USMCA Deadline Missed, Congress Sidelines Trade Deal
"US, Mexico, Canada to Miss July USMCA Date, Ramping Up Trade Tension" https://t.co/AywJAoOnmu Once again, Congress is sidelined: https://t.co/RkbkhmE3tQ
US Tariffs Prompt Chinese Firms to Relocate Production to Mexico
Fascinating new Fed paper on how supply chains - and Chinese FDI/exports - shifted to Mexico after US tariffs on Chinese imports in 2018-19, and what this says about the current US global tariffs and the AI boom: https://t.co/tZ7n8dQvM9 https://t.co/JxUm12J9iA
Quarter of US‑Made Boots Failed Marine Inspection
"The alarm over the BOOTS Act is easy to understand. Last year, the Marine Corps found quality problems so severe that nearly 25 percent of inspected US-made boots were returned to manufacturers." https://t.co/WZa7KBir6s https://t.co/xmaveOVivh
Medicare Home Health Fraud Costs $520 Million in 2008
New @nberpubs: "Medicare Home Health Fraud: How Much, Where, and Who?" https://t.co/HN9dHRMwFB "We estimate that in 2008, 3.4% of Medicare home health spending — about $520 million — was billed by fraudulent HHAs." https://t.co/cOJO4vK56p
Med
New @nberpubs: "An Unfunded Mandate? Medicaid Continuous Coverage Requirements and State Fiscal Burdens During COVID-19" https://t.co/LEqAlzf02u "states’ share of the continuous coverage provision's costs was $139.2 billion, which is roughly $11.0 billion less than the revenues states received"
ACA Cuts Uninsured, Shifts Some to Public Coverage
New @nberpubs: "How Efficient was the Affordable Care Act at Reducing Uninsured Rates?" https://t.co/nj65PfrB3o "For adults with incomes between 151%–400% FPL, each percentage point increase in public coverage was associated with about a 0.6 percentage point decrease in uninsured and a...
Individual Landlords Own Majority of U.S. Rental Units
New @nberpubs: "Towards a Methodology for Measuring Rental Property Ownership in the United States" https://t.co/GWlAblsl11 "we find that individual landlords own a large majority of rental units" https://t.co/9aSqWneGrf
U.S. Factories Depend on Foreign Gear, Hit by Steep Tariffs
"The equipment I need to put in that factory, it’s not made in America. We’ve got drum lines coming from New Zealand. We need some stuff from China. But the equipment I’m bringing over, we’re paying tariffs on it that...
Automakers Lose Billions to Trump Tariffs, Seek Survival Strategies
"Why automakers are bleeding billions under Trump tariffs — and scrambling for survival strategies" https://t.co/1BlmL09h22
NYC's New Second‑home Tax Will Double Wealthy Owners' Bills
"New York City’s new tax on second homes will more than double property taxes owed by many wealthy luxury apartment owners" https://t.co/Ox2SgA0Hx5 This will be fun to watch - from afar. https://t.co/kgF37rHAI4
Outdated Clean Air Act Stalls TSMC Arizona Fab
Good summary of how the Clean Air Act's antiquated rules have needlessly slowed TSMC's fab construction in Arizona: https://t.co/XibIbK8jzB https://t.co/MPBLxySre4
Jones Act Waiver Reveals Deep U.S. Maritime Flaws
😍 https://t.co/9V2AUcG0EJ "the [Jones Act] waiver is exposing deeper structural weaknesses inside the U.S. maritime sector as energy companies increasingly turn to foreign-flagged tonnage for flexibility, speed and lower transportation costs during times of crisis" https://t.co/hJ7WjnkEvI
Temporary
New @nberpubs: "Unlocking Mortgage Lock-In: Equilibrium Effects in a Spatial Housing Ladder Model" https://t.co/JzXAeBI1wS "A temporary rate hike causes lock-in, increasing aggregate house prices by 4.4% and rents by 1.5% relative to a counterfactual without lock-in" https://t.co/55VqtrmtJP
Official Inflation Stats Understate Income Gap by Up to 90%
New @nberpubs: "Cheapflation Cycles" https://t.co/yk60z2ZkXb "Official statistics mask these within-category differences in inflation and thus understate the differences in inflation experienced by low- and high-income households by 70–90 percent." (Relevant for US input tariffs, too)
Higher Labor Market Fluidity Boosts Wages and Productivity
"Labor Market Fluidity, On-the-Job Learning, and Career Growth Across Countries" https://t.co/NSlsUMzcs5 "Moving from a low- to a high-fluidity country... raises life-cycle wage growth by 19.4 log points and output per worker by 33.4 log points." https://t.co/zUN0TnZw1e