2003q3 GDP

Gross Domestic Product News Release
Third quarter 2003 gross domestic product (GDP) came in at a annual rate of 7.2% on the strength of consumer spending (see below).


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Filed under: Economics, Economy

Interest Rates Unchanged

It looks like the Fed is still being cautious about the possibility of a strong expansion…

FRB: Press Release — FOMC statement — October 28, 2003
The Committee perceives that the upside and downside risks to the attainment of sustainable growth for the next few quarters are roughly equal. In contrast, the probability, though minor, of an unwelcome fall in inflation exceeds that of a rise in inflation from its already low level. The Committee judges that, on balance, the risk of inflation becoming undesirably low remains the predominant concern for the foreseeable future. In these circumstances, the Committee believes that policy accommodation can be maintained for a considerable period.

Filed under: Economics, Monetary Policy

Nobel Prize Announced

Nobel e-Museum
“for methods of analyzing economic time series with time-varying volatility (ARCH)”
Robert F. Engle
USA
“for methods of analyzing economic time series with common trends (cointegration)”
Clive W. J. Granger
United Kingdom

Filed under: Economists

Back from Honeymoon

I’m trying to readjust to city life after 2 weeks in Ireland (with most of the time spent on Cape Clear Island at the very southern tip of county Cork).

Filed under: Background

Nobel Prize Tomorrow

Nobel e-Museum
Check the link above tomorrow for the Nobel Prize announcement. My guess… hmmm…
Two ideas come to mind…
P. Diamond
Or
Some international economist combination Dixit, Krugman, G. Grossman(?), J. Bhagwati.

Filed under: Economists