Η εκδίκηση των δούλων και η εφεδρεία των μακαριτών: Η πολιτική οικονομία της μακροοικονομικής σταθεροποίησης
Κουτσιαράς, Νίκος, 2012, Η εκδίκηση των δούλων και η εφεδρεία των μακαριτών: Η πολιτική οικονομία της μακροοικονομικής σταθεροποίησης, Αθήνα: Παπαζήσης Η πασίγνωστη αποστροφή του John Maynard Keynes ηχεί ως προειδοποίηση στους ανθρώπους της πράξης – και τους πολιτικούς. «Πρακτικοί άνθρωποι που θεωρούν ότι δεν υφίστανται οποιαδήποτε πνευματική επιρροή, συνήθως, είναι οι δούλοι κάποιου μακαρίτη οικονομολόγου». […]
Who really pays social security contributions and labour taxes?
González-Páramo, José Melguizo, Ángel . In spite of its policy relevance, academics and policymakers cannot agree on who bears the brunt of a tax on labour. This column uses meta-regression techniques to argue that economic institutions, the tax wedge definition, and the time horizon are crucial in determining who actually pays. Results based on 52 […]
More evidence that financial markets imposed excessive austerity in the eurozone
De Grauwe, Paul, Yuemei Ji. In this Commentary, Paul De Grauwe and Yuemei Ji provide evidence to suggest that movements in the spreads in the eurozone – i.e. the difference between national government bond rates and the German rate – between 2010 and the middle of 2012, when the ECB announced its OMT (outright monetary […]
Ethnic inequality
Alesina, Alberto, Michalopoulos, Stelios & Papaioannou, Elias. A large body of research has shown ethnic diversity to have a negative impact on development. This column suggests that it is the unequal concentration of wealth across ethnic lines that is detrimental for development rather than diversity per se. It shows that ethnic inequality, measured using ethno-linguistic maps and […]
China and the end of extrapolation
Magnus, George. In 2013, China is at an important crossroads in its economic development. This column argues that we cannot continue to extrapolate from China’s recent economic record. If growth is to remain high and stable, choosing the right course will require nothing less than a significant change in China’s economic model, brought about by […]
Monetary alchemy, fiscal science
Frankel, Jeffrey. 2013 marks the 100th anniversary of US federal income tax and the establishment of the Federal Reserve. What lessons have we learnt about macroeconomic policy since then? This column assesses the postwar lessons and argues that fiscal expansion is much more likely to be effective in the short term than any monetary expansion […]
Ο Απόστολος Δεδουσόπουλος συζητά με το poleconomix
Poleconomix: Δεδομένων των δημοσιονομικών περιορισμών που αντιμετωπίζουν οι ελληνικές κυβερνήσεις των τελευταίων ετών, τί είδους και προς ποιά κατεύθυνση μεταρρυθμίσεις στην αγορά εργασίας θα έπρεπε να προωθήσουν, προκειμένου να βελτιώσουν τις επιδόσεις της; Απόστολος Δεδουσόπουλος: Νομίζω ότι η ερώτησή σας έχει δύο σκέλη: Αφ’ ενός θέτετε το ζήτημα του ελλείμματος του δημόσιου προϋπολογισμού και του […]
Jobs and growth are still linked (that is, Okun’s Law still holds)
Ball, Laurence, Leigh, Daniel & Loungani, Prakash. Will recovery be jobless? A broad array of analysts, from Vox columnists to McKinsey, are arguing that Okun’s Law is broken. This column presents new research suggesting that, in fact, Okun is alive and well. When output recovers, the jobs will come back, although employment will differ across countries. There […]
Growth slowdowns redux: Avoiding the middle-income trap
Eichengreen, Barry, Park, Donghyun & Shin, Kwanho. The rapid economic growth of emerging markets is the leading headline of our age. But growth is slowing. Using new research, this column asks why this might be, and how policymakers might remedy flagging economies. The answer seems to be education. Recent research suggests, for instance, that the […]
The appreciating renminbi
Bacchetta, Philippe, Benhima, Kenza & Yannick Kalantzis. China is perennially accused of currency manipulation. Yet, this column argues that a weak currency value doesn’t necessarily reflect currency manipulation. China is a fast growing economy with strong financial frictions and a high saving rate, and such countries naturally have weak currencies. Instead of focussing on accusations […]