Sr. Fellow, Niskanen Center
Contributor's Links: Ed Dolan's Econ Blog

Edwin G. Dolan holds a PhD in economics from Yale University. He has taught in the United States at Dartmouth College, the University of Chicago, George Mason University and Gettysburg College. From 1990 to 2001, he taught in Moscow, Russia, where he and his wife founded the American Institute ... more

ALL CONTRIBUTIONS

Take A Closer Look At Labor Force Participation. Is It Really As Good As It Looks?
The headline take-away from the October employment report was the robust gain of 250,000 payroll jobs. Still, that monthly uptick was not enough to break labor force participation out of the stagnation that has prevailed since late 2015.
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Discordant Data On Investment And Net Exports Spoil An Otherwise Bright Q3 GDP Report
US GDP continued its expansion in Q3 at a pace only slightly slower than earlier in the year. According to the advance estimate from the Bureau of Economic Analysis, GDP grew at a 3.5 percent annual rate in Q3, compared to 4.2 percent in Q2.
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Does The Government That Governs Least Really Govern Best? A Quick Look At The Data
Libertarians are fond of quoting Henry David Thoreau’s aphorism, “That government is best which governs least.” The quotation has become an axiom of those who love freedom. But is it true?
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How To Leave The Euro: A Practical Roadmap For Italy
The leaders of Italy’s new populist government say they do not want to leave the euro. Except, no one believes them.
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Inflation Increasingly Erodes Wage Gains Even As Unemployment Falls
The trends of the moving averages contain both not-so-good news and better news.
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Crop Insurance Should Die, Yet It Lives On
Insurance plays an essential role in any market economy.
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Comments

Latest Comments
Little-Watched Non-Employment Index Confirms Strength Of Job Market Recovery
1 year ago

As a further follow up to the issue of wages and jobs, check out my latest post, which explores the role of the rising cost of healthcare benefits in the slow growth of wages www.talkmarkets.com/.../employer-health-benefits-and-wages-the-good-news-and-the-bad

Little-Watched Non-Employment Index Confirms Strength Of Job Market Recovery
1 year ago

Yes, it is a bit of a mystery why wages are not responding to labor market tightening. However, whatever the answer is to the wage puzzle, I do not think that the correct answer is that the labor market has a lot of hidden slack. Something else is going on. I will try to focus on that "what else" in future posts.

Looking Behind The CPI Headlines To Spot Inflation Trends
1 year ago

As of right now, I would bet yes, but there is time for data to change before next expected increase (toward the end of the year).

What Inflation Means To You: Inside The Consumer Price Index
1 year ago

Very nice summary. It calls attention to the difference between "inflation" (an increase in the general price level) which is the Fed's worry, and changes in the "cost of living," which are strongly affected by the volatility noted in the charts.

BofA Lashes Out At The Fed: "Take That Punch Bowl Away" Or Face A Crash
1 year ago

Would it be fair to say there is a tension here between those who think the Fed should focus on asset bubbles and those who think it should put the traditional focus on the Phillips curve? The former group wants a hike, and fast; the latter thinks the timing for further hikes is all wrong, especially in view of the latest CPI release.

Health Costs Are Rising Because Of Price Controls
1 year ago

Good summary of the problems with the ACA. I 100% agree that getting rid of the tax preference for employer-provided insurance would help a great deal.

A couple points where we might differ in the way we would pursue similar goals: I agree, high risk pools are one way to handle those with pre-existing conditons, but I think universal catastrophic coverage (an idea favored even by Milton Friedman) might be better. See here for a further discussion: www.talkmarkets.com/.../unintended-consequences-of-healthcare-decentralization

Also, with regard to federalism, yes, the states have a role to play, but decentralization is a two-edged sword. Embracing it without careful planning could have unintended consequences. See here: www.talkmarkets.com/.../unintended-consequences-of-healthcare-decentralization

Will Low Inflation Delay Fed Rate Hikes?
1 year ago

Agree. I think it is also worth looking at the Cleveland Fed's unique estimates of #inflation expectations. I like them because they try to break out the risk premium factor in the TIPS spreads data to get a cleaner read on pure expectations. Look at their charts ( www.clevelandfed.org/.../...tion-expectations.aspx ) and notice how the yield curve on inflation expectations is flattening. IMO that may be the strongest point in support of the view that the case for rapid rate hikes is weakening.

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Ed Dolan
Libertarians rejoice! Congress is about to make rope legal. No joke, that's not a typo. I mean ROPE, not dope. https://t.co/LMIdmsN4La
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If you're as confused about Brexit as I am, this Brookings explainer may help: The Brexit endgame: Deal or no deal?… https://t.co/LBcEHdIPJ3
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PERSONAL BLOG

Latest Posts
What A Good Conservative Health Care Plan Would Look Like
Senate Republicans have fallen short in their first attempt to attract 50 votes for their health care bill. Small wonder.

Work Experience

Senior Fellow
Nisanen Center
January 2017 - Present (1 year 11 months)

Education

Yale University
Phd
1966 / 1969
Economics
Indiana University Bloomington
BA, MA
1963 / 1966
Economics, Russian-East European Institute
Earlham College
1960 / 1963
Russian Language

Publications

Introduction to Economics
Edwin G. Dolan
BVT Publishing
01/01/2016

A complete textbook and ancillary package for your principles of economics course, available in paperback (complete, micro-only, macro-only), e-book, loose-leaf print edition, and other variants, at a price your students can afford.

TANSTAAFL: A Libertarian Perspective on Environmental Policy
Ed Dolan
Searching Finance
09/15/2011

This update of my 1971 classic covers a wide variety of environmental issues with new commentaries on climate change, energy policy, ecosocialism, and more.