Wednesday, March 4, 2015
  1. Austerity Is Not Greece’s Problem

    Ricardo Hausmann
  2. The Costs of Grexit

    Jean Pisani-Ferry

    The Costs of Grexit

    11

     warns that Greece's withdrawal from the euro would not go as smoothly as many now seem to assume.

    Greek exit sign MPD01605/Flickr

    From Greece's perspective, leaving the euro would be highly disruptive, which explains why there is very little support for it in the country. But there is very little agreement outside Greece about how a Grexit would affect the rest of the eurozone. READ MORE

  3. The Deflation Bogeyman

    Martin Feldstein

    The Deflation Bogeyman

    4

     points out that the much-feared downward price spiral remains an unproved theory.

    hallway door bogeyman Tim Pierce/Flickr

    The world's major central banks are currently obsessed with the goal of raising their national inflation rates to their common target of 2% per year. But how justified is their fear that a negative demand shock could trigger a downward price spiral? READ MORE

  4. The Negative Way to Growth?

    Nouriel Roubini

    The Negative Way to Growth?

    19

     asks why so many investors are willing to lose so much money.

    Down arrows coba/Flickr

    Monetary policy has become increasingly unconventional in the last six years, with central banks implementing zero-interest-rate policies, quantitative easing, credit easing, forward guidance, and unlimited exchange-rate intervention. But now we have come to the most unconventional policy tool of them all: negative nominal interest rates. READ MORE

  5. Making Do With More

    J. Bradford DeLong

    Making Do With More

    11

     asks why living standards are stagnating in societies blessed with unprecedented abundance.

    American working class hands joined javi.velazquez/Flickr

    Ensuring that the workers of today and tomorrow can capture the benefits of the information age will require us to redesign our economic system. Only by finding ways to put true value on the goods we produce can we sustain a middle-class society, rather than one of techno-plutocrats and their service-sector serfs. READ MORE

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308 pages
308 pages

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