Economics

Economics

UVA Health Still Squeezing Money From Patients — By Seizing Their Home Equity
Economics

UVA Health Still Squeezing Money From Patients — By Seizing Their Home Equity

Lambert here: Medicaid can’t seize your home (see NC here and here) if the University of Virginia already has. So there’s a bright side (and I wonder how many other health care systems are doing just what UVa is doing. In fact, there are probably consultants with PowerPoint decks out there right now, explaining how to do it). By Jay Hancock, Kaiser Health News. Originally published at Kaiser Health News. Doris Hutchinson wanted to use money from the sale of her late mother’s house to help her grandchildren go to college. Then she learned the University of Virginia Health System was taking $38,000 of the proceeds because a 13-year-old medical bill owed by her deceased brother had somehow turned into a lien on the property. “It was a mess,” she said. “There are bills I could pay with that mo...
The Fed’s New Policy Framework: A Major Improvement But More Can Be Done
Economics

The Fed’s New Policy Framework: A Major Improvement But More Can Be Done

Lambert here: “[A] scenario that seems empirically relevant,” from the introduction, is dry. Very dry. By Gauti Eggertsson, Professor of Economics, Brown University, Sergey Egiev, PhD candidate in Economics, Brown University, Alessandro Lin, Josef Platzer, PhD candidate in Economics, Brown University, Luca Riva, Ph.D. Candidate in Economics, Brown University. Originally published at VoxEU. The Federal Reserve has recently announced a new policy strategy of average inflation targeting. The column argues that while this is unambiguously a positive step, it may not – under all circumstances – subscribe to a sufficiently aggressive make-up strategy when the zero lower bound is binding. This is particularly likely to be the case if episodes of high unemployment are not associated with material ...
Links 10/21/2020
Economics

Links 10/21/2020

Behind prison walls, cats and inmates rehabilitate each other through animal care program Indianapolis Star The gut microbiome defines social group membership in honey bee colonies Nature What Sharks Can Teach Us About Survivorship Bias Farnam Street Travis Kalanick Finds New Industry To Put Out Of Business Dealbreaker Everything’s Too Expensive and Nothing Can Be Done John Authers, Bloomberg Google antitrust case backed by rare Washington consensus FT and US antitrust case accuses Google of strangling competition FT Google execs urge employees to keep their heads down amid DOJ’s antitrust lawsuit CNBC Antitrust as Economic Stimulus Pro-Market. The editor truncated the original headline: antitrust-as-economic-stimulus-competition-help-workers. California may replace cash bail with algorith...
Fiscal Policy Efficacy in Times of Covid
Economics

Fiscal Policy Efficacy in Times of Covid

Just in time for the module on fiscal policy in my macro policy course, multipliers in a time of Covid-19. From a CBO working paper by Selsiki, Betz, Chen, Demirel, Lee, and Nelson, “Key Methods That CBO Used to Estimate the Effects of Pandemic-Related Legislation on Output”. Table 2 reports the ranges for a period of economic slack (empirical evidence in support of recounted in this New Palgrave survey article on multipliers), and then the adjustments made for social distancing. Source: Selsiki, et al. (2020). The “direct effect” varies by measure (purchases of goods and services vs. unemployment insurance enhancement vs. PPP). Source: Selsiki, et al. (2020). Noteworthy is the fact that the demand multiplier for the Paycheck Protection Program is quite small; however, if we are intere...
U.S. Supreme Court Rejects GOP Call Not to Extend Deadline for Mail-In Ballots
Economics

U.S. Supreme Court Rejects GOP Call Not to Extend Deadline for Mail-In Ballots

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. In the first of what will no doubt be a series of blockbuster voting rights rulings or opinions in this 2020 electoral season, the U.S. Supreme Court let stand a Pennsylvania Supreme Court ruling to count mail-in ballots received within three days of November 3rd’s Election Day, even if they lack a legible postmark. For those keeping partisan score. this means the Court upheld the Democratic party argument, and rejected the Republican one. The Wall Street Journal reports in Supreme Court Allows Extension for Mail-In Ballots in Pennsylvania: The Supreme Court on Monday refused to disturb a ruling by Pennsylvania’s highest court that extended the bat...
2:00PM Water Cooler 10/20/2020
Economics

2:00PM Water Cooler 10/20/2020

By Lambert Strether of Corrente Bird Song of the Day Really sounds like sunny, open field, with insects in the background… #COVID19 At reader request, I’ve added this daily chart from 91-DIVOC. The data is the Johns Hopkins CSSE data. Here is the site. Here are the United States regions: Still rising, if anthing faster. Gonna be interesting to see what happens if the virus is really cranking in November or December, and the FDA says a vaccine is ready… Here are the Swing States as I conceive them (see below): Unmistakable rise everywhere. Including Texas, which alas seems to have straightened out its data problem, in the past few days. Here is the case fatality rate for the regions, the Northeast (yellow), Midwest (blue), West (red), and South (green): I track confirmed cases, be...
U. S. Supreme Court Rejects GOP Call Not to Extend Deadline for Mail-In Ballots
Economics

U. S. Supreme Court Rejects GOP Call Not to Extend Deadline for Mail-In Ballots

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. In the first of what will no doubt be a series of blockbuster voting rights rulings or opinions in this 2020 electoral season, the U.S. Supreme Court let stand a Pennsylvania Supreme Court ruling to count mail-in ballots received within three days of November 3rd’s Election Day, even if they lack a legible postmark. For those keeping partisan score. this means the Court upheld the Democratic party argument, and rejected the Republican one. The Wall Street Journal reports in Supreme Court Allows Extension for Mail-In Ballots in Pennsylvania: The Supreme Court on Monday refused to disturb a ruling by Pennsylvania’s highest court that extended the bat...
Links 10/20/2020
Economics

Links 10/20/2020

A California shark lab tagged a record number of sharks off the Southern California coast this year KCTV First tyrannosaur embryo fossils revealed National Geographic (The Rev Kev) Neil deGrasse Tyson warns asteroid could hit Earth the day before the election The Hill. UserFriendly  “can I vote for the asteroid?” NASA will (hopefully) snag samples from an asteroid for the first time ever on Oct. 20 Houston Chronicle Want a bicycle by Christmas? ‘If you leave it till December there will be no stock’ Guardian Turkey farmers fear that, this year, they’ve bred too many big birds WaPo. A confession. I don’t really care for turkey. Even when I start with a quality bird, brine it, and smoke/roast it on my Big Green Egg. Thanksgiving remains by favourite holiday, because – in spite of Black Friday...
Waste Watch: New York Begins Enforcing Plastic Bag Ban
Economics

Waste Watch: New York Begins Enforcing Plastic Bag Ban

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The COVID-19 pandemic has upended many existing recycling policies, particularly those involving plastic. Now, while this may in effect be a bit of a blessing in disguise – as it highlights the flaws in our touching but misplaced faith in techno fixes such as calling for the recycling fairy to solve our plastic problem – the net effect of cancelling many recycling schemes is to burden us with more rubbish of which  we need to dispose. (For more detail on how the pandemic has – temporarily?- killed recycling, see my earlier post, Coronavirus Kayoes U.S. Recycling, as well as these subsequent crossposts by others, Rubbish Is Piling Up and Recycling H...
COVID-19: Examining Theories for Africa’s Low Death Rates
Economics

COVID-19: Examining Theories for Africa’s Low Death Rates

Jerri-Lynn here. Two thing I wish to draw to reader attention of readers about this COVID-19 post about Africa.. First, India too has recorded low relative death rates, this despite reporting the world’s second incidence of cases, and having a poor health care system. Second, the authors suggest that genetic factors may account for the lower death rates in African countries. Yet I point out that in advanced countries, people of color seem to be dying at a higher rate, which suggest that the genetic explanation, if any, is not a simplistic one. By Kevin Marsh, Professor of Tropical Medicine, University of Oxford, and Moses Alobo, Programme Manager for Grand Challenges Africa, African Academy of Sciences. Originally published at The Conversation. As the threat of a COVID-19 pandemic emerged ...