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Demographics and the US Economy
How much can demographic changes account for trends in the U.S. economy? This paper shows that a heterogeneous-agent, overlapping-generations model with historical demographic flows can generate several features of the U.S. economy over the past several decades, including a secular decline in economic growth, a rise in savings relative to GDP, a corresponding decline in real interest rates, and, in part, changes in wealth inequality.
Jorge Barro November 11, 2022
Putin Russian
Why Putin is Doubling Down in Ukraine
Russia is losing the war in Ukraine, and Russian President Vladimir Putin, faced with this truth, has decided to double down on his efforts. Fellow Joe Barnes explains how Putin has boxed himself into a corner — and why this makes him so dangerous.
Joe Barnes October 11, 2022