During the last Korean meeting in Busan for a new Aid Effectiveness strategy for Development the big shots were there: Hillary Clinton, Queen Rania of Jordania, Lee Myung-Bak, President of the Republic of Korea, and Ban Ki-moon, Secretary-General of the … Continue reading →
Here is the main message that came out of the December 9 European Council. We commit to establishing a new fiscal rule, containing the following elements: General government budgets shall be balanced or in surplus; this principle shall be deemed respected … Continue reading →
“12/9/2011: On this International Anti-Corruption Day, let us pledge to do our part by cracking down on corruption, shaming those who practice it and engendering a culture that values ethical behaviour.” Secretary-General Ban Ki-moon Message on International Anti-Corruption Day
Draghi si è mosso, e nulla accadde. Keynes la chiamò trappola della liquidità. Una situazione in cui la politica monetaria è impotente ad aiutare l’economia ad uscire dall’impasse. Uno stato delle aspettative così cupo, così nero, che qualsiasi ammontare di … Continue reading →
Despite the continuing crisis at the heart of Europe, Croatia has become the latest country to sign a treaty to join the EU. The accession agreement was signed by Prime Minister Jadranka Kosor and President Ivo Josipovic. Our heart … Continue reading →
Draghi moved, nothing happened. Keynes called it liquidity trap. A situation where monetary policy was helpless to support the economy. A state of market expectations so grim that all additional liquidity would be hoarded and not invested while waiting for … Continue reading →
New report by the European Commission on Public Finances. Startling discovery. The word “consolidation” or “consolidate” appears 222 times. There is also a definition for it: Fiscal consolidation: An improvement in the budget balance through measures of discretionary fiscal policy , … Continue reading →
I was at an interesting Conference a few days ago. Speaking was an official from the European Commission who put on some nice public debt to GDP arithmetic: 1 – m ε – m b. Wow. What is it? It … Continue reading →
Ho chiesto al mio amico e collega Leonardo Becchetti di scrivere un pezzo su questo blog su un tema di estrema importanza, quello della tassazione delle attività finanziarie. Grazie Leo. Aggiungo (io) che userei questo gettito non per ridurre il … Continue reading →
So the big problem seems to be that (European?) countries that are in the midst of the worse recession ever occurred after WWII adopt restrictive fiscal policies instead of expansive ones. Big mistake. We economists say these wrong policies are … Continue reading →