Categories:
Economic Education
Income Distribution
Professor Donald Lacombe of Ohio University is offering a course in Econoblogging! Will this test Tyler’s assertion that the best way to learn economics nowadays is through blogs?
In addition to blogs, a venerable source of economic wisdom is the Congressional Budget Office. CBO director Peter Orszag combines the two. In a recent post, he summarizes research on income volatility.
CBO has now examined the volatility of household income (rather than workers’ earnings volatility, the subject of our study in 2007). The preliminary results suggest that household income is much less volatile than individual worker’s earnings, and that household income volatility has not increased over time — and perhaps even declined slightly.
READER COMMENTS
John Thacker
Jan 8 2008 at 9:45am
The result seems to be an intuitively plausible one based on the historic increase in women working; a two income household is much more likely to have hedges that smooth out family income. (So too with households where one partner, or children, search for work only when necessary.) My only caveat would be that this (understandably) continues the accounting practice of valuing the work of a homemaker at zero.
Donald Lacombe
Jan 8 2008 at 9:52am
Thank you for the link! I will be posting daily updates of the progress we make in class. It’s a complete experiment and hopefully I can get the participation of those not enrolled as well.
Troy Camplin
Jan 8 2008 at 2:08pm
Do the econobloggers have to be economists? Or does covering economics in your blog n a regular basis make you an econoblogger? What qualifies you? I have a Ph.D. in the Humanities, and I blog — does that make me a humaniblogger?
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