The German government’s ‘record’ post-unification budget surplus of nearly 24bn euros was in the news this week. As a percentage of GDP it is a mere 0.8%, but compared to the UK’s deficit of just under 4%, they seem to be doing relatively well, at least in terms of the desire expressed by many politicians for governments to ‘live within their means’. 748 more words
Tags » Macroeconomics
Macro Letter – No 71 – 24-02-2017
What impact could the NATO defence spending renegotiation have on EU budgets, bonds and stocks?
- In 2006 NATO partners agreed to spend at least 2% of GDP on defence… 1,727 more words
Economist Michael Kitson dispels some myths about public and private debt and discusses the importance of public investment in new technologies. This video is especially relevant to today’s world of largely sluggish growth in output and productivity. 18 more words
Macro Letter – No 70 – 10-02-2017
The impact of household debt and saving on long run GDP growth
Neither a borrower nor a lender be; 1,158 more words
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I am currently writing up an article on what Minsky added to Keynes an onwards to whether this is an up to date theoretical framework ready for use in the 21st century.
A nice piece by the Guardian’s economics editor Larry Elliott on the seemingly neverending tragedy of the (lack of) progress of the Greek economy. As he describes, Germany is refusing to follow EU rules and reduce its large current account deficit by boosting domestic demand, which would help Greece grow, rebalance and reduce its debt burden alongside its mountain of unemployment. 153 more words