Prices of most consumer goods (clothes, food, appliances) have trended downward for decades. Discounters like Wal-Mart cut prices on the things we buy most frequently and in recent years have been hailed as sentries against inflation. University of Chicago economist Christian Broda argues that discounting actually levels the playing field between rich and poor because the poor shop more frequently in discount superstores and the rich spend more on goods less subject to competition. "Deflation in the price of consumer goods may seem like a panacea," says [Ellen Ruppel Shell], "but this is an illusion, because cheap consumer goods do not constitute the bulk of our expenses. One of the most salient points Shell makes about our dependence on foreign labor is how it has changed the way we v...
Trend growth in the labor force is a key determinant of trends in employment and gross domestic product (GDP). Forecasts by Macroeconomic Advisers (MA) have long anticipated a marked slowing in trend growth of the labor force that would contribute to a slowing in potential GDP growth. This is reflected in MA's forecast that the aggregate rate of labor force participation will trend down, especially after 2010, largely in response to the aging of the baby boom generation, whose members are beginning to approach typical retirement ages. Expectations for a downward trajectory for the participation rate and a slowing in trend labor force growth are not unique. However, this article reports on MA research suggesting that the opposite is possible: that the slowdown in trend labor force growth...
...Recent empirical work by Broda and Romalis (2008) suggests that economic analysis...REFERENCES. Broda, Christian and Romalis, John. "Inequality and Prices: Does Ch...
.... (1) C. Broda and D. E. Weinstein, "Globalization and the Gains .... David E. Weinstein and Christian Broda * . * Broda is an NBER Faculty Research Fell...
... by Feenstra (1994), Bils and Klenow (2001), Broda and Weinstein (2006), and Feenstra and Kee (2008),.... Broda, Christian, and David E. Weinstein. 2006. Globalization and t...
The dramatic action of policymakers including the Federal Reserve in slashing interest rates is testament to the scale of expectations of an economic slowdown. But the Fed and other central banks are also fighting a seldom-discussed foe marching in tandem with stagnation: deflation. While there is no agreed definition of deflation, there is a clear distinction between a temporary period of falling prices and a more long-term trend. The devastating consequences of deflation mean that for central bankers preventing it is paramount. Corporates are hit by a double whammy with deflation. For one thing, deflation increases the real burden of debt if it is not anticipated and therefore is not factored into nominal interest rates -- as it has not been in the US until recently. As interest rates...
... deflation for two reasons," explains Christian Broda, head of international economic research at ...
...AUTHOR: Broda, Christian and David E. Weinstein. PUBLISHER: AEI ...
...David Weinstein, and Christian Broda, University of Chicago and NBER, "Exporting ...
GROUP AA pounds
Kyle Dulaney (Christiansburg) d. Akhil Gowda (Broad Run), 10-3; Richard Harrel...John Broda (Brookville), 3:59; Seth Baker (Fauquier) d. Gray...
... and University of Chicago Professor Christian Broda, "The Impact Of The 2008 Tax Rebates On Cons...
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