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Poverty Trend in the U.S.
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A very well described article from the Minneapolis Fed about poverty in the U.S. The issue is actually a more complex one than is commonly assumed.
Minneapolis Fed , Ronald A. Wirtz
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Expensed and Sweat Equity
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According to the author, a siginficant amount of business investment is not included in national accounts. Some of the unaccounted investment is "Sweat". Sweat investment is financed by workers-owners who allocate time to their business and receive compensation at less than their market rate.
Such investments are made with the expectation of realizing capital gains when the business goes public or is sold.
Working Paper, Minneapolis Fed , Ellen R. McGrattan and Edward C. Prescott
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Pop Internationalism
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"Pop internationalists" -- people who speak impressively about international trade while ignoring basic economics and misusing economic figures are the target of this collection of Paul Krugman's essays. In the clear, readable, entertaining style, Krugman explains what real economic analysis is. He discusses economic terms and measurements, like "value-added" and GDP, in simple language so that readers can understand how pop internationalists distort, and sometimes contradict, the most basic truths about world trade.
MIT Press, March 1996 , Paul R. Krugman
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Japan's creative monetary policy tool to re-inflate and force consumption
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Japan (or the BoJ) seems to have found a new original way to create inflation and stimulate consumption at the same time: by taking Milton Friedman at his words and droping money off the sky!
Investments Office, July 2007 , Ronald Weber
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USD diversification fallacy and the end of the home bias
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US real money managers, not Asian central banks, are the biggest dollar diversifiers and have been steadily diversifying out of the US since 2003.
Morgan Stanley, 20 July 2007 , Stephen Jen
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Development, Geography, and Economic Theory
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Why do certain ideas gain currency in economics while others fall by the wayside? Paul Krugman argues that the unwillingness of mainstream economists to think about what they could not formalize led them to ignore ideas that turn out, in retrospect, to have been very good ones.
MIT Press, August 1997 , Paul Krugman
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Relative economic performance and currency thoughts
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Since the deregulation of currencies and financial markets in the 1980s and 1990s, currency strength has conveyed almost no information about the health of a national economy - and none at all about a country’s competitive position in global trade
Gavekal
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Who Captures Value in a Global Innovation System? The case of Apple's iPod
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The retail value of the 30-gigabyte video iPod that the authors examined was $299. The most expensive component in it was the hard drive, which was manufactured by Toshiba and costs about $73. The next most costly components were the display module (about $20), the video/multimedia processor chip ($8) and the controller chip ($5). They estimated that the final assembly, done in China, cost only about $4 a unit.
Personal Computing Industry Center (PCIC), An Alfred P. Sloan Foundation Industry Center, The Paul Merage School of Business, University of California, Irvine, June 2007 , Greg Linden, Kenneth L. Kraemer, Jason Dedrick
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China: Water, Pigs and Inflation
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The cocktail mix of pigs disease, water shortage and a few 100 mio. angry farmers in China could lead to a global jump in inflation and some nasty manufacturing disruptions.
Investments Office , Ronald Weber
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The Financial Accelerator and the Credit Channel
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To understand where the Fed Chariman's economic heart truly lies, read the speech he delivered at the Atlanta Fed in June 2007: “The Financial Accelerator and the Credit Channel.”
The Federal Reserve Board, June 2007 , Remarks by Chairman Ben S. Bernanke
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