Monthly Archives: July 2015

Insufficiently conservative central bankers

Simon Wren Lewis writes thoughtfully about my post arguing that Andrew Haldane should keep his views on matters outside the BoE’s remit to himself.  It’s socially wasteful to clip the wings of visionary thinkers, he points out. However, a few … Continue reading

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Haldane on how to get firms to do what we want them to do

Andrew Haldane, BoE chief economist, was interviewed by Newsnight’s Duncan Weldon, and he makes many interesting remarks.  Including comments that firms are too short-termist, are not spending enough on investment, are returning far too much money to  shareholders [this is … Continue reading

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Short post on fiscal short-termism

Paul Krugman complains at the harmful focus on the long-term in US fiscal policy, fighting to solve problems that are too distant to matter, while the need for short-term stimulus is neglected. Just a conjecture, but I wonder if the … Continue reading

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The global surplus bogeyman recycling mechanism

It’s becoming almost a standard narrative that actually the crisis was not caused by the Greek’s overborrowing, but instead by inadequate demand in Germany, needing involuntary demand for Germany’s exports to stabilise Germany, a demand that later wreaks havoc. Before … Continue reading

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Charles Wyplosz urges Syriza to get ready for Grexit

Amusing:  just after blogging about why I think making a plan ready for Grexit would have been self-fulfilling, and sabotaging of plan A, Charles Wyplosz writes on VoxEU that they should indeed be doing that now. His argument is – … Continue reading

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Greek plan B would have been self-fulfilling and sabotaged plan A.

Some are debating why Syriza appeared to have no plan B when it became clear that their strategy of trying to gain significantly easier terms for a new bailout was going to fail.  Paul Krugman puts it down to incompetence.  … Continue reading

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Should the UK Treasury appoint another ‘dove’ to the Monetary Policy Committee?

Recently, ex-MPC member Danny Blanchflower, known for his ‘dove-ish’ views on interest rates, wondered who would get the ‘dove-ish’ seat on the Monetary Policy Committee that David Miles was vacating [leave aside that DM would reject that label], and Danny … Continue reading

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