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I really never understood why most economists study so little economic history as they tend to do, but it is a fact that most professional economists are quite uneducated when it comes to economic history.
I am writing this while I am vacationing with the family in Thailand. However, in a couple of weeks we will be heading to Laos where my wife has worked for a number of years.
My biggest wish for the Autumn is that David Laidler will win the Nobel Prize in Economics next week for ...
In this very good recent interview with the always extremely insightful David Laidler on Russ Robert's Econtalk David rightly highlights the problem that money disappeared from macroeconomics during the 1990s with the development of DSGE models.
The Cato Institute and Fraser Institute have published their annual report on Economic Freedom of the World. As always it is interesting stuff. One can of course always debate the methods used to rank different countries in Economic Freedom ranking, but I nonetheless think it gives a pretty fair description of the overall tendencies.
There is more good news from Japan today as new data shows that core inflation rose to 0.8% y/y in August and I think it is now pretty clear that the Bank of Japan is succeeding in defeating 15 years' of deflation. Good job Mr. Kuroda!
A couple of days ago I came across an article from Bloomberg, which I think is very telling about everything which is wrong about the recent hype about macroprudential policies.
It has not be a great year for Emerging Markets and the next Emerging Markets country to worry about could very well be Ukraine.