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Southern Economic Journal

@southerneconj.bsky.social

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The Southern Economic Journal is a publication of the Southern Economic Association. The SEJ began its publication in 1933.

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Southern Economic Journal @southerneconj.bsky.social · 1d

Vitor Melo of @rand.org, @lsigaud.bsky.social of @westvirginiau.bsky.social, Elijah Neilson of Southern Utah University, and Markus Bjoerkheim of the Joint Economic Committee Republicans offer the first estimate of the causal effects of CON laws on rural and urban healthcare access.
#Regulation

Rural healthcare access and supply constraints: A causal analysis

Certificate-of-Need (CON) laws require that healthcare providers receive approval from a state board before offering additional services in a given community. Proponents of CON laws claim that these ...

Southern Economic Journal @southerneconj.bsky.social · 6d

"Certificate-of-Need laws in healthcare: A comprehensive review of the literature," by Matthew D. Mitchell of the Fraser Institute.
#CertificateOfNeed #Healthcare #Regulation

Certificate‐of‐Need laws in healthcare: A comprehensive review of the literature

Certificate-of-Need (CON) laws limit the supply of healthcare services in about two-thirds of U.S. states. The regulations require those who wish to open or expand their facilities to first prove tha....

Southern Economic Journal @southerneconj.bsky.social · 8d

The symposium introduction by Edward J. Timmons of Archbridge Institute examines the question: "Is certificate-of-need needed?"
#CertificateOfNeed #RuralPatients #SubstanceUseDisorderTreatment #LaborMarket

Symposium introduction: Is certificate‐of‐need needed?

Certificate-of-need (CON) laws have been extensively studied in the existing literature, but important questions remain on their broad effects in specific settings and select outcomes. In this sympos...

Southern Economic Journal @southerneconj.bsky.social · 13d

"Further evidence on inflation targeting and income distribution," by @jtcoys.bsky.social of @uniofeastanglia.bsky.social and Chrysovalantis Vasilakis of @bangoruniversity.bsky.social.
#IncomeDistribution #InflationTargeting #MonetaryPolicy
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Further evidence on inflation targeting and income distribution

This paper examines the effect of inflation targeting (IT) on income distribution in a panel of 70 countries. Employing panel regressions and a variety of propensity score matching methods, we find s....

Southern Economic Journal @southerneconj.bsky.social · 15d

C. Richard Higgins of @colgate.edu and Irfan A. Qureshi of @adb.org examine the macroeconomic impact of changing central bank leadership.
#MonetaryPolicy #Inflation

Changes in central bank leadership and inflation dynamics

The macroeconomic impact of changing central bank leadership is examined. We empirically show that frequent changes in central bank leadership are associated with more volatile inflation rates. To pr....

Southern Economic Journal @southerneconj.bsky.social · 20d

"Enhancing resilience with natural growth targeting," by Athanasios Orphanides of MIT.
#FederalReserve #MonetaryPolicy #Pandemic
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Southern Economic Journal @southerneconj.bsky.social · 22d

Joshua Hendrickson of @olemiss.bsky.social makes the case for a nominal GDP level target in the United States.
#FederalReserve #MonetaryPolicy #NominalGDP

The case for nominal GDP level targeting

In this paper, I make the case for a nominal GDP level target in the United States. I begin by arguing that the Federal Reserve's current flexible average inflation targeting regime is deficient. I t....

Southern Economic Journal @southerneconj.bsky.social · 27d

"The fate of FAIT: Salvaging the Fed's framework," by @davidbeckworth.bsky.social of the Mercatus Center and Patrick J. Horan of Fiscal Lab on Capitol Hill.
#FederalReserve #Inflation #MonetaryPolicy

The fate of FAIT: Salvaging the Fed's framework

The Federal Reserve's transition to a flexible average inflation targeting (FAIT) framework in 2020 has come under intense scrutiny, given its failure to prevent the recent inflation surge. These dev...

Southern Economic Journal @southerneconj.bsky.social · 29d

Lawrence H. White of @georgemasonu.bsky.social explores if the Federal Reserve should raise its inflation target.
#FederalReserve #Inflation #Recession
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Should the Federal Reserve raise its inflation target?

Standard economic reasoning shows that higher inflation imposes higher tax rates on money balances and unindexed savings, causing financial losses to households and reducing their real incomes. The l...

Southern Economic Journal @southerneconj.bsky.social · Sep 4

"Monetarism and Monetary Policy," by Robert L. Hetzel of the Mercatus Center.
#FederalReserve #Inflation #MonetaryPolicy

Monetarism and Monetary Policy

Starting in the 1960s, Milton Friedman defined the monetarist-Keynesian debate. His greatest victory occurred by the end of the 1970s when he argued that the Federal Reserve System, not corporations ...

Southern Economic Journal @southerneconj.bsky.social · Sep 2

Louis Rouanet of University of Texas, El Paso and Alexander William Salter of @ttu.edu examine mission creep at the Federal Reserve.
#FederalReserve #BankingPolicy #MonetaryPolicy

Mission creep at the Federal Reserve

Since the 2008 financial crisis, the Federal Reserve has expanded its objectives beyond the traditional scope of monetary policy. It directly allocates credit, incorporates inequality considerations ...

Southern Economic Journal @southerneconj.bsky.social · Aug 28

"How the Federal Reserve got so huge, and why and how it can shrink," by Bill Nelson of Bank Policy Institute.
#FederalReserve #BankLiquidity #MonetaryPolicy

How the Federal Reserve got so huge, and why and how it can shrink

Following the collapse of Lehman Brothers in September 2008, the Federal Reserve underwent a significant shift in how it implemented monetary policy, transitioning to an excessive-reserves framework ...

Southern Economic Journal @southerneconj.bsky.social · Aug 26

Thomas L. Hogan of University of Austin considers the effectiveness of the Federal Reserve's forward guidance in the 2020–2022 recovery from the Coronavirus pandemic.
#FederalReserve #ForwardGuidance #COVID19

The failure of forward guidance: Lessons from the pandemic recovery

This paper considers the effectiveness of the Federal Reserve's forward guidance in the 2020–2022 recovery from the Coronavirus pandemic. Forward guidance has become a common feature in macroeconomic....

Southern Economic Journal @southerneconj.bsky.social · Aug 21

"The devolution of federal reserve monetary policy strategy, 2012–24," by Peter N. Ireland of @bostoncollege.bsky.social.
#FederalReserve #DualMandate #PhillipsCurve
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The devolution of federal reserve monetary policy strategy, 2012–24

The Federal Open Market Committee's 2012 Statement on Longer-Run Goals and Monetary Policy Strategy interprets the Federal Reserve's dual mandate in light of the natural rate hypothesis and the New K....

Southern Economic Journal @southerneconj.bsky.social · Aug 19

Carola Binder of University of Texas at Austin discusses the interactions between politics and economic ideas leading to the adoption of inflation targeting in the United States.
#Inflation #MonetaryPolicy #FederalReserve

The rise of inflation targeting

This paper discusses the interactions between politics and economic ideas leading to the adoption of inflation targeting in the United States. In the gold standard era, farmers' vulnerability to fall...

Southern Economic Journal @southerneconj.bsky.social · Aug 14

The symposium introduction by Bryan P. Cutsinger and William J. Luther of Florida Atlantic University reviews the Federal Reserve's monetary policy framework introduced in August 2020.
#Greedflation #Inflation #MonetaryPolicy

Symposium introduction: Reviewing the Federal Reserve's framework

The Federal Reserve introduced a new monetary policy framework in August 2020. Shortly after, inflation picked up, reaching a 40-year high of 7.0% in June 2022. We explain why prices have risen so hi...

Southern Economic Journal @southerneconj.bsky.social · Aug 12

The Presidential Address by Gary A. Hoover of @tulaneu.bsky.social examines where poverty in the United States stands today and how we got here.
#Poverty #AmericanFamilies

When user error calls for a product redesign: Poverty in the United States

Click on the article title to read more.

Southern Economic Journal @southerneconj.bsky.social · Aug 7

Camilo Abbate of @ucsantabarbara.bsky.social, Jeffrey Cross of Hamilton College, and Richard Uhrig of the Bureau of Labor Statistics estimate the effect of objective review systems on home field advantage in soccer.
#VideoAssistantReferee #ReviewSystems #Bias

Southern Economic Journal @southerneconj.bsky.social · Aug 5

"The paradox of transfers: Distribution and the Dutch disease," by Nazanin Behzadan of University of Prince Edward Island and Richard Chisik of @torontomet.bsky.social.
#InternationalTrade #ForeignAid #Remittances
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The paradox of transfers: Distribution and the Dutch disease

We develop a new model of international trade with nonhomothetic preferences whereby within-country income distribution affects the pattern of trade and economic growth. Alternative forms of foreign ...

Southern Economic Journal @southerneconj.bsky.social · Jul 31

Garth Heutel of @gsueconomics.bsky.social documents evidence for Giffen behavior in the demand for theme park rides.
#ConsumerTheory #Demand #Recreation

Theme park rides are Giffen goods

Using a unique proprietary data set on the behavior of guests visiting theme parks, I document evidence for Giffen behavior in the demand for theme park rides. On average, when the price of a ride in...

Southern Economic Journal @southerneconj.bsky.social · Jul 29

"Income inequality, banking competition, and monetary policy," by Edgar A. Ghossoub of @utsaroadrunners.bsky.social and Robert R. Reed of @uofalabama.bsky.social.
#Inflation #Banking #Income

Income inequality, banking competition, and monetary policy

Previous research has shown that inflation contributes to income inequality. However, in recent years, there have also been increasing concerns about the effects of concentration in the banking syste....

Southern Economic Journal @southerneconj.bsky.social · Jul 24

Seung-Hun Chung of @cornelluniversity.bsky.social and Ahmad Shah Mobariz of St. Olaf College investigate the influence of South Korea's exceptionally low fertility rate on neighboring China, particularly the Korean Chinese community.
#Fertility #CulturalSimilarities #OpenBorders

Harmony in diplomacy, convergence in choices: Low fertility diffusion through Sino‐Korean normalization

Does fertility preference spill over to other countries? This paper investigates the influence of South Korea's exceptionally low fertility rate on neighboring China, particularly the Korean Chinese ...

Southern Economic Journal @southerneconj.bsky.social · Jul 22

"The color of coronavirus," by Cong S. Pham of @deakinuniversity.bsky.social and @devashishmitra.bsky.social of @maxwellsu.bsky.social.
#COVID19 #PublicHealth #IncomeInequality #HealthInsurance
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The color of coronavirus

This study examines racial disparities in the impact of the COVID-19 pandemic in the United States, focusing on factors influencing infection and mortality rates at the county level. We find compelli...

Southern Economic Journal @southerneconj.bsky.social · Jul 17

Patrick Horan of the Fiscal Lab on Capitol Hill examines Milton Friedman's work and his views on nominal income targeting.
#MiltonFriedman #MonetaryPolicy #NominalIncome #InflationTargeting

Milton Friedman and nominal income targeting

For much of his career, Milton Friedman advocated a constant monetary growth rule to limit central bank discretion and to achieve long-term price stability. By contrast, Friedman wrote little on nomi....

Southern Economic Journal @southerneconj.bsky.social · Jul 15

"What philosophy can teach political economy about corruption: A non-ideal theory," by @mjuarezgarcia.bsky.social of @tulaneu.bsky.social.
#Corruption #Philosophy #PoliticalEconomy
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What philosophy can teach political economy about corruption: A non‐ideal theory

Scholars who study political corruption typically assume that it is a pathology. This assumption gives rise to certain problems. On the one hand, scholars who conceive corruption as a principal-agent...