Greg Mankiw's Blog

My Broadway Debut

noreply@blogger.com (Greg Mankiw) — Wed, 15 Apr 2026 14:47:00 +0000

Last week, I saw the play Every Billiant Thing, which was absolutely fantastic. As this NY Times article describes, audience participation is central. In our performance, I was picked to play the father. Here I am with the star, Daniel Radcliffe, backstage after the play, along with my wife and younger son.

Thank you, AEA

noreply@blogger.com (Greg Mankiw) — Tue, 07 Apr 2026 13:19:00 +0000

I am deeply honored to be named a Distinguished Fellow by the American Economic Association--especially at the same time that my wonderful colleague Ludwig Straub is awarded the Clark Medal.

I talk with Larry Kotlikoff

noreply@blogger.com (Greg Mankiw) — Wed, 11 Mar 2026 19:06:00 +0000

Click here to get to his podcast.

Upcoming Webinar

noreply@blogger.com (Greg Mankiw) — Thu, 05 Mar 2026 19:22:00 +0000

On March 19, I will be giving a webinar, sponsored by my publisher Cengage, on the fiscal future. If you are interested, click here.

Economic Theory Summer Camp

noreply@blogger.com (Greg Mankiw) — Mon, 23 Feb 2026 19:11:00 +0000

Organized by my colleague Eric Maskin. Click here for information.

Congrats to President Trump and Kevin Warsh

noreply@blogger.com (Greg Mankiw) — Fri, 30 Jan 2026 16:14:00 +0000

As readers of this blog know, I am not a fan of most of President Trump's economic policy, especially regarding international trade. But today the president made an excellent choice for the new chair of the Federal Reserve. I have known Kevin Warsh for more than two decades, and I expect him to be a superb leader of the central bank.

History of Econ Summer Camp

noreply@blogger.com (Greg Mankiw) — Thu, 22 Jan 2026 21:08:00 +0000

Graduate students with an interest in the history of economic thought should consider this summer program.

Statement on the Federal Reserve

noreply@blogger.com (Greg Mankiw) — Mon, 12 Jan 2026 15:17:00 +0000

Here is the link. I paste a copy below.

The Federal Reserve’s independence and the public’s perception of that independence are critical for economic performance, including achieving the goals Congress has set for the Federal Reserve of stable prices, maximum employment, and moderate long-term interest rates. The reported criminal inquiry into Federal Reserve Chair Jay Powell is an unprecedented attempt to use prosecutorial attacks to undermine that independence. This is how monetary policy is made in emerging markets with weak institutions, with highly negative consequences for inflation and the functioning of their economies more broadly. It has no place in the United States whose greatest strength is the rule of law, which is at the foundation of our economic success.

SIGNATORIES

Ben S. Bernanke served two terms as Chair of the Board of Governors of the Fed, as well as Chair of the Council of Economic Advisers under President George W. Bush.

Jared Bernstein served as Chair of the Council of Economic Advisers under President Joe Biden.

Jason Furman served as Chair of the Council of Economic Advisers under President Barack Obama.

Timothy F. Geithner served as the 75th Secretary of the Treasury under President Barack Obama, as well as President and Chief Executive Officer of the Federal Reserve Bank of New York.

Phil Gramm served as Chairman of the Senate Banking Committee.

Alan Greenspan served five terms as Chair of the Board of Governors of the Fed, first appointed by President Ronald Reagan and then reappointed by Presidents George H.W. Bush, Bill Clinton, and George W. Bush. He also was Chair of the Council of Economic Advisers under President Gerald Ford.

Glenn Hubbard served as Chair of the Council of Economic Advisers under President George W. Bush.

Jacob J. Lew served as the 76th Secretary of the Treasury under President Barack Obama.

N. Gregory Mankiw served as Chair of the Council of Economic Advisers under President George W. Bush.

Henry M. Paulson served as the 74th Secretary of the Treasury under President George W. Bush.

Kenneth Rogoff is the Maurits C. Boas Professor of International Economics at Harvard University and former chief economist of the International Monetary Fund.

Christina Romer served as Chair of the Council of Economic Advisers under President Barack Obama.

Robert E. Rubin served as the 70th Secretary of the Treasury under President Bill Clinton, after serving as the first director of the White House National Economic Council.

Janet Yellen served as the 78th Secretary of the Treasury under President Joe Biden, Chair and Vice Chair of the Board of Governors of the Fed, Chair of the Council of Economic Advisers under President Bill Clinton, and President and CEO of the Federal Reserve Bank of San Francisco.

Principles of Economics, 11e

noreply@blogger.com (Greg Mankiw) — Thu, 11 Dec 2025 22:22:00 +0000

The new edition of my favorite textbook will be available on January 9, ready for spring semester classes.

News from Yoram

noreply@blogger.com (Greg Mankiw) — Tue, 09 Dec 2025 15:18:00 +0000

My friend Yoram Bauman (known for, among other things, his Ten Principles parody) has some news:

I only lost half my shirt on the stage-play version of Seize The Initiative! (a romantic comedy about democracy, climate action, and sandwiches) so now I’m looking to bet the other half on a movie adaptation. (Alternative title: Carbon Taxes: The Movie!)....Consider attending a table reading on T Dec 16 in person or on Zoom from 6-8pm MT (5-7pm PT, 8-10pm ET). Everyone is welcome to join (see the flyer here), please just sign up on this Google form. You can also read the latest version of the script at the world’s best URL: Yoram-Com.com. Please share this invite with others, especially if you know Woody Harrelson and want to help get him an Oscar for Best Supporting Actor!

I talk with Michael Klein

noreply@blogger.com (Greg Mankiw) — Sun, 16 Nov 2025 16:28:00 +0000

On the EconoFact podcast.

The economy 50 years from now

noreply@blogger.com (Greg Mankiw) — Sun, 21 Sep 2025 16:59:00 +0000

Seven experts opine.

Flier on RFK Jr

noreply@blogger.com (Greg Mankiw) — Fri, 19 Sep 2025 05:00:00 +0000

Jeffrey Flier, the former dean of Harvard Medical School, says the HHS Secretary must go. I know Jeff, and I can attest that he is no conventional Ivy League liberal. But he believes in science.

Dear Committee Members

noreply@blogger.com (Greg Mankiw) — Fri, 29 Aug 2025 19:37:00 +0000

Like many who spend their lives in the ivory tower, I enjoy academic satires. That includes Richard Russo's novel Straight Man, the movie Wonder Boys, the TV show The Chair, and many books by David Lodge.

The most recent is Julie Schumacher's Dear Committee Members, written as a series of recommendation letters from an increasingly cantankerous creative writing professor. Highly recommended for those who like this genre. For me, it was a great way to end the summer, as I prepare for my first class on Tuesday.

Josh Barro, Betsey Stevenson, and Yours Truly

noreply@blogger.com (Greg Mankiw) — Thu, 21 Aug 2025 11:56:00 +0000

A conversation in The New York Times.

Our Dollar, Your Problem

noreply@blogger.com (Greg Mankiw) — Tue, 12 Aug 2025 17:25:00 +0000

I just finished Our Dollar, Your Problem by my Harvard colleague Ken Rogoff. It is a great read for econonerds like me, especially for those who lean toward macro rather than micro. Ken wonderfully blends personal anecdotes with wise observations about the evolution of global finance.

Economics Teaching Conference

noreply@blogger.com (Greg Mankiw) — Wed, 06 Aug 2025 18:00:00 +0000

I will be speaking at a teaching conference to be held in New Orleans on November 5-7, 2025. If you might be interested in attending, click here.

Keep Politics Out of Data

noreply@blogger.com (Greg Mankiw) — Tue, 05 Aug 2025 11:10:00 +0000

Cecilia Rouse and I opine in the Washington Post.

Paul Krugman and I

noreply@blogger.com (Greg Mankiw) — Mon, 04 Aug 2025 18:38:00 +0000

...talk with Bianna Golodryga on CNN.

Wimbledon Wisdom

noreply@blogger.com (Greg Mankiw) — Sun, 13 Jul 2025 14:33:00 +0000

I recently ran across a graduation speech by the tennis great Roger Federer. I especially appreciated this passage:

In the 1,526 singles matches I played in my career, I won almost 80% of those matches... Now, I have a question for all of you... what percentage of the POINTS do you think I won in those matches?

Only 54%.

In other words, even top-ranked tennis players win barely more than half of the points they play.

When you lose every second point, on average, you learn not to dwell on every shot.

You teach yourself to think: OK, I double-faulted. It’s only a point.

OK, I came to the net and I got passed again. It’s only a point.

Even a great shot, an overhead backhand smash that ends up on ESPN’s Top Ten Plays: that, too, is just a point.

Here’s why I am telling you this.

When you’re playing a point, it is the most important thing in the world.

But when it’s behind you, it’s behind you... This mindset is really crucial, because it frees you to fully commit to the next point… and the next one after that… with intensity, clarity and focus.

The truth is, whatever game you play in life... sometimes you’re going to lose. A point, a match, a season, a job... it’s a roller coaster, with many ups and downs.

And it’s natural, when you’re down, to doubt yourself. To feel sorry for yourself.

And by the way, your opponents have self-doubt, too. Don’t ever forget that.

But negative energy is wasted energy.

You want to become a master at overcoming hard moments. That to me is the sign of a champion.

The best in the world are not the best because they win every point... It’s because they know they’ll lose... again and again… and have learned how to deal with it.

The Fiscal Future

noreply@blogger.com (Greg Mankiw) — Thu, 10 Jul 2025 11:26:00 +0000

At 4:45 pm today, I will be giving the 2025 Martin Feldstein Lecture at the NBER Summer Institute on "The Fiscal Future." I believe you can watch the lecture live at NBER YouTube channel. In any event, I will post the video when it is available.

Or you can read the lecture by clicking here.

Update: The video is here.

Update 2: George Will offers a nice summary.

Update 3: As published in the NBER Reporter.

Amicus Brief in V.O.S. Selections, Inc. v. Trump

noreply@blogger.com (Greg Mankiw) — Wed, 09 Jul 2025 20:22:00 +0000

I was happy to join this group of sensible economists.

Today I Learned

noreply@blogger.com (Greg Mankiw) — Tue, 01 Jul 2025 09:35:00 +0000

"Beginning in the last decade of the 18th century, firewood output increased from about 18% of GDP to just under 30% of GDP in the 1830s."

Source.

My talk at the recent Princeton reunions (Alan Blinder moderates)

noreply@blogger.com (Greg Mankiw) — Sun, 29 Jun 2025 09:26:00 +0000

Stanley Fischer

noreply@blogger.com (Greg Mankiw) — Sun, 01 Jun 2025 15:41:00 +0000

The world lost a great man today. Here is Stan's obituary in the New York Times.