The Atlanta Fed's macroblog provides commentary on economic topics including monetary policy, macroeconomic developments, financial issues and Southeast regional trends.
- BLS Handbook of Methods
- Bureau of Economic Analysis
- Bureau of Labor Statistics
- Congressional Budget Office
- Economic Data - FRED® II, St. Louis Fed
- Office of Management and Budget
- Statistics: Releases and Historical Data, Board of Governors
- U.S. Census Bureau Economic Programs
- White House Economic Statistics Briefing Room
April 20, 2005
Thoughts On The State Of The U.S. Economy...
... from John Irons and Arnold Kling in the newest edition of the Wall Street Journal Online's Econoblog feature. John laments the impotence of fiscal policy as a stabilization tool --
This is one of the real risks of the deficit -- that we won't be able to use spending or tax policy to soften an economic downturn.
-- but if you ask me, this goes in the column of backhanded blessings. For my money, tax and expenditure policy should always be about the long run.
For his part, Arnold makes an observation that I have long felt deserves more consideration than it gets:
I think that for the last year and a half, Sarbanes-Oxley has had a major dampening effect. In any year, a large corporation can pursue no more than two or three key initiatives. Senior management doesn't have time to pay attention to more than that and still run the baseline business. And without senior management focus, people lower down cannot get cooperation across departments or division, which you usually need to execute a new initiative. For a lot of companies, Sarbanes-Oxley compliance has been one of the top three priorities for the past year or two, which means that at most one or two other major projects have been on the plate.
I'd really be interested in seeing some serious post mortem on this.
UPDATE: Thanks to Roland Patrick for point me to his post at Let's Fly Under the Bridge related to the effects of Sarbanes-Oxley. In his post he links to an Orange County Register article on the topic, which includes this observation:
Since that regulatory law passed in 2002, hundreds of publicly traded companies, including several in Orange County, have taken this step, which is simpler and cheaper than buying out shareholders and going private. Hundreds more could soon follow, says attorney Thomas Magill, partner at Gibson, Dunn & Crutcher LLP in Irvine, who assisted Anacomp in going dark.
If you are interested in this topic, read the whole thing.
TrackBack URL for this entry:
Listed below are links to blogs that reference Thoughts On The State Of The U.S. Economy...:
- Contrasting the Financing Needs of Different Types of Firms: Evidence From a New Small Business Survey
- Gauging Inflation Expectations with Surveys, Part 3: Do Firms Know What They Don’t Know?
- Gauging Inflation Expectations with Surveys, Part 2: The Question You Ask MattersA Lot
- Gauging Inflation Expectations with Surveys, Part 1: The Perspective of Firms
- Chances of Finding Full-Time Employment Have Improved
- Exploring the Increasingly Widespread Decline in Involuntary Part-Time Work
- The Long and Short of Falling Energy Prices
- And the Winner Is...Full-Time Jobs!
- For Middle-Skill Occupations, Where Have All the Workers Gone?
- A Closer Look at Employment and Social Insurance
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- Business Cycles
- Business Inflation Expectations
- Capital and Investment
- Capital Markets
- Data Releases
- Economic conditions
- Economic Growth and Development
- Exchange Rates and the Dollar
- Fed Funds Futures
- Federal Debt and Deficits
- Federal Reserve and Monetary Policy
- Financial System
- Fiscal Policy
- Health Care
- Inflation Expectations
- Interest Rates
- Labor Markets
- Latin America/South America
- Monetary Policy
- Money Markets
- Real Estate
- Saving, Capital, and Investment
- Small Business
- Social Security
- This, That, and the Other
- Trade Deficit