This link has been bookmarked by 549 people . It was first bookmarked on 19 Sep 2007, by juremes sss.
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28 Jan 17
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Trump tantrums aside, you may be finding the whole border tax adjustment discussion confusing. If so, you’re not alone; I’ve worked in this area my whole life, I co-wrote a widely cited paper (with Martin Feldstein) on why a VAT isn’t an export subsidy, and I have still had a hard time wrapping my mind around the Destination-Based Cash Flow Tax border adjustment that sort-of-kind-of constituted the basis for the Mexico incident.
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Trump tantrums aside, you may be finding the whole border tax adjustment discussion confusing. If so, you’re not alone; I’ve worked in this area my whole life, I co-wrote a widely cited paper (with Martin Feldstein) on why a VAT isn’t an export subsidy, and I have still had a hard time wrapping my mind around the Destination-Based Cash Flow Tax border adjustment that sort-of-kind-of constituted the basis for the Mexico incident.
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Trump tantrums aside, you may be finding the whole border tax adjustment discussion confusing
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26 Nov 16
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25 Oct 16
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14 Oct 16
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austerity was the result of right-wing opportunism, exploiting instinctive popular concern about rising government debt in order to reduce the size of the state.
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11 Oct 16
milwaukiedaveThe Nobel Prize-winning Op-Ed columnist Paul Krugman comments on economics and politics.
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21 Aug 16
janmorris22The Nobel Prize-winning Op-Ed columnist Paul Krugman comments on economics and politics.
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30 Jun 16
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21 Apr 16
ruibaptistaThe Nobel Prize-winning Op-Ed columnist Paul Krugman comments on economics and politics.
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19 Feb 16
Georg Metzvoodoo by Bernies campaign.
Growth 5.3% ???
Jeb promises 4% -
22 Dec 15
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23 Dec 14
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We really need to stop pretending that this is any kind of rational argument. There’s something about inflation derp that goes straight to the ids of certain people — largely, one suspects, angry old men, though it would be nice to have hard evidence on the demographic. And they will keep regarding the Journal as the place to get the truth no matter how much money it costs them.
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10 Dec 14
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27 Nov 14
Biblioteca CEE UCMBlog de Paul Krugman, profesor de Economía de la Universidad de Princeton, en "The New York Times"
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09 Sep 14
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The idea that Germany is a useful role model depends on Ordoarithmetic — the view that what we need is for everyone to run enormous trade surpluses at the same time.
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we’re actually seeing the opposite of a death spiral; call it a life spiral. For one thing, the huge surge in enrollments late in the day meant that the risk pool this year is better than insurers expected, and they now expect 2015 to be better still. Also, importantly, big enrollments mean that more insurers are entering the market, increasing competition. And, of course, the better the deal the more people will sign up: success feeds success.
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22 Jul 14
Jiaming MaoThe Nobel Prize-winning Op-Ed columnist Paul Krugman comments on economics and politics.
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05 Jul 14
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26 May 14
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07 Nov 13
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24 Oct 13
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but its bond markets are now fragmented along national lines, which makes it much less plausible
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06 Oct 13
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But when you’re using models to think through the fundamental logic of something, you always want the simplest model possible, with as few moving parts as you can manage,so that the essence of the story comes through.
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13 Jul 13
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05 Apr 13
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I guess I’m going to have to write more about David Stockman’s unfortunate rant, since a lot of people who should know better seem to think he made serious points. Right now, however, I just want to lay down a marker on an issue I really really do know something about: America as a net international debtor.
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Then came Lyndon B. Johnson’s “guns and butter” excesses, which were intensified over one perfidious weekend at Camp David, Md., in 1971, when Richard M. Nixon essentially defaulted on the nation’s debt obligations by finally ending the convertibility of gold to the dollar. That one act — arguably a sin graver than Watergate — meant the end of national financial discipline and the start of a four-decade spree during which we have lived high on the hog, running a cumulative $8 trillion current-account deficit.
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24 Feb 13
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Here’s the picture of what has happened to saving and investment in America in recent years:
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we know that most of that surge in the private sector surplus reflects the collapse of the housing bubble, and that most of the surge in the public deficit reflected automatic stabilizers
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the best measure, arguably, would look directly at policy changes. And it turns out that the IMF Fiscal Monitor provides us with those estimates, as a share of potential GDP, for selected countries from 2009 to 2012 (Table 15). What I’ve done is to plot those estimates (horizontal axis) against changes in real GDP from 2008 to 2012 (vertical axis).
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Between World War II and 1980, every US president left the debt ratio lower when he left office than when he entered. Reagan/Bush I broke that pattern; Clinton brought it back; then came Bush II. And yes, debt is up under Obama, but a depressed economy in a liquidity trap is precisely when you’re supposed to do that.
So the story isn’t “irresponsible politicians will always squander the good years”; it is “conservative Republican politicians run up debt even in good years, because they want to force cuts in social programs.” Kind of a different story, isn’t it?
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09 Feb 13
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01 Jan 13
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So Obama has set himself and the nation up for a much uglier confrontation than we would have had if he had set a negotiating position and held to it.
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26 Dec 12
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14 Sep 12
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y; the domestic side already offers a target-rich environment. But my eyebrows shot up when Dan Senor popped up speaking for Romney in the Libya/Egypt flap. Dan Senor?
I mean, Senor is one of the key figures in Rajiv Chandrasekharan’s Imperial Life in the Emerald City, an account of the disastrous US occupation of Iraq. As the head of public relations for the Coalition Provisional Authority, he exemplified the core problem with that occupation: officials were chosen for political loyalty to Bush, not experience or competence, and were evidently much more interested in getting Bush reelected than in running the country they were supposed to be fixing.
In Senor’s case this meant that instead of trying to w
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28 Aug 12
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16 Aug 12
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The New Statesman had a good idea — it went to 20 British economists who signed a letter back in early 2010 calling for immediate austerity and asked them whether they still supported the Osborne policies now that Britain is in double-dip recession. Only one of those who replied said yes, while nine urged Osborne to reconsider his opposition to stimulus.
Good on them. I was, however, disappointed to see so many of the prodigal economists asserting that they were responding to changed circumstances rather than admitting that they simply got it wrong.
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14 Aug 12
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15 Jun 12
Paul FranzGood with charts but few embeds. Compare how Krugman generally promotes video vs. Sullivan's approach.
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01 Jun 12
Rayna LifsonIn learning Economics, it is important to understand the range of viewpoints economists have. Krugman, a Nobel prize winner and an op-ed columnist in the NYT, presents the liberal perspective in an intellectual and interesting manner.
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23 May 12
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27 Apr 12
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For the uninitiated, internal devaluation means getting your wages and other costs to a competitive position, not by devaluing your currency, because you don’t have one, but by reducing wages relative to those of your trading partners. This is essential in the crisis countries, which all saw much more rapid inflation than the rest of Europe during the good years, and now need to reverse the process. When the euro was being created, the claim was that reforms would produce “flexible” labor markets, a k a markets in which wages could easily fall as well as rise.
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19 Apr 12
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28 Feb 12
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And the key point is that the two false diagnoses lead to policies that don’t address the real problem. You can slash the welfare state all you want (and the right wants to slash it down to bathtub-drowning size), but this has very little to do with export competitiveness. You can pursue crippling fiscal austerity, but this improves the external balance only by driving down the economy and hence import demand, with maybe, maybe, a gradual “internal devaluation” caused by high unemployment.
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15 Dec 11
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13 Dec 11
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up. Many commenters scoff when I say that the Obama health reform was fully paid for; no
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02 Dec 11
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Dean Baker has a series of posts about bad reporting on the euro crisis; he is evidently, and with good reason, upset at the way just about every report states as a fact that excessive borrowing caused the crisis.
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Before the crisis Spain had low and declining debt. Italy had high debt inherited from the past, but it was steadily working that debt down relative to GDP. Neither country was being profligate — that’s just not what happened. Since the crisis debt has been rising relative to GDP, but that’s what happens when you have an economic crisis.
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Yes, Greece. But Greece is now a tiny part of this story. As I said in today’s column, Greece (GDP of about $300 billion) is roughly Greater Miami ($270 billion). Italy and Spain are the big stories, and they were not, repeat not, fiscally profligate.
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to believe that fiscal contraction will lead to higher consumption and investment spending you have to believe that consumers and firms will make major changes in their current behavior based on perceptions about taxes and spending years in the future. And that’s just a lot less plausible.
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10 Nov 11
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This Is The Way The Euro Ends
This is the way the euro ends.
This is the way the euro ends.
Not with a bang but with bunga-bunga.
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02 Nov 11
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27 Jul 11
cbkinney3Krugman centrism
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26 Jul 11
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If positions were reversed, Democrats would feel just as entitled to disable, by any means necessary, their enemies’ legislative accomplishments.
Would they? Did they in fact behave like that when Republicans held the White House? No, they didn’t; Crook equates real GOP behavior with an imagined Democratic future.
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if you’ve reached the point where you don’t pay attention to anything that might disturb your orthodoxy, you’re not doing science, you’re not even pursuing a discipline. All you’re doing is perpetuating a smug, closed-minded sect.
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Howard LiptzinRT @textygirlredux: Krugman on Greenspan, Rantings of an Ex-Maestro http://krugman.blogs.nytimes.com/
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