Monthly Archives: January 2017

Perceived grievance/wrong-headed sop vortex, updated

Last year, I wrote this post.  Worrying about a vortex of ever lower prosperity and policy rationality.  It was in the aftermath of the EU referendum in the UK, which can be taken to be a vote against immigration and … Continue reading

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Political economy of pre and post crisis Eurozone inflation

Before the financial crisis, a standard assumption [I subscribed to] was that the Southern peripheral countries were on a path converging their income per capita to Northern levels, and as such, through Balassa-Samuelson effects, experiencing faster inflation.  The Balassa-Samuelson effect … Continue reading

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Open letter to Neel Kashkari

Dear Neel I read that you are setting up a new research institute at the Minneapolis Fed to study inequality. I think this is a good use of resources. But I don’t think it’s appropriate for you to lead this … Continue reading

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What did Tory Remainers get for giving into the hard Brexiters?

As I wrote here for Iain Martin’s site Reaction Life, the delay in being transparent about what the UK government wants was, I conjecture, mostly about conducting a negotiation between former Tory Remainers and the victorious Brexiteers. The UK had … Continue reading

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Submitting to demonetization, or not

The Indian government decided recently to withdraw 85% of paper currency.  Despite the hair-brained nature of this scheme, ostensibly aimed at reducing corruption and tax evasion, the Reserve Bank of India agreed almost overnight.  More intriguingly, it seems to be … Continue reading

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