Sunday, February 1, 2015
  1. An Unconventional Truth

    Nouriel Roubini

    An Unconventional Truth

    0

     shows why novel monetary policies are likely to remain a central feature of the economic landscape.

    Confusion Christian Bucad/Flickr

    To be effective, monetary stimulus must be accompanied by temporary fiscal stimulus, which is now lacking in all major economies. That is why, given persistent insufficient aggregate demand, unconventional monetary policies will remain a central feature of the macroeconomic landscape. READ MORE

  2. The ECB and Its Critics

    Jean Pisani-Ferry

    The ECB and Its Critics

    6

     rebuts the main charges being leveled against the decision to launch quantitative easing.

    Euro sign ECB Frankfurt orkomedix/Flickr

    The European Central Bank’s decision to embark on quantitative easing has triggered an avalanche of indictments, largely reflecting northern European (and especially German) concerns. Though the main charges against QE are unfounded, they must be confronted head-on, lest they undermine the ECB’s credibility and effectiveness. READ MORE

  3. A Greek Burial for German Austerity

    Joschka Fischer

    A Greek Burial for German Austerity

    29

     urges Chancellor Angela Merkel to change course – before it is too late.

    Greece election Gail Orenstein/ZumaPress

    Even before the leftist Syriza party's victory in Greece’s recent general election, it was obvious that, far from being over, the euro crisis was threatening to worsen. And it does not take a prophet to predict that the Greek election result will leave the European Union's German-backed austerity policy in tatters. READ MORE

  4. Redistribution or Inclusion?

    Ricardo Hausmann

    Redistribution or Inclusion?

    9

     distinguishes between two sources of income inequality that are often conflated.

    Singapore city skyline night Erwin Soo/Flickr

    Many people fear that profound and deepening income inequality is a global phenomenon with similar causes everywhere. But there are two sources of inequality – disparate productivity levels among firms and unequal distribution within them – and conflating them prevents clear thinking on either one. READ MORE

  5. How Fast Will China Grow?

    Justin Yifu Lin

    How Fast Will China Grow?

    2

     says that the answer starts with an understanding of potential growth.

    Shanghai view Mengjie Jo/Flickr

    As China's unprecedented economic rise begins to slow, the country's future growth can be predicted by looking at its potential growth rate, as well as external and internal factors. Policymakers drawing up the country's next five-year plan should look to history as well as current conditions as guides in setting growth targets. READ MORE

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305 pages

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