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EUROPE
European
banking union and financial integration – Bruegel
Repairing
and deepening financial integration in the EU and the euro area will take time,
but the more the ECB establishes itself as a supervisor, the more financial
integration will advance.
Greek MP
Haikalis alleges 3m euro vote bribe – BBC
Karl Otto Pöhl, former Bundesbank
chief, 1929-2014 – FT
David
Marsh: 6 lessons for Yellen & Draghi from the life of Karl Otto Pöhl – Marketwatch
RUSSIA
The
Annotated History Of Russian Crises Since 1860 – ZH
CBR shows
how not to intervene – FT
The big
read: Kremlin struggles to restore calm – FT
Lunch with
the FT: Mikhail Khodorkovsky – FT
Khodorkovsky
offers himself as Russia’s ‘crisis manager’ – FT
Russia and the rouble – The
Economist
Russia’s rouble crisis – The Economist
UNITED STATES
Fed’s
Plosser Explains Dissent Vote, Says Policy Language Still Calendar-based – WSJ
Fed’s
Lacker: Rate Rises Will Depend On Economy’s Path – WSJ
OTHER
Argentina is the only country in the world
that was 'developed’ in 1900 and ‘developing’ in 2000. Various explanations
highlight the roles of trade openness, political institutions, financial
integration, financial development, and macroeconomic instability. No study has
so far attempted a quantitative assessment of the relative importance of each
of these competing factors. This column presents new evidence suggesting that
financial development and institutional change are two main factors behind the
unusual growth trajectory of Argentina over the last century.
ECONOMICS
EUROPE
Are
Non-Euro Area EU Countries Importing Low Inflation from the Euro Area? – IMF
Updating
the euro area Phillips curve: the slope has increased – Bank
of Finland
Does the
Stability and Growth Pact induce a bias in the EC's fiscal forecasts – DNB
MACROPRUDENTIAL
An
Overview of Macroprudential Policy Tools – IMF
Macroprudentialism – voxeu
Macroprudentialism
– A new Vox eBook –
voxeu
Macroprudentialism
is now part of the standard macroeconomic toolkit but it involves a set of
relatively untested policies. This new Vox eBook collects the thinking of a
broad range of leading US and European economists on the matter. A consensus
emerges on broad objectives of macroprudential supervision, but important
disagreements remain among the authors.
DEBATE: DOES MONETARY POLICY WORK?
Why Paul
Krugman is wrong – The
Telegraph
Krugman
on the limits of monetary policy – Money Illusion
Money,
inflation and the zero bound. Krugman-Evans-Pritchard revisited – Long
and Variable
Money
Impotence in context
– Mainly
Macro
Monetary
policy is always and everywhere about expectations – Worthwhile
OTHER
Public
discourse on the state of public finances across the world focuses on
government debt-to-GDP ratios. However, projected increases in age-related spending (health
care and pensions) can fundamentally alter our views on which countries will
need to undertake the most fiscal adjustment during the next 10 or 20 years. T
Commodity
prices, currencies and monetary policy – Market
Monetarist
Karl
Whelan: Thoughts on “Teaching Economics After the Crash” – Medium
FINNISH
Verkostoitunut teknologiayritys ja kustannukset – Tyhmyri
Puheet devalvaation hyödyttömyydestä ovat suuresti
liioiteltuja