URL: Latest posts
LSE Study: Self-Fulfilling Crisis of Eurozone Sovereign Debt
NEW
Self-Fulfilling Crises in the Eurozone: An Empirical TestIn an empirical study on Eurozone sovereign debt published at LSE and at CEPS, an EU-financed economic policy think tank, has found definitive evidence of the fragility of Eurozone-member-...
US Congressional Study: Is Copyright the Free Market at Work?
NEW
http://www.publicknowledge.org/files/withdrawn_RSC_Copyright_reform_brief.pdfIn November 2012, the Congressional Republican Study Committee briefly launched - and subsequently retracted - an ideologically-unusual study casting skepticism on...
Warren and Bernanke on Addressing Too Big to Fail in US Banking Sector
NEW
http://www.kc.frb.org/Publicat/Reswkpap/PDF/RWP07-05.pdfDuring a hearing of the Senate Banking Committee on February 26, Senator Elizabeth Warren interviewed Federal Reserve Chairman Ben Bernanke on the status of the US' largest banks. The centr...
Are Tax Cuts Good for Growth?
NEW
http://www.dpcc.senate.gov/files/documents/CRSTaxesandtheEconomy%20Top%20Rates.pdfJust before the 2012 US federal elections, a bi-partisan congressional study investigated the economic effect of tax cuts found their effects to be of limited...
Iceland Takes a Different Course
NEW
Fitch Ratings Full ReportWe are perhaps all familiar with the meme in which Icelandic President Ólafur Ragnar Grímsson says that Iceland has been successful because it "Bailed its people out and put its bankers in jail". However, b...
IMF: Austerity Has Failed Europe
NEW
http://www.imf.org/external/pubs/ft/wp/2013/wp1301.pdfIn a recently published working paper, IMF chief economist Olivier Blanchard acknowledged that the IMF under-estimated the size of the macroeconomic multiplier. The result is that t...
The Election of Shinzo Abe: Voters Mull over Monetary Policy
NEW
http://www.telegraph.co.uk/finance/economics/9751609/Japans-Shinzo-Abe-prepares-to-print-money-for-the-whole-world.htmlhttp://www.ft.com/intl/cms/s/0/7e64027c-2f04-11e2-b88b-00144feabdc0.html#axzz2FguSUj9zhttp://www.ft.com/intl/cms/s/0/a14281d8-2266-...
A Thought About Greek Austerity
NEW
Time to Scrap a Failed Policy. Time for Greece to Stand up for ItselfThese days, we are living in the middle ages of economics, where we still treat headaches by drilling in to the head.. and we treat flesh wounds by hack-sawing limbs.... but at leas...
Education's Return on Investment
NEW
OECD Education at a Glance 2012 ReportIn this era of austerity, it must be remembered that expenditures by the state are not unilaterally expenses. Funds dispensed by the state are also investments, which yield a measurable r...
Germany Restricts High-Frequency Trading, Chicago Fed Recommends Same
NEW
WSJ Article: Germany to Tap Brakes on High Frequency TradingNYT Article: Germany Act to Increase Limits on High Speed TradesLate last month, New York Times and WSJ reported on Germany's intention to restrict High Frequency Trading. High Frequen...
Zero Lower Bound: When Interest Rates Can't Drop Any Further
NEW
http://www.princeton.edu/~ceps/workingpapers/201sims.pdfRecently, a new issue has emerged in the unfolding drama of the global financial crisis. After four years of reducing interest rates and increasing money supply at central banks of virtually all...
Middle-Class Squeeze: Wages are Down, but we Aren't More Competitive
NEW
http://www.theatlantic.com/business/archive/2012/08/our-low-wage-recovery-how-mcjobs-have-replaced-middle-class-jobs/261839/American wages and labor conditions have been continuously deteriorated since the 1980s. Since the start of the 21st century h...
ECB Swings into Action - Markets Jump Accordingly
NEW
http://www.bbc.co.uk/news/business-19499950http://www.nytimes.com/reuters/2012/09/06/business/06reuters-ecb-eurozone-seniority.html?_r=1&smid=re-shareThe ECB Bond-Buying PlanLast week, ECB chief Mario Draghi launched and ECB bond-buyin...
Hayek vs. Hi-Tech
NEW
How Did we Actually Develop our Technology?Evidence from the US and IsraelWhile the standard economic paradigm concerning innovation is based on the Schumpeterian view that technological advances are brought on by entrepreneurs and that this is...
Krugman and Layard Launch Manifesto for Economic Sense
NEW
http://www.manifestoforeconomicsense.org/A-MANIFESTO-FOR-ECONOMIC-SENSE.pdf At the end of June, 2012, Nobel Laureate Paul Krugman and Richard Layard, a distinguished British economist launched a manifesto calling for a more rational policy dialogue w...
For China, Trade is not Simply About FDI
NEW
http://www.hiebs.hku.hk/events_updates/pdf/tongyueting.pdf An empirical study undertaken at the University of Hong Kong examining the phenomenon of trade and foreign direct investment in mainland China has demonstrated a key policy point of China's F...
How Portugal Found Itself in Crisis
NEW
Despite Being a Well-Managed EconomyNY Times Article on Crisis in Portugal2011 IMF Country Report PortugalThe story of Portugal is one of how a small, soundly run economy can be battered by unstable market forces in its immediate environment. Prior t...
ECB Study: Lack of Crisis Response Causing Contagion in Europe
NEW
Empirical Study on European Sovereign Spillover Riskhttp://www.ecb.int/pub/pdf/scpwps/ecbwp1419.pdfAn empirical ECB study published in February 2012 analyzing the effects of the sovereign debt crisis found that spillover from the economic situation i...
The Economist Scolds Merkel's Obstructionism
NEW
http://www.economist.com/node/21556577Half-Baked Rescue Plans, Overwhelming Focus on AusterityIn mid-June of 2012, the Economist ran a piece scolding Angela Merkel for Germany’s obstructionism in the face of organized efforts to address the rapidly...
Episodes in Economic History - Austrian Stamp Scrip
NEW
http://www.newciv.org/nl/newslog.php/_v105/__show_article/_a000105-000002.htmOn July 5th 1932, in the middle of the Great Depression, the Austrian town of Wörgl made economic history by introducing a remarkable complimentary currency. Wörgl was i...
