Business Economics

Professional journal of the National Association of Business Economists covering topics such as macro and microeconomics, monetary and fiscal policy, business forecasting, international economics, and deregulation.

Articles from Vol. 47, No. 3, July

Choices for Federal Spending and Taxes
Although weakness in the U.S. economy is an important factor in current federal budget deficits, even robust growth will leave unsustainable deficits unless there are major changes in federal policies. Moreover, deficits cannot be eliminated by reversion...
Economic Sanctions against Iran: Is the Third Decade a Charm?
This paper provides background and history of economic sanctions on Iran. Particular attention is paid to the effectiveness of the sanctions and to factors that have mitigated their effectiveness. The United States and other countries have joined in...
From the Editor
Last year, the Peter G. Peterson Foundation made a generous grant to the NABE Foundation for the purpose of expanding the audience of the Economic Policy Conference, and the NABE Board of Directors decided that devoting a special issue of Business...
Impact of a Middle East Oil Export Disruption
Two ways that oil exports from the Middle East can be disrupted in the current political climate are sanctions on Iran and Iran blockading the Strait of Hormuz. In considering the impact that these actions might have on the United States and other...
Medical Malpractice Liability and Physician Migration
This paper uses national data on individual physicians and two control groups to provide evidence on the extent to which each of five medical malpractice reforms impacts the decision to move one's medical practice to another state. We find robust evidence...
Milton Friedman: A Concise Guide to the Ideas and Influence of the Free-Market Economist
By Eamonn Butler. 2011. Great Britain: Harriman House, Ltd., Pp. 163, $19.99, paperback. Toward the end of his life, John Kenneth Galbraith summed it up nicely. "The age of Keynes," he wrote, "has given way to the age of Milton Friedman." What exactly...
Money Well Spent? the Truth Behind the Trillion-Dollar Stimulus, the Biggest Economic Recovery Plan in History
By Michael Grabell. 2012. New York: Public Affairs. Pp. 416. $28.99, hardcover. On February 17, 2009, just four weeks after taking office, President Obama signed the American Recovery and Reinvestment Act (ARRA), commonly called the "stimulus bill."...
Musings on the Macroeconomic Effects of Oil Price Increases
In considering the macroeconomic effects of oil price increases, it is important to he mindful of whether changes come from the supply or demand side and whether they are accompanied by impacts on financial markets. Also, it is important to know whether...
Perpetuating Puffery: An Analysis of the Composition of OMB's Reported Benefits of Regulation
The Office of Management and Budget reports that the benefits of regulations issued over the last decade exceed the costs by an order of magnitude. But how accurate are those estimates? Over 80 percent of total reported regulatory benefits derive from...
Tough Love: The True Nature of the Eurozone Crisis
There are a number of misconceptions about the ongoing Eurozone crisis. One is that it is a debt crisis: in fact many countries that are considered to be reasonably sound have bigger long-term fiscal deficit problems than even the weakest Eurozone...
Toward a More Comprehensive Measure of Labor Underutilization: The Alabama Case
Workers in occupations that underutilize their education or training, experience, and skills are underemployed. This worker underemployment presents economic development opportunities through selective job creation and industry growth. Businesses benefit...