Reading

Created
Tue, 03/12/2024 - 20:06
The rational expectations hypothesis presupposes — basically for reasons of consistency — that agents have complete knowledge of all of the relevant probability distribution functions. When trying to incorporate learning in these models — trying to take the heat of some of the criticism launched against it up to date — it is always a […]
Created
Tue, 03/12/2024 - 20:00
Jenny Clark and Theresa Löber The UK’s climate continues to change, getting wetter and warmer, with extremes becoming ever more pronounced. Even if we limit global warming to 1.5°C above pre-industrial levels, experts warn that we’ll see the number and severity of extreme weather events increase further. Without adaptation, we will see more property, infrastructure … Continue reading Adaptation is to mitigation what Robin is to Batman
Created
Tue, 03/12/2024 - 19:29

Labour has made good on its election promise to overturn a ‘historic injustice’ which has denied former mineworkers billions in pension payments since the privatisation of British Coal in 1994. It means more than 100,000 retired pit workers will share £1.5 billion, amounting to a 32 percent increase in annual pensions, or an average of […]

Created
Tue, 03/12/2024 - 11:30
This paper provides a comprehensive analysis of the costs of job displacement in energy-intensive industries in selected OECD countries. Based on harmonised linked employer-employee data from 14 OECD countries, we estimate the effect of job displacement in three energy-intensive industries, namely energy supply, heavy manufacturing and transport, compared to other industries. We find that workers displaced from energy supply and heavy manufacturing, experience larger earnings losses compared with workers in non-energy-intensive and transport sectors. Larger earnings losses mainly result from weaker re-employment outcomes in terms of wages and job instability but also challenges with finding another job. They reflect significant differences in the composition of workers and firms in energy supply and heavy manufacturing and the rest of the economy. Displaced workers in these sectors tend to be older, are less skilled and more likely to be previously employed in high-wage firms.
Created
Tue, 03/12/2024 - 08:30
The Trumpers think they’re a joke and that Biden has been a joke for adhering to them: Donald Trump and his incoming administration officials think Joe Biden and Kamala Harris are suckers. They’re not shy about saying it. Within the past month, Biden, Harris, and the current administration have repeatedly vowed an orderly, peaceful, fully cooperative transfer of power between Biden and Trump — a twice-impeached former president and convicted felon whom the president, vice president, and Democratic leaders regularly denounced as a “fascist” tyrant and clear threat to the constitutional order.  It hasn’t just been the legal transfer and procedures to which Democrats have committed themselves. Biden has promised to attend Trump’s 2025 inauguration, even though Trump refused to grant him the same grace after the 2020 election. Of course, then-President Trump actively sought to overturn Biden’s 2020 election victory and even helped foment a violent coup at the U.S. Capitol as part of his monthslong effort to cling to power.