Kerk Phillips

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Currency crises can cause real downturns that last a long time. Most currency crises can be attributed to the central bank attempting to target the exchange rate while simultaneously conducting independent mon...
Traffic is stop-and-go when the number of cars per mile of highway gets too large. A working paper by Jennifer La'O of the University of Chicago examines whether a recession can be explained by a similar mecha...
Since the end of World War II, industrial production in the Rust Belt has declined slowly, but dramatically. This decline was largely driven by the unique technological advantages of firms and relationships wi...
Economics requires theory to form testable hypotheses, and theory often required heavy use of mathematics. Without theory and testable hypotheses, we would be unable to understand the economy.
Economics claims to be a social science, but is it really a science? Controlled experiments are often impossible, but statistical tools make it possible for economists to rigorously and objectively examine data...
Buying an electric car reduces carbon emissions in the long-run, but there are significantly lower-cost methods of reducing carbon emissions.
Balancing the budget is very hard in the short run. The keys to a restoration of sound fiscal policy are to adopt policies that encourage more rapid growth of the economy and put meaningful and enforceable cap...
Tax season will soon be upon us. Wouldn’t it be nice if filing taxes was not such a long, drawn-out process?
Taxes are in the news lately. French film star, Gerard Depardieu announced in December he would be moving from France to neighboring Belgium to avoid an increase in taxes.
So we avoided the fiscal cliff. Forgive me if I am less than impressed with our political leaders.