By Arnold Kling
Professor Donald Lacombe of Ohio University is offering a course in Econoblogging! Will this test Tyler’s assertion that the best way to learn economics nowadays is through blogs?
In addition to blogs, a venerable source of economic wisdom is the Congressional Budget Office. CBO director Peter Orszag combines the two. In a recent post, he summarizes research on income volatility.
CBO has now examined the volatility of household income (rather than workers’ earnings volatility, the subject of our study in 2007). The preliminary results suggest that household income is much less volatile than individual worker’s earnings, and that household income volatility has not increased over time — and perhaps even declined slightly.