Politics Roundtable

Technical Problems 3/9/15

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Politics Roundtable

Political blogs of interest to economists.

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A Fistful of Euros


March 31, 2015, 8:18 pm, 1448702

JW Mason has an interesting discovery among the data. Specifically, it looks like the US data series for wages, normalised for shifts in the composition of jobs, is much less cyclical than the raw data. In other words, the business cycle seems to affect wages through composition shifts. In ...


March 27, 2015, 2:18 pm, 1446574

“After the Great Depression, secular stagnation turned out to be a figment of economists’ imaginations……it is still too soon to tell if this will also be the case after the Great Recession. However, the risks of secular stagnation are much greater in depressed Eurozone economies than in the US, ...


March 17, 2015, 4:18 pm, 1440844

What matters isn’t what you think should happen, it’s what others think will happen that counts.

Funny days these, the world seems to be constantly turning upside down. I could be talking about the arrival of negative interest rates in many European economies, but I’m not. What I have in mind ...


March 10, 2015, 2:18 pm, 1436840

“Growth theory was invented to provide a systematic way to talk about and to compare equilibrium paths for the economy. In that task it succeeded reasonably well. In doing so, however, it failed to come to grips adequately with an equally important and interesting problem: the right way to deal ...


March 5, 2015, 8:18 pm, 1434442

Both in Cyprus and Iceland foreign funds flowed into the islands, in the end forcing the government to make use of extreme measures when the tide turned. These measures are normally called ‘capital controls’ which in these two cases hides the fact that the measures used are fundamentally different in ...


March 1, 2015, 4:18 pm, 1431334

This is the second in a series of posts (first one here) in which I try to argue that the balance between costs and benefits of belonging to the European monetary union has shifted in the post crisis world, especially for heavily indebted countries such as those to be ...


February 25, 2015, 6:18 pm, 1429077

Perhaps we’ve been watching the wrong German politician throughout the whole Greece/Eurogroup drama. Usually, the Vice-Chancellor of Germany is one of those posts that comes with a lot more dignity than it does power, like the US vice-presidency in the pre-Cheney days when it wasn’t worth a pitcher of warm ...


February 25, 2015, 4:18 pm, 1429002

Ever since 2010, when Greece first turned to the IMF for assistance, the crisis handling has been characterised by too little too late, which is why Greece is still grabbing the headlines. The Greek banks are a serious part of the problem with liquidity crunch and non-performing loans at 33.5% ...


February 25, 2015, 12:18 pm, 1428838

Reuters — Greece admitted on Wednesday it will struggle to make debt repayments to the IMF and the European Central Bank this year as Germany’s finance minister voiced open doubts about Athens’ trustworthiness. A day after euro zone finance ministers agreed ...


February 24, 2015, 2:18 pm, 1428108

There’s an interesting question about “analysis” which confronts anyone who seriously wants to engage in it: do you organize your focus around what you want to happen (practical policy emphasis) or do you concentrate your efforts in detailing and outlining what you think will happen? Naturally the closer you are ...