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( 4 mins read ) Recessions are expensive. Output is permanently lost; and often potential growth is reduced too. In an earlier Global Letter, 1 we reproduced path-breaking calculations made for the UK by the late Christopher Dow. Studying the
( 9 mins read ) Monetary growth has accelerated, prompting inflation warnings from Monetarists The pick-up reflects extraordinary policy interventions in response to the pandemic Demand for money balances has risen too, although the surge appears to be waning There
( 7 mins read ) 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
( 6 mins read ) The EU’s recovery programme is a potential game changer for the economy and the single currency. Decisive moment In his memoirs, European visionary and revered French diplomat Jean Monnet asserted that: “Europe will be forged
( 14 mins read ) High public sector debt levels are set to remain at the core of the economic policy debate. Periods of elevated and rapidly rising debt are rarely reversed without some form of default. This need not be explicit. It can be more subtle and covert. It can take the form of inflation, regulation, and the creation of ‘captive markets’ for bonds. The stage is set for an extended period of financial repression.
( 4 mins read ) Policymakers are not quite there yet, but are edging towards outright monetary finance. Forward thinking We have long argued that what was once considered unconventional monetary policy was here to stay and, if anything, likely
( 4 mins read ) The real challenge, for policy and more, will come after the virus recession is over. You wouldn’t choose to start from here. But the reality is that after a long, hesitant, and uneven upswing, the
( 4 mins read ) The Bank of England has come under attack for cutting rates. This is unfair and misguided. Back to the bottom The Bank of England has followed the example of the Federal Reserve, and slashed its
Alter eco de hoy: GPT-3: el impacto económico de la tecnología que "se está comiendo el mundo" http://www.lanacion.com.ar/2409609
Para algunos el 13 es yeta. Pero al menos no es martes. Aqui el link para escuchar el 13er episodio de La Economía en 3 minutos. Esta semana "La tasa y el dólar sucundún, sucundún"
Les voy a contar la increible historia de vida de uno de los mejores emprendedores que jamas tuvo la argentina: Wenceslao Casares.
Abro hilo (1/n)👇🏼
I feel like previous occupants of this position have a distinct tendency to go on to bigger and better things.
#JobOpening: News Assistant - Pentagon/Foreign Affairs, Asahi Shimbun #Japan http://shinpaideshou.com/2020/08/01/job-opening-news-assistant-pentagon-foreign-affairs/
Hotels aren't available for quarantine because of GoTo travel... thereby undoing one of the more effective interventions from the first wave.
As of today Okinawa has the highest rate of C19. Already exceeding hospital and hotel capacity. Can’t secure more hotel space because of tourist influx, many using GoTo subsidies
It's really the little things I've been nostalgic for during this increasingly long time away from Tokyo, like getting a スエット and a couple of onogiri at a combini after an early morning run.
Pocari Sweat is the best drink (and hangover cure) in the world, and its backstory is fascinating - I had no idea it was inspired by a doctor who drank from a pouch of IV solution to rehydrate himself after surgery 🤯https://cnn.it/39Lp1IG
Sankei's editorial does not hold back on criticizing Abe for going missing on Covid-19, calls for suspending the Go To travel campaign among other things.
Putin has signed into law an amendment that equates calls for the alienation of Russian territory with extremism. The implication is that anyone in Russia advocating Japan’s position in the territorial dispute over S Kurils is committing an extremist act. https://www.interfax-russia.ru/main/podpisan-zakon-o-priravnivanii-otchuzhdeniya-chasti-territorii-rf-k-ekstremizmu
I confess that I don't really understand why Abe and his government have been so non-chalant about what appears to be a second wave. Some hypotheses in no particular order:
Bill Maher hinted last night that Bari Weiss is going to sue NYT. The cancel culture debate isn’t going away soon.