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The basic science has long been known: but the planet is warming faster than expected. COVID-19 is a sharp reminder of humankind’s fragility and its linkages with the natural world. Headlines understandably focus on its devastating human and economic consequences. By contrast, climate change may appear as a somewhat distant and slow-moving emergency. But risks are escalating: and some of the most recent scientific evidence is distinctly worrying. Recent developments Cloud computing. While the basic physics of greenhouse gas warming has long been understood, 1 whereby a doubling of CO 2 e co
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Comment – Default Options

( 11 mins read ) The world’s poorer nations are confronted by sharp recessions that threaten to endure. Poverty and inequality are rising rapidly, reversing earlier global income convergence. Public finances are coming under growing duress, and debt distress is

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Historically low inflation is a global phenomenon

( 2 mins read ) It is not just confined to the advanced economies Inflation in emerging market and developing economies 1.       Inflation fell to extraordinarily low levels in the emerging and developing (EMD) economies in the early stages of the

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Global Letter – Cold realities

( 4 mins read ) Broader ramifications of COVID are set to come into sharper relief, not least in the UK. Tough economic times coming Commentary in today’s 24/7 news world tends to be intrinsically incremental. But step back and

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Postcard: Staycation in London

( 4 mins read ) Cleaner, less noisy, less polluted, but operating well below capacity. Not being keen on self-isolating, we decided not to travel abroad this year, but rather to have a (ghastly word) ‘staycation’ in London. After all,

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Aggregate demand policy in a time of COVID

( 21 mins read ) Large increases in government expenditure generally necessitate restraint elsewhere However at present significant resources are lying idle: no such sacrifice is needed Hence increases in government exenditure currently need not be financed by borrowing Neither

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Focus – Abenomics is found wanting

( 14 mins read ) The record of Abenomics is at best mixed, and at worst a chronicle of failure. Overall growth potential is minimal, lowflation embedded, and vulnerability to shocks high. Orthodox macro policy is now exhausted, and progress

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Economics Risks

( 6 mins read ) Viral resurgences further set back incipient recoveriesBalance sheet distress intensifies, not least in the EMsFiscal policy support is withdrawn too soonReal activity takes several years to return to recent highsNear-zero inflation becomes embedded in the

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Comment: Britain and the tyranny of nostalgia

( 11 mins read ) Britain has now been in relative economic decline for the better part of 150 years.Many of the reasons for this were first identified as long ago as the Victorian era.Pyrrhic victories in two world wars

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Follow our contributors on Twitter

Here I discuss the international role of the euro with @Aligarciaherrer https://asiatimes.com/2020/10/politics-not-economics-demands-stronger-role-for-euro/

¿Fue buena la licitación de hoy? Si, fue buena. Pero era totalmente esperable con las expectativas de devaluación por las nubes. ¿Resolvió algún problema de fondo? Ninguno. Se ganó algo de tiempo. Restan ver 2 cosas importantes: % sector público y % que viene del desarme leliqs

After 2 weeks of multiple health screens and asking everyone to quarantine, I surprised my closest inner circle with a trip to a private island where we could pretend things were normal just for a brief moment in time.

The Merkel Plan for Wave II:

Close restaurants, bars, gyms, theaters through November, strict limits on social gatherings.

BUT: schools and daycare centers stay open!

This is evidence-based leadership during a crisis.

https://www.zeit.de/politik/deutschland/2020-10/coronavirus-bundesregierung-oeffentliches-leben-neue-massnahmen

Among the other things Suga has done in October: five visits to a dentist. First an 83-minute appointment on 10/11, then four follow-up appointments ten minutes each.

Someone's not getting any Halloween candy this year.

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