Tonycurzonprice's Favorite Links on economics from Diigo

David Brooks. The Culture of Debt (NYTimes.com)

Tue, 22 Jul 2008 07:22:25 -0000

Highlights and Sticky Notes:

The Culture of Debt

Tags: economics communitarianism conservatism debt

Posted by: tonycurzonprice

John Muellbauer: A housing-led recession is looking very likely (vox)

Mon, 21 Jul 2008 08:57:40 -0000

Highlights and Sticky Notes:

Looking ahead

Looking forward, the research suggests a UK recession will be hard to avoid. Relative to mid-2007, the decline in the housing wealth to income ratio will soon reach 15%, which would eventually lower the consumption/income ratio by about 2.5 percentage points. But real household incomes are themselves falling, under pressure from oil and food prices. A further 1% or more fall in consumption is likely from the direct and interaction effects of the contraction of credit availability. On top of all that comes the effect of the fall in the stock market. The estimated adjustment speed in the model is 0.35 per quarter, so it takes several quarters for the full effects to show up.

Tags: economics

Posted by: tonycurzonprice

Edmund Phelps - Putting the macro-economic picture together (Ft.com)

Mon, 21 Jul 2008 08:48:39 -0000

Highlights and Sticky Notes:

In search of a more dynamic economy

Tags: economics

Posted by: tonycurzonprice

Brad DeLong: The long history of economic growth theories

Tue, 01 Jul 2008 20:02:34 -0000

Highlights and Sticky Notes:

Nevertheless, a dispassionate observer might point out that for someone with limited resources and opportunities for policy reform to keep betting double-or-nothing on neo-liberalism is a strategy that has a well-deserved name: “Gambler’s Ruin.”

Tags: economics growth

Posted by: tonycurzonprice

Fixing the global food crisis (Arvind Subramanian, VoxEU)

Mon, 30 Jun 2008 14:45:32 -0000

Tackling the challenges posed by the current food crises requires joint action by various members of the international community. Developed nations should take the leadership role. In the short run, Japan and China should allow their stocks of rice to be exported to those in need, and the United States should eliminate origin requirements on food aid. Over the medium run, we need collective action in the WTO to eliminate distortions in agriculture and agricultural trade, including the replacement of US and EU biofuel programs with green policies that do not actively pick the winners. Over the long run, we need to rally resources and revitalise institutions to boost agricultural research and productivity in developing countries, especially Africa.

Tags: food economics

Posted by: tonycurzonprice

Bosker & Buringh: 1000 years of urban history (VoxEU)

Sat, 28 Jun 2008 13:32:26 -0000

From Baghdad to London: Lessons from one thousand years of urbanisation in Europe and the Arab world

Tags: cities growth economics

Posted by: tonycurzonprice

Paul Krugman: Grains Gone Wild

Mon, 07 Apr 2008 09:20:42 -0000

Highlights and Sticky Notes:

Since it takes about 700 calories’ worth of animal feed to produce a 100-calorie piece of beef, this change in diet increases the overall demand for grains.

Tags: economics food

Posted by: tonycurzonprice

Hiding behind the invisible hand - Paul Krugman - Op-Ed Columnist - New York Times Blog

Sat, 22 Mar 2008 21:31:49 -0000

Highlights and Sticky Notes:

Consider the press conference held on June 3, 2003 — just about the time subprime lending was starting to go wild — to announce a new initiative aimed at reducing the regulatory burden on banks. Representatives of four of the five government agencies responsible for financial supervision used tree shears to attack a stack of paper representing bank regulations. The fifth representative, James Gilleran of the Office of Thrift Supervision, wielded a chainsaw.

Tags: economics regulation subprime

Posted by: tonycurzonprice

Macro and Other Market Musings: What Many of the Great Depression Comparisons Miss

Sat, 22 Mar 2008 12:43:40 -0000

The regulation/de-regulation/crash cycle

Highlights and Sticky Notes:

There seems to be a pattern doesn't there: regulation is introduced in response to a financial crisis; the economy evolves and the regulatory framework is seen as outmoded and inefficient and the "regulatory dialectic" plays itself out; financial liberalization occurs and financial entrepreneurs push their new freedom to its limits, resulting in a crash....and so it goes on. Cycles are endogenous to capitalism.
But we have at least learned something from the Great Depression:we seem better able to insulate the real economy from the pathologies of the financial sector, through automatic stabilizers and discretionary policy.

Tags: economics subprime

Posted by: tonycurzonprice

FT.com / Comment & analysis / Editorial comment - Spiritual solace

Sat, 22 Mar 2008 12:14:27 -0000

Incentive effects of religion. Could it be that power promises to sort things out, and state religion is hoped to be an insurance policy for power when they don't turn out?

Highlights and Sticky Notes:

Catholics and Protestants alike are less depressed when bad things happen to them – for example, when they lose their jobs. Religious belief provides comfort in troubled times.

Tags: economics religion

Posted by: tonycurzonprice

BBC NEWS | Business | Financial crises: Lessons from history

Fri, 21 Mar 2008 14:23:52 -0000

Lender of last resort means regulator/bank collusion. It is a system designed to fill smokey rooms.

Highlights and Sticky Notes:

Secret negotiations by the Bank and London financiers led to the creation of an £18m rescue fund in November 1890, before the extent of Barings' losses became publicly known.

Tags: economics subprime

Posted by: tonycurzonprice

france inter > blogs

Fri, 21 Mar 2008 13:32:25 -0000

Highlights and Sticky Notes:

Eros et Civilisation pose la question posée déjà plus tard Norman Brown (Eros et Thanatos) et qui parait-il fut celle posée par Freud: "Que désire l'homme au-dessus du bien-être économique et du pouvoir de maîtriser la nature?"

Tags: economics economics-roll girard suicide

Posted by: tonycurzonprice

econoclaste - Le blog d'econoclaste

Fri, 21 Mar 2008 13:26:43 -0000

Le blog d'éconoclaste

Tags: economics economics-roll

Posted by: tonycurzonprice

Alea | Negative Repo Rates Today

Fri, 21 Mar 2008 13:23:14 -0000

Highlights and Sticky Notes:

Yep they are back, negative repo rates on T-bills. We have seen negative repo rates before on [ possibly squeezed ] notes and treasuries but I don’t recall ever seeing that on T-bills.
Quote 3 month T-bill repo: -0.20% also 4 year notes around -0.25%
Thanks to Stan J.

Tags: economics roll

Posted by: tonycurzonprice

Grasping Reality with Both Hands: Economist Brad DeLong's Fair, Balanced, and Reality-Based Semi-Daily Journal

Thu, 20 Mar 2008 20:03:16 -0000

Highlights and Sticky Notes:

whether--and how--Karl Marx is relevant to a twenty-first century neoclassical economist.

Tags: economics marx

Posted by: tonycurzonprice

RGE Monitor

Thu, 20 Mar 2008 14:05:12 -0000

Highlights and Sticky Notes:

Such radical policy action includes a government plan to purchase – at a significant discount to minimize its fiscal cost – hundreds of billions of dollars – possibly trillions – of mortgages, effectively a nationalization of mortgages. Once purchased by the governments at a significantly discounted price these mortgages could be restructured to reduce their face value, reduce the interest rate on the mortgage and allow distressed but solvent borrowers to avoid foreclosure. To limit borrowers’ moral hazard only truly distressed borrowers would qualify: i.e. no condo flippers, no second home borrowers, no early default borrowers; only borrowers that were likely to be subject to deceptive and/or predatory lending practices. Only this formal nationalization of mortgages will start to stop the foreclosure disaster and jingle mail tsunami ahead of us. The fiscal costs and lenders’ moral hazard risks of such a plan can be significantly reduced if action is taken early and if the price at which the government buys mortgages from lenders is low enough.

Tags: economics subprime

Posted by: tonycurzonprice

Project Syndicate

Wed, 19 Mar 2008 23:12:19 -0000

Highlights and Sticky Notes:

The hardest challenge will be for economies mired in oligarchic capitalism to accomplish a similar transition. It may take nothing less than revolution – ideally peaceful, of course – to replace the elites who now dominate these economies and societies, and for whom growth is not the central objective.

Tags: economics oligarchy russia

Posted by: tonycurzonprice

Wired 2.03: The Economy of Ideas

Sat, 23 Feb 2008 14:19:29 -0000

If our property can be infinitely reproduced and instantaneously distributed all over the planet without cost, without our knowledge, without its even leaving our possession, how can we protect it? How are we going to get paid for the work we do with our minds? And, if we can't get paid, what will assure the continued creation and distribution of such work?

Highlights and Sticky Notes:

we are sailing into the future on a sinking ship.

Digital technology is detaching information from the physical plane, where property law of all sorts has always found definition.

Law protected expression and, with few (and recent) exceptions, to express was to make physical.

Tags: economics jz macarthur

Posted by: tonycurzonprice

Project Syndicate

Wed, 20 Feb 2008 15:33:58 -0000

Policy must also chart a stable long-term course, which implies the need to reconsider the paradigm of the past 25 years. That means ending trade deficits that drain spending and jobs, and restoring the link between wages and productivity. That way, wage income, not debt and asset price inflation, can again provide the engine of demand growth.

Tags: debt economics

Posted by: tonycurzonprice

FT.com / Columnists / John Kay - Not the time to emphasise Scotland’s fealty

Wed, 20 Feb 2008 09:48:04 -0000

But the issue of the value of the pound in the Scotsman’s sporran is a smokescreen. The larger question is the income Scottish banks derive from lending out the cover for their £3bn note issue for about half the time.

Tags: economics nationalisam

Posted by: tonycurzonprice