Economics

For first time homebuyers it was one of the hardest years ever to afford a house. But homeowners saw tremendous gains in housing wealth.

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Past research has found that experienced well-being does not increase above incomes of $75,000/y. This finding has been the focus of substantial attention from researchers and the general public, yet is based on a dataset with a measure of experienced well-being that may or may not be indicative of actual emotional experience (retrospective, dichotomous reports). Here, over one million real-time reports of experienced well-being from a large US sample show evidence that experienced well-being rises linearly with log income, with an equally steep slope above $80,000 as below it. This suggests that higher incomes may still have potential to improve people’s day-to-day well-being, rather than having already reached a plateau for many people in wealthy countries. Data aggregated by income level have been deposited in OSF (https://osf.io/nguwz/) ([23][1]). Granular data are stored in a repository and are available to qualified researchers who wish to verify or extend the claims of this paper; contact the author for access information. March 25, 2021: The Data Availability section has been updated. [1]: #ref-23

High inflation and near-full employment will push the Fed to raise rates more quickly than expected, according to Goldman Sachs.

Bare shelves at supermarkets are attributed to omicron, a labor shortage, climate change and other reasons. "We're really seeing the perfect storm," one industry expert told NPR.

Higher inflation is on people’s minds, so we tackle a handful of questions posed online and during a recent inflation event.

Inflation Charting: Center for Inflation Research

Procter & Gamble is raising prices across more of its portfolio to protect its profit margins as commodity and freight costs climb higher.

Some of that merchandise you ordered, returned or are waiting on has stopped literally in its tracks as thieves have been breaking open rail cars and stealing the merchandise inside.

Child-development researchers are asking whether the pandemic is shaping brains and behaviour.

Young developers on the platform used by many millions of children claim they have been financially exploited, threatened with dismissal and sexually harassed

Requiring truckers to show proof of vaccination when crossing the Canada-U.S. border is hiking the cost of everything from broccoli to tomatoes.

PPP was roughly equivalent in size to the entire recovery package from the 2007–2009 financial crisis.

Look no further than Novak Djokovic, whose career is on the verge of being derailed because he is unvaxed.

Martin Shkreli was condemned for raising Daraprim's price in 2015 by people like Donald Trump and Hillary Clinton.

Netflix Inc has raised its monthly subscription price by $1 to $2 per month in the United States depending on the plan, the company said on Friday, to help pay for new programming to compete in the crowded streaming TV market.

(Cross-posted from my blog) The other day I made an advice thread based on Jacobian’s from last year! If you know a source for one of these, shout and I’ll edit it in. Possessions 1. If you want to find out about people’s opinions on a product, google product reddit. You’ll get real people arguing, as compared to the SEO’d Google results. 2. Some banks charge you $20 a month for an account, others charge you 0. If you’re with one of the former, have a good explanation for what those $20 are buying. 3. Things you use for a significant fraction of your life (bed: 1/3rd, office-chair: 1/4th) are worth investing in. 4. “Where is the good knife?” If you’re looking for your good X, you have bad Xs. Throw those out. 5. If your work is done on a computer, get a second monitor. Less time navigating between windows means more time for thinking. 6. Establish clear rules about when to throw out old junk. Once clear rules are established, junk will probably cease to be a problem. This is because any rule would be superior to our implicit rules (“keep this broken stereo for five years in case I learn how to fix it”). 7. Don’t buy CDs for people. They have Spotify. Buy them merch from a band they like instead. It’s more personal and the band gets more money. 8. When buying things, time and money trade-off against each other. If you’re low on money, take more time to find deals. If you’re low on time, stop looking for great deals and just buy things quickly online. Cooking 9. Steeping minutes: Green at 3, black at 4, herbal at 5. Good tea is that simple! 10. Food actually can be both cheap, healthy, tasty, and relatively quick to prepare. All it requires is a few hours one day to prepare many meals for the week. 11. Cooking pollutes the air. Opening windows for a few minutes after cooking can dramatically improve air quality. 12. Food taste can be made much more exciting through simple seasoning. It’s also an opportunity for expression. Buy a few herbs and spi

Gruyere cheese does not have to come from the Gruyere region of Europe to be sold under the gruyere name, a federal judge has ruled.

Consumer prices jumped 7% in December compared with 12 months earlier — the hottest year-over-year inflation since June 1982. What is causing prices to increase and when can Americans expect a reprieve?

No wonder Albert Einstein labeled compound interest the “eighth wonder of the world.”

COVID-19 at-home tests are hard to find and now Abbott's BinaxNOW kits cost more at Walmart and Kroger.

How TuitionFit Works TuitionFit is, at the core, a free exchange. Share your financial aid offer, compare it to other students’ offers for free. Simple as that. Just starting your college search? Use TuitionFit to build a college list in your price range, or purchase access to see the detailed pricing information contained in those...

Supply chain disruptions have become a major challenge for the global economy since the start of the COVID-19 pandemic. Factory shutdowns (particularly in Asia) and widespread lockdowns and mobility restrictions have resulted in disruptions across logistics networks, increases in shipping costs, and longer delivery times. Several measures have been used to gauge these disruptions, although those measures tend to focus on selected dimensions of global supply chains. In this post, we propose a new gauge, the Global Supply Chain Pressure Index (GSCPI), which integrates a number of commonly used metrics with an aim to provide a more comprehensive summary of potential disruptions affecting global supply chains.

The U.S. inflation rate has seen its fastest annual increase in over 30 years. Which consumer spending categories have been hit the hardest?