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


April 17, 2015, 2:18 pm, 1457315

What Business Insider’s Mike Bird somewhat ironically calls #euroboom2015 seems to be well and truly with us.

The WSJ’s Simon Nixon spelled it out for us in his ...


April 15, 2015, 8:18 am, 1455666

They say the first rule of editing is “kill your darlings”. The first rule of science, however, is “sacrifice your darlings humanely in accordance with the research ethics committee guidelines, but keep their brains for further investigation”. So it is with this post. Per Mason, apparently the GFC ...


April 14, 2015, 4:18 am, 1454861

Mariano Rajoy is a man who is not shy when it comes to being controversial, as the storm surrounding his stance over the recent Greek bailout negotiations clearly illustrates (and here). So it is perhaps not surprising that he did not notably blush when he informed a ...


April 5, 2015, 8:18 am, 1450765

Just to follow up on this post, a simple test of the model would be to check if the ECEC (i.e. not normalised for compositional shifts) wages series is strongly correlated with the output gap. Output gap is easy enough – real potential GDP and real GDP are in ...


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 ...