The larger-than-usual downward revision last month was in large part driven by a negative skew in the job growth distribution among late reporting firms. That’s unusual, but it’s happened before when the pace of job growth slows rapidly. This print is more evidence that was the case

Unemployment insurance raises workers' bargaining power and wages, new research from @davidwiczer.bsky.social @atlantafed.org & co-authors.
#EconSky
www.atlantafed.org/research/pub...

Households often use stimulus checks to repay their debt. How does this affect the effectiveness and design of fiscal policy?

Check out the @FacultiNet video where we discuss our joint work with Davide Melcangi, @pilossopher.bsky.social, and @davidwiczer.bsky.social

faculti.net/debt-stimulu...

A fun/important little piece with @AtlantaFed
colleagues. Our survey center asked firms how exposed their supply chain was to imports. More import-intensive firms expect to raise prices more *and* the more their competitors import,the more they'll raise.
www.atlantafed.org/research/pub...

nvm

The question here is how to read different sources. I think that JOLTS are tricky now because vacancy yields are so low. It can inflate the stock, and we saw that... Fewer hires than would've been expected from this tightness ever since the end of the pandemic.

Forthcoming in AEJ: Macroeconomics: "‘Less is More’: Consumer Spending and the Size of Economic Stimulus Payments" by Michele Andreolli and Paolo Surico. www.aeaweb.org/articles?id=...

Huge if true!

My recent op-ed in Project Syndicate (with @ygorodnichenko.bsky.social and others) lays out some arguments for why Trump should support a victory in Ukraine.

Check it out. Key points summarized below.

www.project-syndicate.org/commentary/a...

Pete Buttigieg told Democrats to not allow themselves to be so outraged by the Trump administration that they would neglect working for their constituents. “We cannot be mesmerized by the worst things that we see happening,” Buttigieg said. nyti.ms/3ZiKILz

I love this: tariffs are expected to have an even bigger final goods price effect because of their effects on intermediate input prices...this'll be interesting learning where the market power is, i.e. who passes what through

Authenticating your Bluesky identity involves a custom domain. Given that your RePEc account is authenticated, you can also do it by having your Bluesky handle listed on your RePEc profile. Not perfect, but it works among economists.

authors.repec.org

#EconSky #RePEc

You can now list your Bluesky account in your RePEc profile, like you already could for Mastodon and Twitter. Log in at the RePEc Author Service, click on "contacts", enter it and save. It will be listed on your profile at IDEAS after the next nightly refresh.

authors.repec.org

#econsky #RePEc

Fun little Policy Hub piece from Pat Higgins, Melinda Pitts, and me (doi.org/10.29338/ph2...). The basic point was to highlight how concentrated among a few industries was employment growth in the past bit.

Good piece from @jerusalem.bsky.social about how Democrats are on the verge of NIMBYing themselves into being uncompetitive in presidential elections.

www.theatlantic.com/politics/arc...

The Onion, a satirical publication that skewers newsmakers and current events, said on Thursday that it had won a bankruptcy auction to acquire Infowars, a website founded and operated by the conspiracy theorist Alex Jones. nyti.ms/4fqnxEF