Friday 20 Jul 2018 | 22:41 | SYDNEY
Friday 20 Jul 2018 | 22:41 | SYDNEY

Friday linkage: Economics edition


Mark Thirlwell

19 June 2009 14:46

  • In a guest article for the Economist, Christina Romer, chairwoman of the US Council of Economic Advisers, looks to the 1930s to explain the risks involved in turning off the fiscal spigot too soon. The Economist’s blog, Free exchange, posts a series of responses here.
  • Back in February 2008, shortly after the oil price had breached the US$100/barrel mark, but still a few months before it peaked at just shy of US$150, I wondered where the oil shock had got to. James Hamilton argues that the run up in oil prices was an important contributor to the current downturn.
  • Dani Rodrik suggests that there is good news and bad news about the future of globalisation arising from the current crisis. The good news is that the crisis hasn’t delivered a mortal blow, but the bad news is that in his judgment none of the current policy agenda will no do much to deal with globalisation’s underlying weaknesses either.
  • Deglobalisation in action: the IIF has released its latest report on capital flows to emerging markets. It reckons that net private capital flows to emerging markets in 2009 will be about US$141 billion, less than half the US$392 billion estimated for 2008, which itself was dramatically down on the record US$890 billion of flows in 2007.
  • In the London Review of Books, Donald MacKenzie reviews Gillian Tett’s book on the financial crisis and provides a short summary of the perils arising from making dubious assumptions about correlations. On the latter, this is also worth a look.
  • Finally, the Atlantic has posted an interview with Paul Samuelson, one of the Grand Old Men of economics.  Part one is here, part two here.