RT @mattyglesias: Why doesn’t #Islamic law prevent the #Qatar Investment Authority from buying all these shares in banks?
24 minutes ago
Global Macro Channel: Latest Posts
-
Global Macro
Are the Green Shoots For Real?
Joe Weisenthal has a number of posts arguing that data are showing the green shoots of a robust recovery. I hope he is right, but am leery of jumping the gun in believing a real recovery is underway. There is still a shortage of safe assets and liquidity demand remains elevated. What would really convince me that a strong recovery were underway would [...]
-
Global Macro
Great Graphic: Fiscal Thrust High Income Economies
This Great Graphic comes from the Financial Times Gavyn Davies. One key observation is that the austerity shift next year to the US from the euro area, though the UK has more wood to chop too. The magnitude of the US contractionary fiscal thrust in part depends the degree to which the automatic tax hikes and spending cuts [...]
-
Global Macro
A Nobel Prize for Work that Matters in Our Everyday Lives
A few comments on yesterday’s Nobel Prize in Economics (no link — still stuck in editing at MoneyWatch link now active): A Nobel Prize for Work that Matters in Our Everyday Lives: (MarketWatch) The Nobel Prize in Economics was awarded to Alvin Roth and Lloyd Shapley for their work on matching markets and mechanism design. What exactly do [...]
-
Global Macro
Reinhart and Rogoff Explain Everything …
Real Per Capita GDP (levels): 2007-2011 Systemic & Borderline Crises in Advanced Economies Sources: Laeven and Valencia (June 2012), Reinhart and Rogoff (2009), GDP per capita from Total Economy Database, Conference Board. I have long been a fan of Reinhart & Rogoff‘s work on credit crises, going back to their December 2007 paper on major [...]
-
Global Macro
Why Taxes Should Pay for Health Care
William Baumol and some co-authors recently published a new book on what is widely known as “Baumol’s cost disease.” This is something that Simon wanted to include in White House Burning, but I couldn’t find a good way to fit it in (and it would have gone in one of the chapter’s I was writing), so I it [...]
-
Global Macro
Will Q3 Earnings Disappoint?
Earnings season follows a familiar, four-step pattern. Preliminary — Analyst estimates are too optimistic, perhaps because they “go native.“ Confession – Adjustment and warnings as companies “pre-announce,” usually when the report will be a disappointment. Announcement — Actual results with explanations and outlook for the future. There is an initial market reaction to the news. [...]
-
Global Macro
Ed Dolan Talks to Fabius Maximus About MMT…Can It Save Us?
Summary: Next in a series about economics and the global government debt crisis, Ed Dolan talks to us about modern monetary theory. How does it differ from mainstream economics? And he has a few words to say about the Austrian school. This was lifted from the comments of yesterday’s post. Other posts in this series: [...]
-
Global Macro
Great Graphic: World GDP Per Capita
This Great Graphic comes from The Economist. It depicts world GDP per capita and shows the contribution from advanced and developing countries. It notes that per capita GDP growth rates have returned to pre-crisis levels, though the composition has changed. Developing countries are contributing the lion’s share of the world growth. The financial crisis has been centered in [...]
-
Global Macro
Jobs as a Gateway to Prosperity
The global spotlight is on jobs. Headlines last Friday highlighted the US jobless rate, which fell to 7.8 percent, the lowest level in four years. There was a sense of hope as the decline came primarily from an unexpected rise in the creation of new jobs, rather than people leaving the labor force. Jobs are [...]
-
Global Macro
Great Graphic: International Joblessness
Here is a Great Graphic I found over at Sober Look. It is from the IMF and shows unemployment rates in different economic regions. What Sober Look draws our attention to is the fact that the IMF projects euro area unemployment to be above the Middle East and Northern Africa. It will have the distinction of being the [...]
