Tag Archives: counter-cyclicality

The Boom: Comments on other blogs and papers (Olivier Blanchard and Gustav Horn)

Recent GDP estimates (Germany, France) as well as survey (PMI) results indicate, that at least for now, the "official recession" could well be over. By reading different blogs, I found the following papers interesting:

A very interesting piece by Olivier Blanchard:

In a short not for the IMF publication Finance and Development, he wrotes:

But the world is not in a run-of-the mill recession. The turnaround will not be simple. The crisis
has left deep scars, which will affect both supply and demand for many years to come.

What are these deep scars?

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The case against stabilization policy — why is the discussion in the U.S. often so different from Europe?

The case for (and against certain types of) stabilization policy is a highly disputed issue. This is at least the case in the U.S. but applies to a certain fraction of European economists — this blog is a nice example. If you need another example, just have a look a the new manifesto published by the "old" Keynesian (in the terminology of an JEP’s article by James Tobin on differences between "new" and "old" Keynesians, in terms of freshness of his ideas Solow seems to be as young as he ever was) Robert Solow and some European fellows, see the link here. Even under my qualifications however, it is justified to claim that the debate is much more alive in the U.S. — not among the mainstream of European economist.

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Thomas Fricke über Angstsparen

In der heuten Ausgabe der FTD schreibt Thomas Fricke über Angstssparen (Angst essen — nicht Seele aber — Agenda auf. Herr Fricke als Fassbender-Fan wäre aber mal ein anderes Thema).

Hier mein Kommentar:

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Conference on EMU adjustment

SWP and RGE Monitor organized a conference on adjustment and macroeconomic stability of the EMU. The papers are available for download.

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