The latest Mercatus research, media, commentary, and events delivered week by week.
Regulation
Mortality Risk Analysis for the Occupational Safety and Health Administration’s Occupational Exposure to COVID-19 Emergency Temporary Standard
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November 4, 2021
For economically significant regulations (those with annual costs, benefits, or both exceeding $100 million) executive branch agencies produce regulatory impact analyses (RIAs). RIAs should include information about the problem an agency is trying to solve, various alternative ways of addressing that problem to achieve a desired outcome, and an assessment of the costs and benefits of each policy option to identify the alternative with the most net societal benefits.
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Did Basel III Regulations Dampen Lending at Large Banks?
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November 3, 2021
Research
Industry Size and Regulation: Evidence from US States
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November 2, 2021
Research
Cutting Red Tape in Kansas: A Menu of Options
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November 1, 2021
Research
Monetary Policy
The Neutral Level of NGDP and the NGDP Gap: Q3 2021
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November 3, 2021
The nominal GDP (NGDP) gap, a measure of unexpected changes in the dollar size of the US economy, is calculated as the percentage difference between the actual and the neutral levels of NGDP. The neutral level of NGDP, in turn, is a sum of all dollar incomes expected by households and businesses coming into a specific time period and is created using data from consensus forecasts. In the third quarter of 2021, the median NGDP gap rose to 0.70 percent, up from the previous quarter’s value of −0.02 percent.
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Will the Fed Curb Inflation, or Will Politics Prevail?
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November 3, 2021
Editorial
Long-Haul Inflation Fears
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October 18, 2021
Video
Antitrust Policy
Tech Platforms and Market Power: What’s the Optimal Policy Response?
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November 1, 2021
This paper provides a comparative institutional analysis of the leading approaches to addressing the market power of large digital platforms: (1) the traditional US antitrust approach; (2) imposition of ex ante conduct rules such as those in the EU’s Digital Markets Act and several bills recently advanced by the Judiciary Committee of the US House of Representatives; and (3) ongoing agency oversight, exemplified by the UK’s newly established “Digital Markets Unit.” After identifying the advantages and disadvantages of each approach, this paper examines how they might play out in the context of digital platforms.
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Consumer Welfare-Based Antitrust Enforcement is the Superior Means to Deal with Large Digital-Platform Competition Issues
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November 2, 2021
Editorial
Foreign Policy
The China Challenge: Nuclear Deterrence and Soft Power
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November 1, 2021
Recently, Secretary of the Air Force Frank Kendall said his three most important priorities were “China, China and China.” In a speech before the Air Force Association’s Air, Space and Cyber Conference in Washington, D.C., on Sept. 20, he expressed deep concerns in particular over Beijing’s rapid expansion of its nuclear forces into what he described as a “first strike” capability. This, along with China’s advances in space warfare and modernizing of its conventional forces, defines the threats facing the United States—as the Air Force sees them—from this would-be hegemon.
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China and the EU Are No Examples for U.S. Tech Innovation
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November 2, 2021
Editorial
Business & Economics
Has the Pandemic Shifted the Labor Market to a New Normal?
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November 5, 2021
The October jobs report from the Bureau of Labor Statistics finally provided some good news from the labor market, after two months of disappointing job growth. But while breathing a small sigh of relief, there’s still reason to worry about the overall labor market recovery.
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Industrial Policy Advocates Should Learn from Don Lavoie
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November 5, 2021
Editorial
Washington’s Hunt for Revenue Turns Up an Unworkable Tax on Wealth
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November 3, 2021
Editorial
I, Supply Chain
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November 2, 2021
Editorial
Economists Are On the Frontline to Help the World Fight Climate Change
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October 31, 2021
Editorial
Stablecoins Won’t Be So Stable, and That’s Fine
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October 29, 2021
Editorial
Here Comes the Hypocritical Global Minimum Tax
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November 4, 2021
Editorial
Podcasts
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Robert Orr on Supply Side Bottlenecks in the US Healthcare System and Solutions for Reform
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November 1, 2021
Robert Orr is a policy analyst at the Niskanen Center where he focuses on welfare, healthcare, and labor market policy. Robert joins Macro Musings to talk about one of the more important sectors of the US economy, healthcare, and some of the biggest supply side bottlenecks the industry faces. Specifically, David and Robert discuss the uniqueness of the US healthcare system, the reason for massive spending within the healthcare industry, and how to fix the supply bottlenecks that have emerged.
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Ideas of India: Female Leaders and Bureaucratic Resistance
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November 4, 2021
This episode is the fourth in a miniseries of weekly short episodes featuring young scholars entering the academic job market who discuss their latest research. In this episode, Shruti talks with Bhumi Purohit about her job market paper, “Bureaucratic Resistance Against Female Politicians: Evidence from Telangana, India.” They discuss female leaders’ access to networks, gender quotas, expanding women’s access to social and political capital, and much more.
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David Salle on the Experience of Art
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November 3, 2021
When the audience for visual art expanded from small circles of artists and collectors into broader culture, the way art was experienced shifted from aesthetics to explanation. Art, it became thought, should be about something. But David Salle rebukes this literal-mindedness: according to him, what we think and feel when reacting to a piece of art is more authoritative than what’s written on the label next to it. A painter, sculptor, and filmmaker, David is also the author of How to See: Looking, Talking, and Thinking about Art, a highly regarded book on artistic criticism.
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