Hobble and Muddle
El-Erian, Mohamed. Colleagues from around the world recently gathered at PIMCO’s headquarters in California for our annual Secular Forum, when we leave behind high-frequency issues for a few days and, instead, debate what the next 3-5 years hold for the global economy. The perspective is global, informed by the insights of outside speakers, and the […]
Some Simple Deficit Reduction Arithmetic
Mansouri, Kash. Here’s a short lesson about something that every policy-maker should have learned in Macro 101, but apparently has been forgotten by many of them. Suppose we are in a country that is running a large budget deficit but, for whatever reason, decides that it needs to dramatically reduce it. Take your pick of […]