Throughout the long document, allusion is made to economics, but without a call for a real science of economics. There must be a great deal more effort poured into the search for that science. This is what I missed in Laudato si.
We shouldn't be giving up on monetary policy, which for the past few years has been pretty much the only game in town as far as economic policy goes. Instead, we should be looking for a better balance between monetary and other growth-promoting policies, including fiscal policy.
While in most advanced economies, housing prices contracted for a prolonged period both during and after the crisis, in emerging markets, housing prices suffered brief declines, recovered quickly and have kept rising since.
Geared towards what seems to be an uncertain landscape for the country, Colombia continues to prove to be a fragile economy, with serious structural complications in its core and what some may classify as an irresponsible fiscal policy.
The drag created by such big amounts of student debt is likely to reverberate throughout the economy for many years to come. This is just another reason we expect to remain stuck in a long period of sub-par economic growth.
Unfortunately, the sequester is only the latest of a series of actions that have cut funding to America's national park system. In fact, in a recent study, all but one of the 23 national parks surveyed have seen budgets decline consistently since 2010 (some by more than 25 percent).
Rethinking and reforms are both taking place. But we still do not know the final destination, be it for the redefinition of monetary policy, or the contours of financial regulation, or the role of macroprudential tools.
The current crisis is an opportunity in disguise. If the European leaders seize the chance, they can improve competitiveness and thereby living standards in the south and east, while increasing the legitimacy of the EU at the same time.
What will bring U.S. back to full employment is a big question among economists. The problem is that the 155,000 new jobs per month in 2012 isn't enough to either absorb new entrants, or those that have lost jobs. Only the investment of more money grows a sluggish economy.
Gross Domestic Product, better known as GDP, is the market value of all final goods and services produced within a country in a given period. That's why GDP per capita is widely used as a summary indicator of living standards in a country.
Over the past two decades, the intercept had been largely in negative territory -- normally between -2 and -5, with the severe manufacturing contraction during the 2000 recession seeing a moment in which the intercept hit -15 for the year.
Christopher Sims and Thomas Sargent won the Nobel Prize in Economics for research on measurement in macroeconomics. While some intellects might not follow The Dismal Science this year, this research has particular relevance for students today.
There is large consensus among economists for the long run: central banks will focus on more than just inflation, especially financial stability; but there will be a real challenge in developing an integrated approach.
Whether in the developing world or the billion dollar hills of Sand Hill Road, companies that invest in the success of women in the workforce will enjoy long-term benefits to both their top and bottom lines.
Picking a new head for the National Economic Council is an important moment for the president's rapidly realigning staff. The old economic models are broken, and a little entrepreneurial populism is exactly what is needed.