Economic links
About the village agreement that set contemporary China on the path to mass prosperity.
Great series of revealing graphs.
Trying to the econblog wars.
A nice post about Austrian economics and its difficulties.
The paradox of fiat money: how does it have any value?
Nice graphic presentation of that it is nominal (money) spending that counts, not fiscal stimulus.
While US manufacturing production continues to grow, China has finally edged out the US as no.1 manufacturing nation while Japan continues to fade.
About Afghanistan’s highly problematic economic prospects.
How concern for status can increase poverty.
About the cross-temporal economic model of the film In Time (spoilers).
Why healthier lifestyles do not decrease overall health care costs:
The evidence suggests that unhealthy lifestyles tend to increase health care use at any given age and reduce life expectancy, so more is spent per year but for fewer years.
Graphing the US Fed’s failure to meet its employment mandate.
The Swiss central bank’s exchange rate target as providing a nice example of how credible price targeting by a central bank can operate without the bank having to intervene.
About providing Market Monetarism with a disequilibrium story. Explaining how Market Monetarism would work. Christina Romer argues the Fed needs a new policy framework-targeting nominal GDP.
Economist John Cochrane on the euro crisis and American stagnation. (I don’t agree with key parts, but it is an effective talk.)
Some similarities between the economic situations of Greece and the US.
Excerpts from a debate in the House of Commons in 1990 which predicted accurately problems the euro was likely to run into.
About the persistent pattern of politics being people stopping problems being fixed before disaster.
After 535 days, the eurozone crisis has finally forced Belgium’s political class to form a government. The eurozone debt crisis in 8 graphs. Nothing has been resolved. Saying that in tabloid. Wondering if the collapse of the euro is imminent. Wondering if the Fed should save the ECB from itself. Report that the UK Foreign Office is warning its eurozone consulates and embassies to have contingency plans to deal with a euro collapse. About the limits of German patience. Noting how much of the ECB’s problems are “built in”. About the rigidity of currency unions. Why the regular summits have been failing to solve the problems of the euro:
First, the resources of the EFSF will be exhausted in a few years - but confidence cannot have an expiration date.
A nice short post on the ghastly eurozone debt crisis: Euro is like a gold standard, which forces one single monetary policy into 17 countries without having unified fiscal policy. Worse still, these countries’ economies are probably not exactly in-sync, giving some countries inappropriate monetary policy for extended period of time.
Succinctly put:
the EFSF will be a debt issuance mechanism collateralised against European nations that have already been judged unworthy by the markets and then insured , in-part , by the AAA core. The Europeans have spent the last 18 months convincing the world they are politically and economically dysfunctional, so it is no surprise that non-European nations aren’t interested in this “investment”.
A simple transport costs explanation of why Northern Europe is richer: that canals and railroads are the result of human action seems to pass them by somewhat, as does the utility of that larger waterway ‘the Mediterranean’.
Great series of revealing graphs.
Trying to the econblog wars.
A nice post about Austrian economics and its difficulties.
The paradox of fiat money: how does it have any value?
Nice graphic presentation of that it is nominal (money) spending that counts, not fiscal stimulus.
While US manufacturing production continues to grow, China has finally edged out the US as no.1 manufacturing nation while Japan continues to fade.
About Afghanistan’s highly problematic economic prospects.
How concern for status can increase poverty.
About the cross-temporal economic model of the film In Time (spoilers).
Why healthier lifestyles do not decrease overall health care costs:
The evidence suggests that unhealthy lifestyles tend to increase health care use at any given age and reduce life expectancy, so more is spent per year but for fewer years.
Graphing the US Fed’s failure to meet its employment mandate.
The Swiss central bank’s exchange rate target as providing a nice example of how credible price targeting by a central bank can operate without the bank having to intervene.
About providing Market Monetarism with a disequilibrium story. Explaining how Market Monetarism would work. Christina Romer argues the Fed needs a new policy framework-targeting nominal GDP.
Economist John Cochrane on the euro crisis and American stagnation. (I don’t agree with key parts, but it is an effective talk.)
Some similarities between the economic situations of Greece and the US.
Excerpts from a debate in the House of Commons in 1990 which predicted accurately problems the euro was likely to run into.
About the persistent pattern of politics being people stopping problems being fixed before disaster.
After 535 days, the eurozone crisis has finally forced Belgium’s political class to form a government. The eurozone debt crisis in 8 graphs. Nothing has been resolved. Saying that in tabloid. Wondering if the collapse of the euro is imminent. Wondering if the Fed should save the ECB from itself. Report that the UK Foreign Office is warning its eurozone consulates and embassies to have contingency plans to deal with a euro collapse. About the limits of German patience. Noting how much of the ECB’s problems are “built in”. About the rigidity of currency unions. Why the regular summits have been failing to solve the problems of the euro:
First, the resources of the EFSF will be exhausted in a few years - but confidence cannot have an expiration date.
A nice short post on the ghastly eurozone debt crisis: Euro is like a gold standard, which forces one single monetary policy into 17 countries without having unified fiscal policy. Worse still, these countries’ economies are probably not exactly in-sync, giving some countries inappropriate monetary policy for extended period of time.
Succinctly put:
the EFSF will be a debt issuance mechanism collateralised against European nations that have already been judged unworthy by the markets and then insured , in-part , by the AAA core. The Europeans have spent the last 18 months convincing the world they are politically and economically dysfunctional, so it is no surprise that non-European nations aren’t interested in this “investment”.
A simple transport costs explanation of why Northern Europe is richer: that canals and railroads are the result of human action seems to pass them by somewhat, as does the utility of that larger waterway ‘the Mediterranean’.