Not only that, but a couple of real papers, from the Macroeconomics blog I subscribe to. The first has empirically proven something that motivates monetary thinkers like Scott Sumner, who depend (too much, you might say) on the idea of the Fed working through expectations management. The basic view is very simple: the Fed can [...]
Archive for the ‘Economics’ Category
14 Apr
Elsewhere on the manifesto …
Having done a few stumbling minutes on News 24 (I don’t enjoy sounding like a cheerleader) …. … here is my bit about the LD manifesto on Cif at the Polls The Guardian’s stable of writers seem very positive too. As you know, I am sceptical about their bank bashing, and there are plenty of [...]
14 Apr
The people have the whiphand. But not in the way the Conservatives would like
In case I have not mentioned it before, I am a liberal. I find the idea of being reliant on the state for my future wellbeing disturbing, and intrinsically unsatisfying. I sort of expect others to feel the same. Whether it comes from the right (see IEA comment thread) or left, I am repelled by [...]
13 Apr
What is the idea behind this graphic?
On page 22 of the Conservative Manifesto: Does this mean “ooh, how unfair that the South is hogging all the economic wealth, making the UK all fat-bottomed”? Or, “look, the Isle of Wight is up there with Northern Ireland?” Do they think this is an unnatural state of affairs, somehow caused by government meddling? The [...]
13 Apr
Strong Clegg performance vs Paxman – but I’m not sure about these banking proposals
Very strong performance against Paxman by Clegg. Particularly on immigration and the pupil premium. Command of detail excellent. But I am rather concerned about the wildly populist overbidding in their bankhating proposals. Do they think publishing these salaries will stop bankers competing against each other? No – when you know your mate’s salary, you promptly [...]
11 Apr
If I were much, much brighter I would write posts like these …
James Hamilton has somehow worked out how much the higher oil prices of recent months might affect the US economy. You can’t be purely mechanistic about it – the hit to disposable incomes caused by having to send $$$s abroad – but also look at consumer shifts, caused by asymetric reactions to oil price changes. [...]
11 Apr
The economy is a big issue – yet the politicians are squabbling within the margins for error.
Those of you who follow this blog will have waded through 000′s of words on the National Insurance cut, and the efficiency savings (I won’t bother linking). What I failed to say early enough was that this is chickenfeed compared to the issues at stake. Consider: the row about an NI threshold change [...]
8 Apr
Musings from near a mountaintop
1. Failing to read up on blogs for a week leaves a person precisely 0% less informed. I should do that more often. 2. I’ve been asked by a few people what I think of the Conservatives’ National Insurance proposals. Now, you will recall I was confused about how they were funded. And like David [...]
1 Apr
A spreadsheet to confound and ruin your holidays
Here is the spreadsheet. As with so many matters, this started with reading some Dillow post or other. This is like some embarassing instance of an academic expanding 2 lines of poetry into a thesis. But Chris quite casually wrote: And Keynesians would assent, because fiscal policy has little influence on the deficit as spending [...]
31 Mar
The TUC swipes away a miserabilist myth
And you know the myth I mean. You know, there is loads of ‘hidden unemployment‘ that reflects some sort of Labour fiddle, taking the gloss out of the frankly wonderful unemployment figures (certainly compared to the gleeful alarmism of the Conservative press last summer). Here is the TUC’s graph-strewn reply. Eight million economically inactive people [...]
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