Tags » Macroeconomics

Brexit, the pound, and the J-curve effect

How should we assess the effects to date of the UK’s vote to leave the European Union (Brexit) back in June? In the months since then, we have been inundated with a raft of conflicting evidence about its short term impact on the economy. 750 more words


Restoring shared prosperity: the structural Keynesian solution

What should be the direction of economic policy in the US and more widely following the damage wrought by the Great Recession and its aftermath? Sluggish growth across many advanced countries continues to be a problem. 1,160 more words

Political Economy

Good for Germany, good for Europe

After years of frugality, German consumers are finally spending again, at a rate not seen since the dotcom boom of the 1990s. According to the FT, private consumption is growing at about 2% per annum, driven by high levels of employment, rising wages, and low inflation and interest rates. 462 more words

Political Economy

Is the “flight to quality” effect breaking down?

Macro letter – No 61 – 16-09-2016

Is the “flight to quality” effect breaking down?

  • 54% of government bonds offered negative yields at the end of August…
  • 2,460 more words

Economics as inevitably political

“The many supporters of neoclassical economics present it as “value free” in the sense that it encapsulates eternal truths of economic behaviour and natural law that are as independent of human perception and will as the law of gravity.

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Political Economy

Bubbles, stagnation and 'real' Keynesian economics

Here is an interview with left-Keynesian economist Thomas Palley, who has written a number of books centred around the explanation of and solutions to rising inequality, the Great Recession, economic stagnation and the dominance of finance in the economy and its damaging political influence. 69 more words

Political Economy