China's economy is an unconventional mixture of central control and subsidies, especially involving the large state-owned firms and the financial sector, mixed with widespread use of privately owned firms and market mechanisms. One common mechanism has been to reward local government officials for meeting the goals that the central government has set for economic growth

Conversable Economist

23.04.2025

The Silver (-Haired) Economy - Conversable Economist

In its most recent World Economic Outlook report, the IMF includes a chapter on "The Rise of the Silver Economy: Global Implications of Population Aging" (April 2025). Here are the big trends in a nutshell. The red line (measured on the right-hand axis) shows that the average age of the global poulation was about 27

Conversable Economist

24.04.2025

Interview with Robert Barro: Empirical Macroeconomics - Conversable Economist

Jon Hartley serves as interlocutor in "Revisiting Empirical Macroeconomics with Robert Barro" (Hoover Institution, Capitalism and Freedom Podcast, March 25, 2025, audio and transcript available). Here are a few of the comments from Barro that especially caught my eye. One basic question in economics is about "the multiplier"--that is, how much will an increase in

Conversable Economist

29.04.2025

A Primer on the Economic Effects of Tariffs - Conversable Economist

If you are looking for a fairly easy read that describes how economists view the effects of tariffs, you could do worse thatn start with tbhe overview essay by Kyle Pomerleau and Erica York, "Understanding the Effects of Tariffs" (American Enterprise Institute, April 2025). Here, I'll skip past their historical discussions of US tariffs, and

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A China Problem: When Local Officials Shift from Facilitating Growth to Generating It - Conversable Economist

The Silver (-Haired) Economy - Conversable Economist

Interview with Robert Barro: Empirical Macroeconomics - Conversable Economist

A Primer on the Economic Effects of Tariffs - Conversable Economist

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