In his new book, Tim Harford attempts to demystify macroeconomics in the same way his earlier bestseller, The Undercover Economist, demystified microeconomics. Using his characteristic conversational style, Harford will discuss abstract macroeconomic ideas, explaining the most common models of recessions and the difficulty of discriminating between them on empirical grounds. For example, was the crisis of 2008 driven by supply- or demand-side factors? And why do failures of the financial sector seem to have such severe economic consequences? He will not shy away from other topics, including income inequality, or the growing interest in alternative measures of economic well-being, such as self-reported happiness. Please join us for a discussion of what macroeconomists believe about the economy and of why those beliefs often seem to lead to bad public policy.
Featuring John Allison, President and CEO, Cato Institute; Rep. Kevin Brady (TX-8), Chairman, Joint Economic Committee; and Norbert Michel, Research Fellow in Financial Regulations, Heritage Foundation; moderated by James A. Dorn, Vice President for Monetary Studies and Senior Fellow, Cato Institute.
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In this issue of the Cato Journal, economists Geoffrey Black, D. Allen Dalton, Samia Islam, and Aaron Batteen offer one prominent example of allowing the market to work. Also in this issue, economists Jason E. Taylor and Jerry L. Taylor reexamine the relationship between marginal tax rates and U.S. growth, and Robert Krol looks at bias in CBO and OMB economic forecasts.
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The 2008-2009 financial crisis and Great Recession have vastly increased the power and scope of the Federal Reserve, and radically changed the financial landscape. This new ebook examines those changes and considers how the links between money, markets, and government may evolve in the future.