EconoMonitor

Don't Shoot the Messenger

Category Archive: Convergence

  • Secular Stagnation Part II – On Bubble Business Bound

    “I now suspect that the kind of moderate economic policy regime…… that by and large lets markets work, but in which the government is ready both to rein in excesses and fight slumps – is inherently unstable.” Paul Krugman – The Instability of Moderation “Conventional macreconomic theory leaves us in a very serious problem, because […]

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  • The “Hot Labour” Phenomenon

    Strong growth. Rising real estate prices. Rapid job creation. Surging immigration. This list sums up the Switzerland of 2014 down to a tee. However, it also sounds like a description of what things were like in Spain in 2007 – shortly before the country’s economy fell off a cliff. What follows is a conversation between […]

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  • Can demography explain Portugal’s growth slump before the crash?

      The above still comes from a recent Financial Times video entitled “Portugal’s Brain Drain”, which can be found here, and which I encourage everyone to watch. The issue being raised revolves around the current acceleration of emigration from countries on the EU periphery, largely towards the EU core. Typically the emigrants are young educated […]

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  • As Good As It Gets In Latvia?

    For Maurice Pialat, champion of the marginal centre. “This raises a final question, which, while not central to the issues of this paper, is nevertheless intriguing: How can a country with a low minimum wage, weak unions, limited unemployment insurance and employment protection, have such a high natural rate [of unemployment]?” “To summarize, the actual […]

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  • Is The Perfect Always And Everywhere The Enemy Of The Good?

    Against a backdrop which offers an eerie parallel with events which took place somewhat to the North more than 30 years ago, Catalonia is now threatening to separate from Spain. In so doing the region seems to be putting at risk both the future of the host country and beyond that the outlook for the […]

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  • The Czech Economy That Didn’t Bounce?

    The Czech republic has been making the news recently. On the one hand the country has been on the receiving end of massive, devastating floods, while on the other the country’s government was brought to the brink of collapse (and beyond)  by the resignation  of Prime Minister Petr Necas following the arrest of one of his most trusted aides on corruption charges. After the […]

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  • The Real Experiment That Is Being Carried Out In Japan

    The future never resembles the past – as we well know. But, generally speaking, our imagination and our knowledge are too weak to tell us what particular changes to expect. We do not know what the future holds. Nevertheless, as living and moving beings, we are forced to act. – John Maynard Keynes Discussions of […]

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  • Does Portugal Have Its Own “Shortage Of Japanese” Problem?

    In a number of posts recently I have highlighted the impact of declining workforces on economic growth (here, for example, or here, or here) and the way the policies persued to address the Euro debt crisis are having the impact of  accelerating the movement of young people away from the periphery and towards the core (here, […]

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  • The Suitcase Mood

    Suitcase mood is a Russian website with travel and tourism content. The term is also a popular expression widely used within Russian culture to describe the state of mind which grips a voyager on the brink of a journey. The mood is often associated with a ritual which involves the departing person sitting, sometimes accompanied by family […]

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  • The A-b-e Of Economics

    And the world said “Let Shinzo Abe be”, and all was light. A new craze is sweeping the planet. Known by the title “Abenomics” over the last couple of years it has been steadily gathering adepts in financial markets across the globe. Despite the fact Abe’s move fits comfortably within the austerity vs growth policy […]

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