While we may be hours away from a partial (and certainly a stopgap) agreement in the talks among the Greek government, the troika and private sector creditors, it is doubtful that a deal will emerge in a fully constructed fashion that will survive its application in the real economy. It is likely that the only common view amongst [...]
In the fall of 2008, US authorities conducted a financial market experiment. They allowed a large and heavily interconnected firm, Lehman Brothers, to file for bankruptcy, apparently under the belief that the consequences should be limited as everyone knew this was coming. I think that, in retrospect, US policymakers wished they had pursued an alternative [...]
The year got off on a much better foot than might have been expected, at least as far as global manufacturing is concerned. As the JP Morgan report puts it: “The global manufacturing sector continued to record below trend growth at the start of 2012. At 51.2 in January, the JPMorgan Global Manufacturing PMI™ rose [...]
Thoughts:
From Foreign Policy: As the global elite gather for the World Economic Forum this week the topic of discussion is less about creating wealth for the less fortunate or helping the developing world — it’s about saving the core. Perhaps not surprisingly, economist Nouriel Roubini says don’t hold your breath, calling 2012 a year of [...]
It’s pretty easy to see through relative labor performance which economy is pursuing procyclical fiscal policy, namely deficits rise when the economy is booming and fall when the economy is contracting: the EA.
Edward Hugh
Don't Shoot the Messenger
Congratulations to Edward Hugh whose EconoMonitor blog was #14 on CBNC's NetNet list of best alternative financial and economic blogs. Edward is a macro economist, who specializes in growth and productivity theory, demographic processes and their impact on macro performance, and the underlying dynamics of migration flows. Edward is based in Barcelona, and is currently engaged in research on aging, longevity, fertility and migration, and the impact of all of these on economic growth.
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