Word: economists
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...Economist Richard Thaler and legal scholar Cass Sunstein, who now heads the White House Office of Information and Regulatory Affairs, think we should go even further. In their book Nudge, they sketch a system in which once a year credit-card companies would be required to break out all the fees, interest and other charges customers paid over the past 12 months. That information would come on a person's statement as well as electronically for easier comparison shopping. "By knowing their precise usage and fee payments, customers would get a better sense of what they are paying for," write...
...Economist Marc J. Melitz will return from Princeton next year to a Harvard Economics Department short on faculty. Melitz—a former associate and assistant professor at Harvard who now teaches in Princeton’s economics department and Woodrow Wilson School—is well-known for his work on international trade. “He’s been the most influential international trade economist since Paul Krugman,” said economics professor Pol Antràs, who worked with Melitz during his time at Harvard. Melitz’s influence on the study of international...
Bernanke has shown that he has evolved from being an academic to being a man of action, but he has not made any progress as an economist. He takes a position of optimism balanced by caution in almost all of his public statements, which makes them nearly useless...
...want to know what's going on in the U.S. housing market, chances are you follow the Case-Shiller index. Robert Shiller, the Yale University economist who helped create the home-price gauge, was something of a pop economist even before the real estate meltdown-a book published in 2000 warning about the coming crash in stocks made him a rock star of the last bubble, too. His latest book, Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters For Global Capitalism , was written with University of California, Berkeley economist George Akerlof. Shiller spoke with TIME...
...Then there's all that bad debt. We've now mostly worked through the subprime mortgage mess that started this whole debacle, but lots more losses - from prime mortgages, credit cards, commercial real estate, you name it - are still to come. Morgan Stanley economist Richard Berner estimated on Tuesday that even in the most bullish case, banks and other lenders have only recognized about half the $1.7 trillion in loan losses they're likely to suffer over the course of the downturn. In Berner's "bear" case, losses will top $4 trillion...