Nouriel Roubini sits down with Patrick Chovanec, associate professor at Tsinghua University’s School of Economics and Management in Beijing, China for a discussion on the likelihood of a hard landing in China and consider the short and medium term implications of policy adjustments, leadership transitions, and technology advancements. [22:20] [2:25] – How much of a [...]
The January retail price of gasoline broke records, averaging US $3.37 a gallon, according to the Oil Price Information Service. This price compares with the previous record average for the month of US $3.095 a gallon, set last year and a much lower US $2.71 in January of 2010. January is typically a month of [...]
The Greek minimum wage is apparently a point of contention between the Troika (ECB/EU/IMF) and the Greek government. The NY Times cites competitiveness gains as a rationale for the minimum wage cut: The goal of any pay cuts would be to help make Greek workers, who are generally less productive than workers elsewhere in Europe, [...]
Latest Developments
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 [...]
It looks to me like the fiscal austerity driven recession is indeed resulting in a reduction in Greece’s relative labor costs irrespective of minimum wage policy. Isn’t that the point?
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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