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A metaphor for why Goodness of Fit tests are, well, not very good.

posted to Richard's Real Estate and Urban Economics Blog on Wed 15th May 13

I am proud to say I learned my econometric from Art Goldberger, who had little use for R-squared.Anyway, a smart friend of mine (who works in industry and therefore might not want to be named) pointed out that he could probably fit the brushstrokes of a Jackson
A painting by Morgan Green

posted to Richard's Real Estate and Urban Economics Blog on Sun 5th May 13
Reposting from my Forbes blog: the debate on Debt and GDP

posted to Richard's Real Estate and Urban Economics Blog on Thu 18th Apr 13

My two cents:Within the past day or so, economics conversations have been all about Rogoff and Reinhart and their critics, Herndon, Ash and Pollin. The Rogoff and Reinhart (RR) paper purported to show that countries with more debt grow

If not Ben, then who?

posted to Richard's Real Estate and Urban Economics Blog on Fri 22nd Jan 10

I wish that those who are trying to block Bernanke would let us know a better alternative--I can't think of one. Bernanke is smart, honest, and while he made mistakes, he showed a great deal of flexibility (and a willingness to learn) in response to the crisis.
$4 per gallon gasoline and the urban land market

posted to Richard's Real Estate and Urban Economics Blog on Sat 14th Jun 08

Over the past six years, the price of gasoline has risen about $2 per gallon. What does this mean for relative urban land prices?Let's say the average household makes five one-way trips per day--for work, shopping, entertainment, etc. Let's also say that the
Should college be subsidized?

posted to Richard's Real Estate and Urban Economics Blog on Sat 9th Feb 13

Mark Thoma has a very nice piece today about how Cal State-Chico changed his life. One of the reasons it changed his life is that he could afford it--it cost $100 per semester when he went there. The story is heartwarming, to say the least.I have

Links for 04-19-2013

posted to Economist's View on Fri 19th Apr 13

Europe Fails to Learn the Lessons of History - Brad DeLongThe reason macroeconomics doesn't work very well - NoahpinionAn Understandable Mistake - mainly macroNo Time for Austerity: US Edition - EconbrowserMore Bad Excel - The Baseline ScenarioCorrelation,
Links for 03-11-2013

posted to Economist's View on Mon 11th Mar 13

The Unlikely Friends of Austerity - mainly macroWhat Does Jeff Sachs Think That He Is Doing? - Brad DeLongThe Strange Attack of Jeffrey Sachs on Paul Krugman - Dean BakerAny Way You Cut It, We've Got Big Economic Problems - Kevin DrumSachs Accuses Krugman of
Links for 03-05-2013

posted to Economist's View on Tue 5th Mar 13

Sessions Isnt a Wonk McCarthyite, or a Wonk Anything - Jonathan ChaitHow sports analytics have become a real game-changer - MIT NewsPolicy wonks, pitchforks, and the contradictions of capitalism - InterfluidityMeasuring the Quality of an Estimator - Dave GilesCan