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The labor share of income in the US is at its lowest post-war level
A look at the decline of the labor share of income that occurred post-COVID, comparing its dynamics to declines in earlier periods.
Liberty Street Economics
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2
Why does the U.S. always run a trade deficit?
Persistent shortfalls in domestic savings, requiring funds from abroad to finance domestic investment spending, could be why the U.S. runs a trade deficit.
3
Federal Reserve Bank of NY converts major economic model to Julia
Marco Del Negro, Marc Giannoni, Pearl Li, Erica Moszkowski, and Micah Smith We have implemented the FRBNY DSGE model in a free and open-source language called Julia. The code is posted here on GitHub, a public repository hosting service. This effort is the result of a collaboration between New York Fed staff and folks…
4
Computer Saturation and the Productivity Slowdown
One of the current puzzles in economics is the recent worldwide slowdown in productivity, compared to the late 1990s and early 2000s. This productivity loss is economically large: if productivity growth had stayed at the same level as in 1995-2004, American GDP would have increased by trillions of dollars. In this…