Market bubbles are linked to many historic financial crises, but asset price run-ups can reflect both fundamental value changes and psychological contagion. Using historic values of commonly held assets (stocks and real estate), a novel “exuberance index” offers a way to compare bubbles.
The level of education determines a worker’s earnings to a large degree, and this simple study of cohorts of workers over the decades illustrates how the “lifetime education premium” is becoming more valuable than ever.
Oil prices and inflation expectations sometimes move in tandem. A close look at three types of shocks to oil prices suggests that not all shocks relate to inflation expectations in the same manner.
Changes in income of rich and poor households might overstate changes in welfare because the cost of goods favored by the rich is rising faster than the cost of goods consumed mainly by the poor and middle class.
As happened in the first quarter last year, real GDP contracted in Q1 of this year. In 2014, the weather was largely to blame. This time, four other factors are being cited, all thought to be temporary.
The Eighth District added about 150,000 jobs from 2010 to 2013, almost 75 percent of them in low-paying industries. Such jobs are growing at a faster rate than those in high-paying industries, the opposite of what is happening on the national level.
The Bowling Green metropolitan statistical area has shared in the relative prosperity of this part of Kentucky, thanks largely to the auto sector, tourism and Western Kentucky University. Stability in the housing market has also helped.
Much is known about the effects of unauthorized immigration on the nation as a whole. But little research has been done so far on the impact of states’ efforts to curb the influx—efforts such as the E-Verify program.
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