Daniel Sichel
WELLESLEY COLLEGE. Professor of Economics. Research interests include macroeconomics, economic growth, technology, and economic measurement.

Why Is Inflation so Low?

October 8, 2019

The Issue:

Inflation has averaged just over 1-1/2 percent over the past decade, well below the Federal Reserve’s target of 2 percent. Such low inflation for such an extended stretch is quite unusual given historical economic relationships. With the current unemployment rate near historic lows, the persistent soft

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Measuring How Well the Economy is Doing (VIDEO)

September 30, 2019
This conversation was recorded on August 1, 2019.

What tools do economists have to measure how well an economy is doing? Michael Klein, Executive Editor of EconoFact and Dan Sichel (Wellesley) highlight the advantages, as well as the drawbacks of focusing on gross domestic product (GDP) - a measure of the value

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No Free Lunches: The Hard Arithmetic of Economics

September 28, 2018

The Issue:

Key policy initiatives often are presented to the public as providing benefits with no real costs. While sugarcoating may be a useful political strategy, such narratives mask the difficult tradeoffs implicit in many economic policy decisions and the invariable presence of budget constraints. Such promises ...
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