Friday, July 21, 2017
  1. A “Macroneconomic” Revolution?

    Anatole Kaletsky
  2. The Quiet Demise of Austerity

    James McCormack

    The Quiet Demise of Austerity

    9

     argues that while fiscal tightening is politically unpopular, it cannot be delayed indefinitely.

    Demise of austerity Dan Kitwood/Getty Images
    Objections to austerity were understandable after the 2008 financial crisis, when growth was languishing below 2% and sizeable negative output gaps suggested that overall employment would be slow to recover. But now the merits of austerity seem to have been forgotten just when it is needed once again. READ MORE
  3. The Politics of Germany’s External Surplus

    Clemens Fuest

    The Politics of Germany’s External Surplus

    16

     says blaming German fiscal prudence for macroeconomic imbalances is misdirected and unproductive.

    Germany economy - Frankfurt Thomas Lohnes/Getty Images
    The global debate about macroeconomic imbalances has become a misdirected critique of Germany’s spending habits and approach to trade. While political calculations may prompt Germany to think differently about its current-account surplus, there is no compelling economic reason to alter the status quo. READ MORE
  4. Why Do Cities Become Unaffordable?

    Robert J. Shiller
  5. Is the Shine Off Macron?

    Charles Wyplosz

    Is the Shine Off Macron?

    17

     has deep concerns about the French president's initial macroeconomic policymaking.

    Future of Macron Alain Jocard/Getty Images
    Within a year, Emmanuel Macron has gone from inexperienced political underdog to President of the French Republic, with an impressive parliamentary majority to boot. But, if he implements the macroeconomic policies that his administration is now planning, his winning streak may soon be over. READ MORE
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