This paper considers implications associated with a Supreme Court ruling that can be interpreted as supporting use of eminent domain in transferring property rights of one private agent—a landowner—to another private agent—a developer.
While the majority of job changers who state they were not fired or laid off choose jobs with wages that are higher than their previous jobs, a substantial proportion of these job changers choose jobs that have lower wages.
In 2001, the Federal Reserve lowered the federal funds rate target more than it had in over 25 years, but long term interest rates didn’t budge. Has monetary policy become ineffective? Just the opposite, the authors argue.