Sunday 22 Jul 2018 | 09:16 | SYDNEY
Sunday 22 Jul 2018 | 09:16 | SYDNEY

Tuesday economics linkage


Mark Thirlwell

19 January 2010 14:42

  • The Financial Times is running a series on the BRICs. Gillian Tett has an interesting piece looking at the origin of the acronym that's launched a hundred investment funds, and Martin Wolf makes a point that I made in The Interpreter last November: viz. that, so far, the BRIC story is really a story about China and (to a lesser extent) India.
  • Max Corden has written a short essay on what he describes as ambulance economics, in which he sets out the pros and cons of fiscal stimulus. His provisional judgment is that, thanks to the Keynesian ambulance, a Great Depression has been averted.
  • To the extent that Keynesian economics (loosely defined) has been seen as a post-GFC winner, then Chicago economics (again loosely defined) has often been cast as a post-GFC loser. John Cassidy wrote a piece recently for the New Yorker on the state of Chicago economics, although it's still behind the paywall. Not behind the paywall, however, are summaries of Cassidy's interviews with a series of eminent Chicagoans: Richard Posner, Eugene Fama, John Cochrane, Gary Becker, James Heckman, Kevin Murphy, and Raghuram Rajan
  • My colleague Steve Grenville pointed me to this collection of papers and speeches at the Asian Development Bank looking at the impact of the GFC on emerging Asia.
  • Steve also recommended (and contributed to) this McKinsey's roundup of short essays on the future of the US dollar. The title of Charles Wyplosz's contribution comes pretty close to capturing my own views on the subject.
  • Paul Krugman has some interesting things to say about crises, including the transformative effects of the Asian financial crisis, and the differences and similarities between currency crises and deleveraging crises.
  • Olivier Coibion and Yuriy Gorodnichenko argue that we shouldn't be too quick to bid farewell to the Great Moderation, even after the GFC. Brad DeLong responds that it depends in part on whether the focus is on GDP volatility or employment volatility.
  • Charles Stross notes a fairly successful bit of prediction. (BTW, Halting State is well worth a read).