ALL BLOG POSTS
This is what Bernanke could (or rather should) say about Italian events:
This is from CNBC:
Working paper of the day - Straumann et al on Switzerland, the Great Depression and the gold standard
A couple of weeks ago I came across a great paper by Peter Rosenkranz, Tobias Straumann and Ulrich Woitek - "A Small Open Economy in the Great Depression: the Case of Switzerland". It is great paper. Here is the abstract:
UPDATE: I have edited my post significantly - I misread what Scott really said. That is the result of writing blog posts very early in the morning after sleeping too little. Sorry Scott...
One of the unfortunate consequences of this crisis is increased political backing for "reforms" that have negative impact on aggregate supply. In the US in the 1930s it was the horrible National Industrial Recovery Act (NIRA) and in today's US it is higher minimum wages. I find it incredible that anybody seriously would question the negative supply side consequences of higher minimum wages. This is not a political issue, but a simple question of understanding the laws of supply and demand.
I know that most of my readers must be sick and tired of reading about my view on 'currency war'. Unfortunately I have more for you. My colleague Jens Pedersen and I have written an article for the Danish business daily Børsen. The piece was published in today's edition of Børsen. It is in Danish, but you can find an English translation of the article here.
This is from Reuters:
It is said that Europe is the biggest "victim" in what is said to be an international 'currency war' (it is really no war at all, but global monetary easing) as the euro has strengthened significantly on the back of the Federal Reserve and Bank of Japan having stepped up monetary easing.