Why are California Foreclosures and NODs are Slowly Falling?

Mary Hanley and Dan Hamilton

The January 25, 2011 DataQuick press release shows that both foreclosures and notices of defaults have fallen almost everywhere in California. Statewide foreclosures have fallen 21.9% from last quarter and more than 30% from the fourth quarter of 2009. The large drop in foreclosures may indicate lenders’ hesitancy to . . . → Read More: Why are California Foreclosures and NODs are Slowly Falling?

2010 Q4 United States Gross Domestic Product

The BEA released their first estimate of United States 2010 quarter 4 GDP this morning. The economy grew at 3.2 percent in the fourth quarter which is an acceleration from the previous quarter’s 2.6 percent. The acceleration in growth was primarily driven by consumption growth, fixed investment, and declines in imports. Imports are a . . . → Read More: 2010 Q4 United States Gross Domestic Product

John Taylor

I heard John Taylor, a respected Macroeconomist with an extensive academic research record and lots of actual public policy experience, speak on Friday. The full text of Professor Taylor’s speech is here.

Flanked by a large number of distinguished economists, he spoke about monetary and fiscal policy, making a distinction between rules-based policy and . . . → Read More: John Taylor

Rational Expectations

Written January 6, 2011

The Allied Social Science Associations meetings are currently being held in Denver. These meetings are the largest set of Economics meetings on the planet. At 2:30pm today, I had 65 different sessions to choose from! And there are a similar plethora of sessions to choose from at nine different time-slots, . . . → Read More: Rational Expectations