Burda, Michael, (2015), “Dispelling three myths on economics in Germany”, Voxeu publications, 23 Σεπτεμβρίου Many analysts believe that German economists hold a very different view of macroeconomics. This column presents a personal view why this belief is wrong. The fact that Europe still consists of sovereign nations and that most Europeans still want to keep it that way informs much of what happens inside German economists’ heads. Σχετικές Αναρτήσεις Heise, Michael, …Read More

Kaletsky, Anatole, (2015), “Why the Fed Buried Monetarism”, Project Syndicate, 22 Σεπτεμβρίου The US Federal Reserve’s decision to delay an increase in interest rates should have come as no surprise to anyone who has been paying attention to Fed Chair Janet Yellen’s comments. The Fed’s decision merely confirmed that it is not indifferent to international financial stress, and that its risk-management approach remains strongly biased in favor of “lower for …Read More

Dietsch, Peter, (2015), “Common rules (not rates) should be the answer to tax competition in the EU”, LSE blog, 23 Σεπτεμβρίου The creativity of rich individuals and their tax advisors to hide private wealth in tax havens such as Switzerland or the Isle of Man knows hardly any bounds. Just as unethical, though often legal, are the multiple techniques multinational corporations use to shift profits to low-tax jurisdictions such as Luxembourg. …Read More

Qureshi, Zia, (2015), “Growing Out of Inequality”, Project Syndicate, 22 Σεπτεμβρίου Income inequality has been increasing in most major economies – and in many of them, it has been increasing significantly. This is a cause for growing concern, and rightly so: inequality not only can undermine an economy’s long-term growth prospects; it can restrain growth in the short term by depressing aggregate demand. Σχετικές Αναρτήσεις Münch, Richard, (2015), ” The Global Division …Read More

Mauro, Paolo, Zilinsky, Jan, (2015), “Fiscal tightening and economic growth – exploring cross-country correlations”, Voxeu, 18 Σεπτεμβρίου The public narrative on austerity is shaped by simple scatter plots purporting to portray the large negative impact of fiscal ‘austerity’ on economic growth. This column argues that, while recognising concerns about causality, economists should systematically explore correlations and multiple regressions, and test their robustness. The results reveal a mixed picture, lending partial support to the …Read More