Ed Dolan's Econ Blog

Roubini Topic Archive: Germany

  • What Ever Happened to the Misery Index?

    Remember the 1960s? The 1970s? Back then, inflation surged from one peak to another but failed to deliver the low unemployment rates promised by the Phillips curve. In fit of frustration, economist Arthur Okun invented what he called the misery index—the sum of the inflation and unemployment rates. As the following chart shows, those were […]

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  • Five Reasons Not to Fear Deflation: Which Ones Make Sense?

    In a post earlier this week, I explained why a majority of economists fear deflation. They argue that deflation disrupts the operation of financial markets and labor markets in a way that risks touching off a downward spiral. At the same time, they say, deflation weakens the power of monetary policy to reverse the downward […]

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  • Could America’s New Energy Abundance Spark a Trans-Atlantic Environmental Race to the Bottom?

    Environmentalists often pillory China, with its opaque city air, dirty water, and contaminated food as the leader of a race to the bottom. By spending as little as possible on pollution control, they say, it keeps production costs to a minimum and boosts exports. If Chinese producers had to bear the full external costs their […]

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  • Does Robert F. Kennedy, Jr. Harbor Green Illusions about Solar Power?

    Ozzie Zehner’s book Green Illusions calls our attention to the sometimes exaggerated claims that are made for alternative energy. Zehner sees these unrealistic ideas as widely shared in the mainstream environmental community. He maintains that they lead to the illusion that if we only muster the will to invest more in solar panels, windmills, and […]

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