3rd Nov - Weekend links

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EUROPE

Brussels blog round up – Europp / LSE

The Commission’s ‘yellow card’, the cost of austerity, and is it legitimate to ban extremist parties?

Statistics Show Bailout Countries’ Slide Away from EU Targets – WSJ

Euro-zone countries in bailout programs have slipped away from the European Union’s targets for economic and social performance, a number of detailed statistical indicators show.

Breaking News: High European Unemployment Is Due to Recession – WSJ

The report could add momentum to recent attempts to change the method the commission, the European Union’s executive arm, uses to calculate countries’ long-term, “natural” unemployment rate. If adopted, it could take pressure off crisis-hit states like Spain or Ireland to implement steep budget cuts and other austerity measures.

EU must unite against sceptics and populists, says Italian prime minister – The Guardian

Enrico Letta fears next year's European elections will lead to 'most anti-European parliament in history'

Banks Point to ECB Rate Cut Next Week – WSJ

Pressure Grows on ECB To ‘Do Something’ – WSJ

  GERMANY BLAMED

Charlemagne: Fawlty Europe – The Economist

Germany's Turn – Twenty Cent

The Harm Germany Does – Krugman / NYT

More Notes On Germany – Krugman / NYT

A Fiscal Scold, Merkel Softens Tone at Home – NYT

Defending Germany – Krugman / NYT

France 1930, Germany 2013 – Krugman / NYT

German Surpluses: This Time Is Different – Krugman / NYT

UNITED STATES

Fed’s Lacker Admits Inflation Fears Proved Unfounded – WSJ

One of the Fed's biggest inflation fighters confessed Friday he's been caught off guard when he sees how calm price pressures have been in the face of epic levels of central bank stimulus.

Will the Fed "Taper" in December? – Calculated Risk

There are many key releases right at the beginning of December, and we know the Fed is "data dependent".  So here is what the FOMC would like to see to start tapering: 1) the unemployment rate fall to 7.2% in the November report, 2) Employment up about 2.2 million year-over-year in November, 3) inflation increasing toward 2% target, and 4) some sort of fiscal agreement by Dec 13th.  All possible.

  Markit PMI

Markit PMI shows "modest" manufacturing expansion in October – Calculated Risk

Prints At Lowest In One Year, Makes Mockery Of Chicago "Data" – ZH

PMI at one-year low, as output growth eases sharply – Markit

  ISM Manufacturing

Beats expectations, points to acceleration in manufacturing – TradingFloor

Rose 0.2% in October – dshort

Highest Since April 2011; "No Impact From Government Shutdown" – ZH

ISM Stronger Than Expected – Bespoke

ISM Manufacturing index increases in October to 56.4 – Calculated Risk

ISM Manufacturing Index Inches Higher For October – Capital Spectator

ECONOMICS

An interview with John Kay on Economics in the Real World – Five Books

Most people completing degrees in economics won't have read these books, but they should, says the British economist.

Insight: Property hot spots renew easy-money bubble fears – Reuters

From China to Canada and London, fast-rising property markets are haunting the global economy again, five years after the U.S. subprime mortgage bubble burst and triggered the worst financial crisis since the 1930s.

Keep the Economists off the Trading Desk – The Reformed Broker

Did nominal interest rates fail to spike during the run on the Franc? – Noahpinion

A Code Red World – The Big Picture

Richard Thaler on Behavioral Economics – Conversable Economist

Blogs review: the comparative performance of fixed and flexible ER regimes – Bruegel

World-Wide Factory Activity, by Country – WSJ

Much of the world's factory sector was expanding in October, as manufacturers in the U.S. shrugged off a government shutdown and Asia rebounded.

The IMF Annual Research Conference – IMF

Economics of Crises―Past Experiences and Present Travails

Fundamental review of the trading book – BIS

Fundamental review of the trading book news – Rivast

FINNISH

Suomen suurpankit näyttävät vahvemmilta kuin ovat – Jan Hurri / Talsa

EKP tarkastaa euromaiden suurimmat pankit – ja arvioinee vuoden kestävissä testeissään pankkien taseet pääosin riittävän vahvoiksi. Taloussanomien tarkastelu kertoo Suomen suurimmista pankeista jo nyt sen mitä EKP ei tohdi kertoa edes ensi syksynä: pankit eivät ole puoliksikaan niin vahvoja ja vakavaraisia kuin näyttävät olevan.

Murtunut mies – Saloniemi

Suomen eläkejärjestelmän sopeutuminen eliniän pitenemiseen – Eläketurvakeskus

Movember – Asioita piilossa viiksien takana – Ranneliike

Tutkimusta vai piilomainontaa – Matti Viren / Tieteessä Tapahtuu