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Is There Such a Thing As a Skyscraper Curse?
Publication
Author: Elizabeth Boyle Lucas M. Engelhardt Mark Thornton
Online Publish Date:
Quarterly Journal of Austrian Economics 19, no. 2 (Summer 2016) ABSTRACT: There is an emerging literature on the subject of skyscrapers and business cycles. Lawrence (1999) first noticed the correlation between important changes in the economy and the building of record-breaking skyscrapers. Thornton (2005) established a theoretical link between
Keynesian Supply Shocks and Hayekian Secondary Deflations
Quarterly Journal of Austrian Economics
Author: Lucas M. Engelhardt
Online Publish Date:
Category: Business Cycles, Keynes
Abstract: In response to the COVID-19 lockdown policies, Guerrieri et al. (2020) developed a new concept: the Keynesian supply shock. A Keynesian supply shock is an aggregate supply shock that leads to an even larger aggregate demand shock. This paper suggests that Keynesian supply shocks are very similar to the secondary deflations suggested by
QJAE: Keynesian Supply Shocks and Hayekian Secondary Deflations
Power & Market
Author: Lucas M. Engelhardt
Online Publish Date:
Abstract: In response to the COVID-19 lockdown policies, Guerrieri et al. (2020) developed a new concept: the Keynesian supply shock. A Keynesian supply shock is an aggregate supply shock that leads to an even larger aggregate demand shock. This paper suggests that Keynesian supply shocks are very similar to the secondary deflations suggested by
Pandemic Wage Observations
Power & Market
Author: Lucas M. Engelhardt
Online Publish Date:
Labor shortage “fun” fact:Inflation-adjusted weekly median earnings JUMPED in the 2nd quarter of 2020 (probably because so many low-wage workers got laid off), but have been steadily falling since then, and are now at the same level they were in the 4th quarter of 2019. Meanwhile if we don’t adjust for inflation, we see the same jump in the 2nd