European Economic Forecast – autumn 2011
In its latest economic forecast, published on November 10, the European Commission presents its assessment of the economic prospects for the EU and the euro area at the aggregate level. It also analyses developments in all individual Member States, as well as Candidate Countries and the economies of the US, Japan, China, Russia and the […]
Europe’s Next Nightmare
Rodrik, Dani. As if the economic ramifications of a full-blown Greek default were not terrifying enough, the political consequences could be far worse. A chaotic eurozone breakup would cause irreparable damage to the European integration project, the central pillar of Europe’s political stability since World War II. It would destabilize not only the highly-indebted European […]
Graduates Versus Oligarchs
Krugman, Paul. Dean Baker raises an important point here: it’s really awfully late in the game to be saying that the important inequality issue is college graduates versus non-graduates. It’s not clear that this was ever true, and it certainly hasn’t been true for a while. Πηγή: The New York Times πλήρες κείμενο
The Undeserving One Percent?
Rajan, Raghuram. It is amazing how the “one percent” epithet, a reference to the top 1% of earners, has caught on in the United States and elsewhere in the developed world. In the United States, this 1% includes all those with a 2006 household income of at least $386,000. In the popular narrative, the 1% […]
Is Europe on the Verge of a Depression, or a Great Inflation?
Johnson, Simon. The news from Europe, particularly from within the euro zone, seems all bad. Interest rates on Italian government debt continue to rise. Attempts to put together a “rescue package” at the pan-European level repeatedly fall behind events. And the lack of leadership from Germany and France is palpable – where is the vision […]
The maths behind the madness
Government debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece flirting with default, Italy’s bond yields rising fast, and America’s government bonds losing their AAA status, public-debt burdens have become dinner-party talk. Our interactive chart above shows current IMF forecasts but also allows you to input some […]