply and demand. You know, the one ...

Insight on Google and Unemployment
Mon, Sep 14, 0:11 AM ET, by Donald Marron
In a series of posts (here, here, and here), I have expressed concern that Google ...

Wall Street Goes to Washington
Sun, Sep 13, 11:31 AM ET, by Donald Marron
A front page story in today’s Washington Post (”In Shift, Wall Street Goes to Washington“) ...

How Much Did Cash-for-Clunkers Boost Auto Sales?
Thu, Sep 10, 6:11 PM ET, by Donald Marron
The stimulus act.The state assistance in the stimulus act.Stimulus efforts in other countries.The Cash-for-Clunkers program.I ...

The Exploding Deficit Reaches $1.4 Trillion
Tue, Sep 8, 5:31 PM ET, by Donald Marron
Earlier today, CBO released its latest monthly snapshot on the federal budget. The key things ...

Voyaging Through U.S. Jobs
Mon, Sep 7, 11:41 AM ET, by Donald Marron
In honor of Labor Day, you may want to check out Job Voyager by Flare. ...

Why Economists Messed Up
Sun, Sep 6, 11:11 AM ET, by Donald Marron
The biggest thing in economics today is Paul Krugman’s “How Did Economists Get It So ...

Unemployment Still Rising
Fri, Sep 4, 3:11 PM ET, by Donald Marron
Today’s jobs report didn’t deliver any real surprises. The number of payroll jobs fell by ...

Another Look at Oil and Natural Gas Prices
Wed, Sep 2, 4:36 PM ET, by Donald Marron
A couple weeks ago, I discussed the remarkable divergence between the prices of oil and ...

The Fannie and Freddie Anomaly
Mon, Aug 31, 4:02 PM ET, by Donald Marron
Can anyone explain the stock prices of Fannie Mae and Freddie Mac, the two government-sponsored ...

Is OMB's Budget Deficit Too High?
Wed, Aug 26, 4:47 PM ET, by Donald Marron
As expected, the new budget projections from the Office of Management and Budget show an ...

Will the Gap Narrow Between Oil and Natural Gas Prices?
Fri, Aug 21, 3:03 PM ET, by Donald Marron
Yesterday marked a new record in the divergence between oil and natural gas prices.As noted ...

Budget Deficit Forecast Likely Lower
Thu, Aug 20, 3:46 PM ET, by Donald Marron
Next Tuesday is a big day for budget watchers. The Congressional Budget Office will release ...

Citigroup & Berkshire Anomalies: Breaking the Law of One Price
Mon, Jul 6, 12:46 PM ET, by Donald Marron
Both Citigroup (C,) and Berkshire Hathaway (BRK.A, BRK.B) continue to violate the law of one ...

Green Shoots Are AWOL in a Grim Jobs Report
Fri, Jul 3, 2:46 PM ET, by Donald Marron
The headlines in yesterday's job report were gloomy:Nonfarm payrolls fell by 467,000 in June, more ...

Stimulus Lifts Government Transfers
Tue, Jun 30, 5:32 PM ET, by Donald Marron
A few weeks ago, I posted some charts showing that Americans are increasingly reliant on ...

The TARP Peace Sign
Fri, Jun 19, 1:51 PM ET, by Donald Marron
Wednesday was a rare day in Washington: the Federal government was actually cash-flow positive. The ...