An April 27 McClatchy-Marist poll found that 71 percent of people believe the economy is still in recession. (Economists generally believe that the recession ended almost two years ago.)
On April 20, economists Guillermo Cruces, Ricardo Pérez Truglia, and Martin Tetaz posted a working paper which found that people tend to misperceive their economic class; poor people think of themselves as being more well to do than they are and rich people tend to think of themselves as less well to do than they are.
In an April 20 commentary, University of Wisconsin economist Menzie Chinn was highly critical of the Heritage Foundation’s glowing analysis of Rep. Paul Ryan’s budget plan, finding the results “fantastical.”
On April 20, the Organization for Economic Cooperation and Development published a study of persistently high unemployment in its member countries.
Also on April 20, the International Monetary Fund published a working paper on the relationship between financial cycles and business cycles. It finds that recessions associated with financial crises tend to be more severe.
On April 13, the World Economic Forum released the latest Global Information Technology Report.
The April issue of the journal Industrial Relations contains an article which argues that minimum wages increases have had zero effect on unemployment.
A March 24 study from the Federal Reserve Bank of Cleveland examined the impact of the recession on entrepreneurship.
In a March working paper, University of Texas economists Daniel Hamermesh and Jason Abrevaya find that greater physical attractiveness greatly increases individual happiness. The effect is more pronounced for women than men.
On February 9, the IMF published a report examining its failure to foresee the economic crisis. It found that the IMF’s ability to identify the mounting risks was hindered by a number of factors, including a high degree of groupthink, intellectual capture, and a general mindset that a major financial crisis in large advanced economies was unlikely. Weak internal governance and an institutional culture that discourages contrarian views also played an important role.
Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Imposter: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).
