ALL BLOG POSTS
This is Paul Krugman on the effectiveness on fiscal policy and why fiscal "stimulus" will in fact not be stimulative:
I am in Lithuania at the moment and today I spoke at the Baltic Investment Forum. Here is a report on what I said - it is mostly a fair description of what I actually said. If you don't bother to read the conclusion is the following: Easier monetary policy, fiscal consolidation and structural reforms.
This Working Paper from Mercatus Center is highly recommendable, but I am particularly proud of footnote 28:
Dear friends if you like to read my blog posts you will have to thank Scandinavian Airlines for this one. I am stuck in Heathrow Airport for now. Cancellations and delays of my flight from London to Copenhagen mean that this has been a rather unproductive day. However, that is part of the life as a traveling standup comedian/economist - we spend a lot of time in airports. Today, however, has been a bit too much - particularly taking into account that my next trip will be on Wednesday.
I have the best wife in the world and she has been extremely understanding about my odd idea to start blogging, but there is one thing she is not too happy about and that is that I tend to leave printed copies of working papers scatted around our house. I must admit that I hate reading working papers on our iPad. I want the paper version, but I also read quite a few working papers and print out even more papers. So that creates quite a paper trail in our house...
Tonight is the night - Obama vs Romney in the second presidential debate. I am in Europe so I do not plan to stay up all night and watch it. But in fact you don't need to follow presidential debates to have something clever to say about the outcome on election day. All you need is to look at the US stock market and my forecast is that if S&P500 keeps trending upward until election day then Obama will be re-elected. If we get a major sell-off then Romney will soon move into the White House.
For many years Ludek Niedermayer was deputy central bank governor of the Czech central bank (CNB). Ludek did an outstanding job at the CNB where he was a steady hand on CNB’s board for many years. I have known Ludek for a number of years and I do consider him a good friend.