Paul Krugman: The Backwards S Of Doom (Wonkish)

The Backwards S Of Doom (Wonkish), by Paul Krugman, in NY Times: Greg Ip reports on a Bank Credit Analyst analysis of the euro crisis that emphasizes the possibility of multiple equilibria; it’s similar in spirit to what I’ve been saying, but with a niftier picture:

This kind of thing is familiar if you were involved with the attempts to make sense of the Asian crisis of the 1990s; see this paper, for example. In general, my sense is that international macro people, who have long studied crises in developing countries, have been a lot quicker to grasp the seriousness of the crisis now gripping all of us.

This entry was posted in Paul Krugman. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s