5691 notizie

07 feb 2015 00:02

The Modern Money Primer: Spanish Language Edition

The Modern Money Primer: Spanish Language Edition For our Spanish speaking followers, my Modern Money Primer has just been released in Spanish and is available: Here’s the description of the book: El esfuerzo intelectual que se realizó en el campo de la física tras la aparición de la teoría de la relatividad o del [...]

economia |

06 feb 2015 19:16

Rethinking the Global Currency System

From a talk by Professor Kenneth Rogoff; January 15th 2015. All of the views are Rogoff’s (as best I could jot them down and interpret them), except where [bracketed], which are my comments. [Rogoff talked to a powerpoint on the above topic a few weeks ago, which was more about individual monetary regimes in today’s [...]

economia |

06 feb 2015 12:23

Latin American Corporate Finance: Is There a Dark Corner?

Since last year there has been much talk of possible financial stress stemming from increased debt leverage in non-financial corporates of emerging market economies. A recent study has brought to light some key evidence on the Latin American case (Bastos et al, 2015). EME non-financial corporate debt has been on the rise Back in 2013, [...]

economia |

06 feb 2015 01:33

Dickens and Gatsby on Turkey’s poor and working children

Like my friend Esther’s father Jamie, I am a Charles Dickens fan because of the novelist’s exquisite use of the English language. I recently realized that I should also read Dickens to understand today’s Turkey. Here is the intro. to my latest Hurriyet Daily News (HDN) column. The title, which summarizes the column well, should dispel any [...]

economia |

03 feb 2015 16:16

Jobs for Greeks and for Americans, Too

Here’s a nice piece: The Workers’ Think Tank: With an eye on the United States and Greece, scholars at the Levy Economics Institute are developing plans to ensure full employment, by Sasha Abramsky, February 2, 2015, The Nation. As Sasha notes, the Levy Institute has a novel approach to fighting unemployment: JOBS! Hardly anyone ever [...]

economia |

03 feb 2015 14:07

The Sum of All Our Fears! The Outlook for 2015

In 2013, an asset management consultancy identified alien invasion as a risk for the global economy, albeit an unlikely one. An online reader wryly observed that even such an event would be an excuse for markets to rally further as businesses could look forward to the prospect of demand from new non-human customers. Since 2009, [...]

economia |

03 feb 2015 14:04

Inequalities, National and Global

The publication of Thomas Piketty’s Capital in the Twenty-First Century brought attention to an issue that has been slowly seeping into public discourse. President Obama’s State of the Union address made it clear that we will not need to wait until the 2016 Presidential campaign to hear proposals to rectify the rise in inequality. But the data and trends of [...]

economia |

02 feb 2015 13:52

What Ever Happened to the Misery Index?

Remember the 1960s? The 1970s? Back then, inflation surged from one peak to another but failed to deliver the low unemployment rates promised by the Phillips curve. In fit of frustration, economist Arthur Okun invented what he called the misery index—the sum of the inflation and unemployment rates. As the following chart shows, those were [...]

economia |

02 feb 2015 01:27

The tsar and the sultan (queen) meddle with monetary policy

Governor Erdem Başçı did indeed save the best for last during his briefing on the Central Bank’s first Inflation Report of the year on Jan. 28. At the Q&A session, he said the monetary policy committee (MPC) would cut interest rates at an emergency meeting on Feb. 4 if annual inflation fell more than one percentage point in January. Here is [...]

economia |

30 gen 2015 17:46

As US Growth Slows in Q4, Inflation Turns Negative

The Bureau of Economic Analysis reported today that the growth rate of real GDP slowed to an annual rate of 2.6 percent in the fourth quarter of 2014. That is barely half of the 5 percent rate reported for the third quarter, but still a bit above the 2.4 percent average growth rate since the [...]

economia |