Wednesday, July 30, 2014
The Kiel Institute Barometer of Public Debt —
The Kiel Institute Barometer of Public Debt —
The Primary Surplus
The primary surplus is the difference between a country’s government revenues and expenditures, exclusive of interest. The ratio of the primarysurplus to GDP (the primary surplus ratio PSR) must be equal to or greater than the debt ratio (S) times the difference between the nominal interest rate (i) and the nominal growth rate (g) if the debt ratio is to remain stable.
PSR ≥ (i – g)/(1 + g) S.
Can large primary surpluses solve Europe’s debt problem? | vox
Can large primary surpluses solve Europe’s debt problem? | vox
For the debts of European countries to be sustainable, their governments will have to run large primary budget surpluses. But there are both political and economic reasons to question whether this is possible. The evidence presented in this column is not optimistic about Europe’s crisis countries. Whereas large primary surpluses for extended periods of time did occur in the past, they were always associated with exceptional circumstances.
Tuesday, July 29, 2014
Two Unknowns of a Guaranteed Minimum Income
Ελάχιστο Εγγυημένο Εισόδειμα: χμ... δέν είναι τόσο απλό!
Two Unknowns of a Guaranteed Minimum Income
Two Unknowns of a Guaranteed Minimum Income
EconMatters: The Long Game of Israel and Palestine
EconMatters: The Long Game of Israel and Palestine: By George Friedman for Stratfor Global Intelligence We have long argued that the Arab-Israeli conflict is inherently insoluble . N...
Sunday, July 27, 2014
IMF Programs: Myths and Misconceptions, a commentary by Masood Ahmed, Director, Middle East and Central Asia Department, International Monetary Fund
Saturday, July 26, 2014
Friday, July 25, 2014
Pablo Torija : "Do Politicians Serve the One Percent?"
openaccess.city.ac.uk/2114/1/CITYPERC-WPS-2013_04.pdf
AbstractPresent social movements, as “Occupy Wall Street” or the Spanish “Indignados”, claim that politicians work for an economic elite, the 1%, that drives the world economic policies. In this paper we show through econometric analysis that these movements are accurate: politicians in OECD countries maximize the happiness of the economic elite. In 2009 center-right parties maximized the happiness of the 100th-98th richest percentile and center-left parties the 100th-95th richest percentile. The situation has evolved from the seventies when politicians represented, approximately, the median voter.
Thursday, July 24, 2014
Wednesday, July 23, 2014
Monday, July 21, 2014
Sunday, July 20, 2014
Friday, July 18, 2014
Saturday, July 12, 2014
Wednesday, July 9, 2014
Tuesday, July 8, 2014
Monday, July 7, 2014
Friday, July 4, 2014
EUROPP – Despite optimistic economic assessments, Greek living standards are still a long way from emerging from the crisis
EUROPP – Despite optimistic economic assessments, Greek living standards are still a long way from emerging from the crisis
Faced by the crisis, an entire social model is being turned topsy-turvy in the interests of financial and economic elites. Instead of taking effective action against the crisis – through public investment, employment programmes, regulation of the finance markets, prevention of the flight of capital and extensive participation of the wealthy in the burdens of the crisis – the situation is being taken as an opportune time to whittle away social security systems, destroy trade unions and employee rights, and sell off public property at low prices.
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