Whiskey-Tango-Foxtrot-Bang-Query-Bang-Query Thursday Weblogging: Simon Wren-Lewis and Chris Dillow on Robert Lucas's and John Cochrane's Mistakes and Ideology in Macroeconomics
Matthew Yglesias: Scalise's Obamacare replacement is a beautiful unicorn: Noted

Noted to Aid Your Lunchtime Procrastination for September 19, 2013

  1. "The crisis has provided evidence that fiscal policy is an appropriate countercyclical policy tool when monetary policy is constrained by the zero lower bound, the financial sector is weak, or the output gap is particularly large": IMF: Reassessing the Role and Modalities of Fiscal Policy in Advanced Economies
  2. "The FOMC is now on the record that they are unhappy with 10y yields at these levels given the current backdrop, at least for now and that a 7% UER rate no longer means no more QE. These dovish shifts were surprising because the data appears to have come in inline with the Fed’s own projections, and Bernanke said so. The Fed seems most worried about the rise in mortgage rates and potentially the fiscal issues ahead, and it appears they want to take out some insurance against that": Macro Man: Guiders 1 - Bond Vigilantes 0 - Guidance minus 1.
  3. "New estimates released today from the Office of the Actuary at the Centers for Medicare and Medicaid Services (CMS) project that aggregate health care spending in the United States will grow at an average annual rate of 5.8 percent for 2012–22, or 1.0 percentage point faster than the expected growth in the gross domestic product (GDP). The health care share of GDP by 2022 is projected to rise to 19.9 percent from its 2011 level of 17.9 percent": * Chris Fleming: US Health Spending Growth Projected To Average 5.8 Percent Annually Through 2022*
  4. "In 1973, a [median] American household… earned $48,557 in inflation-adjusted dollars. In 2012, the typical household earned $51,017…. In 1973, a typical American man who worked full-time and year-round took home $51,670. In 2012, the median full-time, year-round male worker earned $49,398": John Cassidy: Four Lost Decades: Why American Politics Is All Messed Up
  5. "Those who love sausage and the scriptures shouldn’t watch either of them being made": Jim McDonald: Victory to the People
  6. "When I started blogging… I worried that my ability to write longer essays or books would suffer. The brain muscles associated with longer compositions, structured essays, or book-length arguments… might atrophy…. But I was wrong": Andrew Sullivan: How Blogging Makes You A Better Writer

And:

Plus:

Short:

Harold Pollack: Reality-Based Mental Health Reform | Tom Levenson: American Exceptionalism, Healthcare Division | Jeff Jacoby: Wellesley faculty defend an endangered 'colleague'--in China | Tim Duy: Summers Out, Yellen In? |

Long:

Hal S. Scott: Interconnectedness and Contagion |

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