December 5, 2005

Economics

More A Whimper Than A Cry

by Edward Hugh

Well the G7 meeting has come and gone, but I’m not sure how much the world is going to notice the fact. If I had been a fly, perhaps I would now be glad I hadn’t wasted my efforts. Basically there is a ’shift’ from focusing on the oil issue to the inflation one, but [...]

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September 7, 2005

Europe and the world

On Un-Common Ground

by Edward Hugh

Now just remember, you read about it first on Afoe. Bertrand Benoit and David Pilling have an excellent article in the FT today:
Question: Which of the world’s biggest economies is holding an early election this month dominated by debate over radical economic reforms?
Two clues: The economy, long in the doldrums, is showing signs of [...]

July 20, 2005

Currencies

Something Worries Me About Peter Bofinger

by Edward Hugh

Really I realise I have been remiss in another important sense. I have long assumed that in fact the decision to reduce deficits was taken due to the coming fiscal pressure from ageing. This certainly was the background to the discussion. However now I look at the details of the SPG this area is not [...]

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July 12, 2005

Economics and demography

Oooops It Isn’t Baaack….

by Edward Hugh

Morgan Stanley team members Steven Jen and Eric Chaney (joined by Takehiro Sato and David Miles) debate today the interesting question of whether the eurozone economies have entered a liquidity trap (LT). Those who have no idea what one of these would look like could do worse than read Paul Krugman’s classic article on the [...]

The European Union

More On The Social Model

by Edward Hugh

Well French Central Bank Governor Christian Noyer is back in the news again. Today the FT have an interview with him, and some of his points make interesting reading.

Read more… or Read more right here… »
[...]

June 21, 2005

Currencies

Sweden Acts On Interest Rates

by Edward Hugh

Well Sweden has just put the cat among the pigeons. Taking advantage of its ability to apply an independent monetary policy, the Riksbank has decided to cut its base lending rate from 2.0% to 1.5%. The reason why is not hard to discern, apart from the reduced growth forecast for this year, the inflation [...]

June 17, 2005

Currencies

The First Chink of Light

by Edward Hugh

There is a very interesting article in todays Financial Times. For the first time an executive board member of the ECB - Lucas Papademos - has spoken openly about the difficulties presented by having a single monetary policy for such a diverse set of economies. In fact these comments take on more significance in the [...]

May 31, 2005

Economics and demography

‘Gloom’ After French Vote

by Edward Hugh

The Washington Times (of all places) carries a UPI text about a Deutsch Bank research note on the economic consequences of the French ‘no’:
“France’s rejection of the European Union constitutional treaty by a majority of 54.9 percent is a severe blow to European integration and threatens to depress European economy back into eurosclerosis as in [...]

May 25, 2005

Currencies

Crisis Looming At The ECB?

by Edward Hugh

A right royal row is brewing at the ECB. Basically the old guard theorists of the ‘one size fits all’ monetary policy are being challenged by more pragmatic observers of day to day realities. For the moments it is the politicians who are making the running (but there are plenty of competent economists in Germany [...]

May 9, 2005

Currencies

An Asian IMF?

by Edward Hugh

Yes, that’s what Bloomberg’s William Pesek suggests we might see evolving. As Pesek notes, the creation of an Asian Monetary Fund would:
“have major consequences for the global elites and the so-called “Washington Consensus” on how developing nations should go about raising living standards for their swelling and often poor populations.”
In particular, if this came off, [...]

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