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Schedule for Week of July 27th
Bill McBride / Calculated Risk
This will be a busy week for economic data with several key reports including the July employment report on Friday and the advance Q2 GDP report on Wednesday.Other key reports include the ISM manufacturing index on Friday, July vehicle sales, also on Friday, and the May Case-Shiller house price index ...
 
Study: Embargo wouldn't hurt Russia
Associated Press
LONDON (AP) - An arms embargo against Russia would be little more than symbolic because Russia is largely self-sufficient in supplying its armed forces, a report argued Sunday.
 
FOMC Preview: More Tapering
Bill McBride / Calculated Risk
The Federal Open Market Committee (FOMC) meets on Tuesday and Wednesday of this coming week, and it is almost certain that the FOMC will announce a reduction in monthly asset purchases by another $10 billion per month, from $35 billion to $25 billion. The FOMC statement will be released at ...
Expand sublinks   Also:  Globe and Mail | truthdig | FT | FT | USA Today | VoxEU
Related: 3 reasons Yellen's FOMC remains dovish
Sober Look
What makes Janet Yellen and a number of other FOMC members so dovish with respect to monetary policy and in particular the trajectory of rate normalization? A Credit Suisse report sites 3 key factors, which Yellen calls "unusual headwinds":1. Tighter fiscal policy.The combination of lower government spending and tax increases ...
 
Monetarist, Keynesian, and Minskyite Depressions Once Again: Yes, Lloyd Metzler Was the Greatest Chicago Macroeconomist Ever: The Honest Broker for the Week of July 19, 2014
Brad DeLong / Grasping Reality
[**Over at Equitable Growth:**][6] I have said this before. But I seem to need to say it again... The very intelligent and thoughtful [David Beckworth][1], [Simon Wren-Lewis][2], and [Nick Rowe][3] are agreeing on New Keynesian-Market Monetarist monetary-fiscal convergence. Underpinning all of their analyses there seems to me to be the ...
Expand sublinks   Also:  Economist's View
Related: Insure Against Central Bank Incompetence: My Reply to the New Keynesian Strikeforce
David Beckworth / Macro and Other Market Musings
Could it be that New Keynesians and Market Monetarists can converge on a common policy proposal? I really like David Beckworths Insurance proposal against incompetent monetary policy. Here it is.
Related: The continuum from monetary to fiscal
Nick Rowe / Worthwhile Canadian Initiative
I want to try to clear up this last remaining difference. At first I thought that David was right. Then I started building a little model, and convinced myself that Simon was right. So then I changed the question, into one of more practical relevance: "How would we ...
Related: Synthesis!? David Beckworth's Insurance Policy
Simon Wren-Lewis / Mainly Macro
Could it be that New Keynesians and Market Monetarists can converge on a common policy proposal? I really like David Beckworths Insurance proposal against incompetent monetary policy. Here it is.
 
Understanding fiscal stimulus can be easy
Mainly Macro
There seems to be a bit of confusion about fiscal stimulus. I think most people understand what is going on in undergraduate textbook models, but some seem less sure of what might be different in more modern New Keynesian models. This seems to revolve around three issues:1) In Traditional Keynesian ...
 
'Double whammy' for FTSE exporters from strong pound and slowing emerging markets
Christopher Williams / Telegraph
Currency effects and slower growth are expected to hurt BAE Systems, Diageo and Rolls-Royce
Related: Strong pound triggers rise in profit warnings
Nick Fletcher / Guardian
UK quoted companies issued 137 profit warnings in the first six months of the year, up 9% on the first half of 2013 Profit warnings from UK companies have hit a three-year high despite the improving economy, with the strong pound a growing problem for businesses with overseas operations. As ...
Related: Half of Britain to be opened up to fracking
Emily Gosden / Telegraph
The Government is expected to launch the "14th onshore licensing round", inviting companies to bid for fracking rights in previously untouched areas
 
Making Abenomics Work
The Editors / Bloomberg Views
Shinzo Abe is visiting Latin America to promote trade. He'd do more to strengthen Japan by concentrating on supply-side reform at home.
Related: Abe faces rising disenchantment in Japan
FT
Shinzo Abe's efforts to kickstart the Japanese economy have won plaudits abroad but are falling out of favour at home
 
Political Economy: Eurozone Must Brace for New Shocks
HUGO DIXON / NY Times
The crisis could easily be revived because the eurozone is not well placed to withstand a shock.
Related: EU banking union faces legal challenge
FT
Five academics have filed a case claiming that the banking union is illegal under German law because it was created without necessary treaty changes
Related: ECB backs Bundesbank call for higher German wages - Der Spiegel
CNBC
BERLIN, July 27- The European Central Bank supports Germany's Bundesbank in its appeals for higher wage deals in Germany, Der Spiegel magazine quoted ECB Chief Economist Peter Praet as saying on Sunday.
 
Five states with unemployment under 4%
USA Today
Most states with extraordinary jobless figures are in the Great Plains, where an energy boom has helped the economy.
Expand sublinks   Also:  CEPR
 
Creeping conservatism: the guaranteed minimum income
Mark Kleiman / The Reality-Based Community
Yes, Nixon, Hayek, and Milton Friedman were for it. Some version of it is still a good idea.
Related: The New Instability
STEPHANIE COONTZ / NY Times
The rules of marriage have changed, for rich and poor.
 
Paul Ryan Has Good Questions But Few Answers
Clive Crook / Bloomberg Views
Paul Ryan's admirable proposal on reforming social-welfare programs raises more questions than it answers.
Related: Oren Cass on Paul Ryan
Arnold Kling / askblog
He writes, Ryan excludes Medicaid from his Opportunity Grants. But truly untangling the safety net requires disassembling Medicaid and allowing that funding to be reallocated, either to new healthcare programs or in some instances to different ends entirely. Our current ... Continue reading →
Related: Smart Aid for the World's Poor
WSJ
The Saturday Essay: How can rich countries best help poor ones? Matt Ridley identifies five priorities that provide the biggest benefits for every dollar spent.
 
Letter: Africa's Economy
NY Times
Kwame Akonor, director of the Africana Center at Seton Hall, responds to a front-page article.
Related: The Real Raw Material of Wealth
Ricardo Hausmann / Project Syndicate
Poor countries export raw materials such as cocoa, iron ore, and raw diamonds. Rich countries export often to those same poor countries more complex products such as chocolate, cars, and jewels. If poor countries want to get rich, they should stop exporting their resources in raw form and ...
 
Summers on 'The Greatest Threat to Open Market Capitalism'
Mark Thoma / Economist's View
Larry Summers on why he supports (conditionally) the Export-Import bank (from a longer interview): Danny Vinik: I want to turn to your op-ed in the Financial Times on July 6 on the U.S. global stance on economic issues. In particular,...
 
China's financial risk
James_Hamilton / Econbrowser
Three years ago I called attention to the NYU Stern Volatility Laboratory. Since then it's grown into an even more amazing resource, giving anyone access to constantly updated information about financial conditions in dozens of countries around the globe. Of particular interest are recent changes in their measure of the ...
 
Argentina braces for fresh debt default
FT
Trigger would be missed $539m interest payment after talks between government and group of 'holdout' creditors failed to progress
 
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Paul Ryan Has Good Questions But Few Answers
Bloomberg Views
Making Abenomics Work
Bloomberg Views
Monetarist, Keynesian, and Minskyite Depressions Once Again: Yes, Lloyd Metzler Was the Greatest Chicago Macroeconomist Ever: The Honest Broker for the Week of July 19, 2014
Grasping Reality
Oren Cass on Paul Ryan
askblog
Understanding fiscal stimulus can be easy
Mainly Macro
Argentina braces for fresh debt default
FT
China's financial risk
Econbrowser
FOMC Preview: More Tapering
Calculated Risk
Political Economy: Eurozone Must Brace for New Shocks
NY Times
Is the Fed fueling a giant stock market bubble?
USA Today
What's this?
Link: Centre for Macroeconomics
Link: Economic and Social Research Council
 
Last Updated: 14:56 GMT     Sunday, 28 Jul. 2014 Archive About FAQ Home