{"title":"The shortest history of economics By Andrew Leigh. Old Street Publishing. 2024. pp. 228. £14.99 (hbk). ISBN: 978-1913083496. £4.99 (ebk). ISBN: 978-1913083502","authors":"Charles Amos","doi":"10.1111/ecaf.12660","DOIUrl":"https://doi.org/10.1111/ecaf.12660","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"638-639"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435046","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How do licensing boards provide oversight? An Idaho case study","authors":"Conor Norris, Alex Adams, Edward Timmons","doi":"10.1111/ecaf.12662","DOIUrl":"https://doi.org/10.1111/ecaf.12662","url":null,"abstract":"<p>Occupational licensing laws are designed to improve service quality and protect consumers from harm by establishing entry requirements and oversight of practising professionals. Evidence on the effects of licensing is mixed. The quality of services is difficult to measure objectively, complicating attempts to compare costs and benefits of regulation. A 2017 executive order in the US state of Idaho required licensing boards to report disciplinary actions against professionals. This new source of data provides some insight into the type of enforcement undertaken by licensing boards. We find that disciplinary actions directly related to quality are rare. Between 0.01 and 0.38 per cent of licensees are disciplined for quality-related issues; 36 to 53 per cent of total disciplinary actions are directly related to quality, with the rest covering technical breaches.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"527-539"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A crash course on crises: Macroeconomic concepts for run-ups, collapses, and recoveries By Marcus K Brunnermeier and Ricardo Reis. Princeton University Press. 2023. pp. 136. £30.00 (hbk). ISBN: 978-0691221106. £21.00 (ebk). ISBN: 978-0691221113","authors":"Geoffrey Wood","doi":"10.1111/ecaf.12666","DOIUrl":"https://doi.org/10.1111/ecaf.12666","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"629-631"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The value of space activity","authors":"Rebecca Lowe","doi":"10.1111/ecaf.12676","DOIUrl":"https://doi.org/10.1111/ecaf.12676","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"561-571"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Using the balance sheet framework for monetary analysis: The case of China","authors":"Wenzhe Li","doi":"10.1111/ecaf.12669","DOIUrl":"https://doi.org/10.1111/ecaf.12669","url":null,"abstract":"<p>Monetary analysis has been out of fashion lately. However recent economic and inflation dynamics call for renewed attention. Since 2021, broad money growth has been associated with high inflation and overheated production. Central banks and academia should pay more attention to monetary analysis to understand the economic dynamics and formulate better monetary policy. This article briefly reviews the monetary analysis practices of major central banks and then focuses on China as a case study. We set out the features of the balance sheet of depository corporations, and use it as a basic framework for monetary analysis. There are seven money-supply channels of broad money, which fluctuate because of seasonality, demand conditions, regulation, and financial institutions micro-managing indicators. Any change of broad money will be reflected through the balance sheet. Applications include analysing long-term evolution of money supply channels, analysing and predicting monetary growth, recording major financial incidents, and so forth.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"501-526"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The road to freedom: Economics and the good society By Joseph E Stiglitz. Allen Lane. 2024. pp. 356. £25.00 (hbk). ISBN: 978–0241687888. £13.99 (ebk). ISBN: 978-1802065367","authors":"Cento Veljanovski","doi":"10.1111/ecaf.12661","DOIUrl":"https://doi.org/10.1111/ecaf.12661","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"640-642"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435047","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Minimum wages and foster care placement disruption","authors":"Florence Neymotin, William Hawks","doi":"10.1111/ecaf.12671","DOIUrl":"https://doi.org/10.1111/ecaf.12671","url":null,"abstract":"<p>We examine the potential secondary impacts of raising the minimum wage in a jurisdiction on the efficiency of its foster care placement system. We employ the Adoption and Foster Care Analysis and Reporting System (AFCARS) restricted-access dataset representing all children in the US foster care system for the years 2000–21. We calculate placement efficiency as the number of yearly moves experienced by a child in the foster care system, with a decrease in the number of placements interpreted as benefitting children both psychologically and behaviourally. This increase in stability benefits the foster parents and corresponds to a smaller financial strain on the public. After including various controls and state-year fixed effects, our Tobit and Ordinary Least Squares (OLS) analyses find that increased minimum wages are significantly associated with lower levels of placement disruption. We take this as promising initial descriptive evidence for the secondary effects of the minimum wage on reducing the financial burden, and increasing the placement efficiency, of the foster care system.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"540-560"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435570","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The reckoning: From the second slavery to abolition, 1776–1888 By Robin Blackburn. Verso. 2024. pp. 544. £35.00 (hbk). ISBN: 978-1804293416. £15.00 (ebk). ISBN: 978-1804293430","authors":"Stephen Wilkinson","doi":"10.1111/ecaf.12667","DOIUrl":"https://doi.org/10.1111/ecaf.12667","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"632-634"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}