Category Archives: Uncategorized

2013 in review


The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog. Here’s an excerpt: A New York City subway train holds 1,200 people. This blog was viewed about 3,700 times in 2013. If it were a NYC subway … Continue reading

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Antonio Fatas and Ilian Mihov on the Global Economy: Add 3% and some bad accounting


  Via Mark Thoma, the Financial Times reports on the expected changes to US GDP accounting rules that are likely to raise the GDP level by 3% when they are implemented in July. I am not an expert on all … Continue reading

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Paul Krugman: Austerity Europe


  Some readers have been asking me for the data source for Paul De Grauwe’s measure of austerity. I’m working on it. Meanwhile, however — and partly for my own reference — I discovered that I can do a similar … Continue reading

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Paul Krugman: The Japan Story


  Dean Baker is annoyed at Robert Samuelson, not for the first time, and with reason. The idea of invoking Japan, of all places, to justify fears that stimulus leads to inflation or asset bubbles is just bizarre. And while … Continue reading

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A bitter defeat for Merkel months before German election | Reuters


  But on Sunday, they came up agonizingly short, losing power to the centre-left Social Democrats (SPD) and Greens, who together garnered just one more seat in the state assembly than the centre-right. The defeat is a bitter one for … Continue reading

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Wolfgang Münchau: Monti is not the right man to lead Italy


His narrative is that he saved the nation – but most Italians know they owe the fall in bond yields to Draghi, writes Wolfgang Münchau As for Mr Monti, my best guess is that history will accord him a role … Continue reading

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Paul Krugman: Inequality and Recovery – NYTimes.com


Paul Krugman comments on the Joseph E. Stiglitz about inequality and recovery: Joe Stiglitz has an Opinionator piece arguing that inequality is a big factor in our slow recovery. Joe is an insanely great economist, so everything he says should … Continue reading

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Paul Krugman: What Did I Know, And When Did I Know It? – NYTimes.com


  People have been poring over the just-released 2007 Fed transcripts, and the main surprise seems to be how complacent the institution was. Some members of the open market committee, including Janet Yellen and, let’s give credit where due, Tim … Continue reading

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Paul Krugman: The Dwindling Deficit – NYTimes.com


  It’s true that right now we have a large federal budget deficit. But that deficit is mainly the result of a depressed economy — and you’re actually supposed to run deficits in a depressed economy to help support overall … Continue reading

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Wolfgang Munchau: It does not really matter if Britain leaves


  It does not really matter if Britain leaves – FT.com Over the next 10 years, the EU will mostly deal with the institutional consequences of the eurozone crisis, deepen eurozone integration, and change European treaties to make that possible.

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