Supplying Demand: The Chip Shortage in Macro Context

Summary

The Chip Shortage in Macro Context

Fiscal Policy and Capital Expenditure

Figure 1 — Source: Bureau of Economic Analysis (BEA)
Figure 2 — Source: BEA
Figure 3 — Source: BEA
Figure 4 — Source: BEA
Figure 5— Source: BEA
Figure 6: Source: Federal Reserve Board of Governors, Authors’ Calculations
Figure 7: See footnote regarding the role of hedonic adjustment in accounting for “real” economic gains in semiconductor manufacturing¹. Nominal capacity expansion would still be outsized over the same period (see Figure 2), but of much lower magnitudes. Source: Federal Reserve Board of Governors, Authors’ Calculations

Capacity, Supply and the Labor Market

Figure 8— Source: Bureau of Labor Statistics (BLS)
Figure 9— Source: BLS, Authors’ Calculations

Bringing It All Together: The Role of Policy

--

--

--

We write, crunch #’s, and tweet about the labor market and economic policy.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Whose interest should be the paramount concern in government trade policy: the interests of…

What is Neuroeconomics?

The $5 Coffee Crisis

Introducing GDWe: an alternative measure of social progress

Anti-Immigration is Simply Bad Economics

Crisis is a trader’s friend and ally.

Fiscal Stimulus and Inflation

Qobit Daily News Roundup Oct. 12, 2018

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Employ America

Employ America

We write, crunch #’s, and tweet about the labor market and economic policy.

More from Medium

Joe Rogan and the Role of Media Figures in the Spread of Misinformation

The Startup’s “Hidden Spotlight” That We Never Hear About — The Founder’s Silent Background Support

If the ides of March have a reinventive plan to resume capable, palpable happiness, mission…

47 days till the test….