Recession Math

US Economy - Recession Math
http://www.washingtonpost.com/business/economy/the-simple-math-of-recession/2011/10/12/gIQAszvWiL_print.html

Also, economic slowdown reaches Asia:

India Needs More Elite Private Universities

http://www.nytimes.com/2011/10/14/world/asia/squeezed-out-in-india-students-turn-to-united-states.html

From the NYTIMES article:

“Moulshri Mohan was an excellent student at one of the top private high schools in New Delhi. When she applied to colleges, she received scholarship offers of $20,000 from Dartmouth and $15,000 from Smith. Her pile of acceptance letters would have made any ambitious teenager smile: Cornell, Bryn Mawr, Duke, Wesleyan, Barnard and the University of Virginia.

But because of her 93.5 percent cumulative score on her final high school examinations, which are the sole criteria for admission to most colleges here, Ms. Mohan was rejected by the top colleges at Delhi University, better known as D.U., her family’s first choice and one of India’s top schools.

 ….

This summer, Delhi University issued cutoff scores at its top colleges that reached a near-impossible 100 percent in some cases.”

Dani Rodrik on Milton Friedman

A Thought-Provoking Article on the State vs. Free Markets Debate:
http://www.project-syndicate.org/commentary/rodrik62/English

Which Way Will the Dollar Go?

http://www.bloomberg.com/news/2011-10-11/top-currency-forecasters-say-best-over-for-dollar-as-fed-embraces-easing.html


Note the extraordinary volatility in dollar exchange rate this year:

Two Eminent Economists Win the Nobel Prize

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2011 was awarded to:

Thomas J. Sargent, Christopher A. Sims

Non-Technical Summary of their Contributions to the Field:

http://www.nobelprize.org/nobel_prizes/economics/laureates/2011/info.pdf

Technical Summary of their Contributions to the Field:

http://www.nobelprize.org/nobel_prizes/economics/laureates/2011/ecoadv11.pdf

Fun Readings:

Economist Edward Glaeser discusses the contributions of this year's Nobel Laureates:
http://www.bloomberg.com/news/2011-10-10/nobel-winners-saved-macroeconomics-after-keynes-edward-glaeser.html

Prof. Sargent's excellent and brief UC Berkeley Graduation Address:
https://files.nyu.edu/ts43/public/personal/UC_graduation.pdf

Fed-Minneapolis Interviews:
Sargent Interview
Sims Interview

Update:

More Accolades for the 2011 Economics Nobel Laureates

Nobels Give Econometrics Pioneers Their Due by Lars Peter Hansen

http://www.bloomberg.com/news/2011-10-13/nobels-give-econometrics-pioneers-their-due-lars-peter-hansen.html

Realism rewarded – The Economist

http://www.economist.com/node/21532266

Emerging Market Issues

Brazil Hopes to Avoid Past Mistakes:

http://www.nytimes.com/2011/10/09/world/americas/dilma-rousseff-and-brazil-face-stiff-economic-test.html

Time to Get Back in to EM Stocks?

http://www.nytimes.com/2011/10/09/business/mutfund/emerging-economies-look-tough-but-what-of-their-stocks.html

On US Economic Challenges

David Leonhardt Jumps on the Great Stagnation Bandwagon:

http://www.nytimes.com/2011/10/09/sunday-review/the-depression-if-only-things-were-that-good.html

Is the US Already in a Recession?

http://www.nytimes.com/2011/10/09/your-money/a-recession-forecast-that-has-been-reliable-before.html

Stimulus Debate:

http://www.washingtonpost.com/business/financial-crisis-and-stimulus-could-this-time-be-different/2011/10/04/gIQALuwdVL_print.html

Deciphering Exposure of US Financial Institutions to Euro-zone:

http://www.nytimes.com/2011/10/09/business/what-investors-dont-know-about-europe.html