Menzie Chinn
mchinn.bsky.social
Menzie Chinn
@mchinn.bsky.social

Professor of Public Affairs and Economics, University of Wisconsin, and Blogger at Econbrowser. All views are my own.

Menzie David Chinn is a professor of public affairs and economics at the University of Wisconsin–Madison, co-editor of the Journal of International Money and Finance, and a Research Associate of the National Bureau of Economic Research International Finance and Macroeconomics Program. .. more

Economics 93%
Business 4%

Prospects for information technology related capital investment - what happened in 2000-01? #EconSky
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Output, unemployment gaps for 2025Q3 according to CBO measures, and latest available data #CBO #EconSky
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Pawel Skrzypczynski compiles a list of announced economic release dates so you don't have to search; here're some alternative business cycle indicators in the meantime (the freight recession is here!) #EconSky
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Conference Board confidence drops 1 std deviation, to 88.7 v 93.5 consensus; expectations of future conditions fall #EconSky
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@cfr.org Brad Setser @omfif.bsky.social Mark Sobel on yuan undervaluation #EconSky #BigMac
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Forward P/E ratios for Mag 7 (not incl Friday rebound) #EconSky
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EJ Antoni on reserves held by Fed, in $ #EconSky
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Reposted by Aaron Sojourner

Manufacturing employment, hours in September - where's the manufacturing renaissance I was promised? #EconSky
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Reposted by Menzie Chinn

Value is the product of volume and unit price. We obtain data on the unit prices of exports to Russia for many countries, including China and Türkiye. China accounts for ~50% of Russia’s imports. When we look at HS data at 6-digit level, unit prices of sanctioned goods to Russia are up 75%!

3/
Heli Simola and I wrote about the effect of sanctions on unit prices of Russia’s imports. I.e., how much does Russia have to pay more for goods EU & co have sanctioned, when it imports them from China, Türkiye and other countries?
@bofit.suomenpankki.fi DP 8/2025
🇷🇺🇨🇳🇹🇷
1/

www.bofit.fi/en/

No October CPI for you (ever), but nice hole in the ground where the East Wing used to be -- thinking about "essential" during a shutdown. Hope you don't have any TIPS #EconSky
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Michigan consumer sentiment near all-time low (which was in June 2025). Using EJ Antoni definition, we're in a recession #EconSky
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See orange line here:

Reposted by Menzie Chinn

NEW: Saudi crown prince gifts Trump solid gold bone saw www.duffelblog.com/saudi-crown-...
Saudi crown prince gifts Trump solid gold bone saw
Kingdom's sharp diplomatic gesture cuts through red tape and flesh
www.duffelblog.com

First number is from survey of establishments; second is from survey of *households*.

EJ Antoni identifies a vast conspiracy at BLS - "edged up" are fightin' words #EconSky
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UPDATE: Mild upside surprise on NFP, private NFP (given August numbers downwardly revised) #EconSky
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Nowcasted GDP (4.2% q/q AR) and predicted employment growth diverge; nowcasted GDP and "core GDP" aren't back to pre-Trump trends #EconSky @AtlantaFed.org @philadelphiafed.bsky.social
econbrowser.com/archives/202...

Reposted by Menzie Chinn

BLS confirms that October jobs report will not be released, but that October payroll numbers will be published with the November report

S&P500, BTC and VIX; are we past peak? #EconSky
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Were per square foot housing prices constant in real terms 1978-2020? #EconSky

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Some time series on "house affordability" for the skeptical #EconSky
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How far apart is Miran from Taylor? #EconSky
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AIER Everyday Price Index trajectory vs. 2024 stochastic trend #EconSky
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On coffee, little respite and mostly talk re: grocery-related tariff relief #EconSky

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Reposted by Michael Kevane

How to detect "wag the dog" behavior: Epstein/Venezuela edition #EconSky
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What about deportations/removals as well as tariffs in housing costs? #EconSky
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EJ Antoni (who thought a parameter was small -- when it's actually big -- because he put a percentage variable in decimal form on the LHS, and percentage point variable on the RHS) proposes improvements to the BLS - yeesh #EconSky
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Deportations actually _increase_ housing prices because they shrink the construction industry.

The reduction in new houses being built swamps effects from lower demand