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Economists' Forum
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Economics blog from the Financial Times
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Capital controls are not beggar thy neighbour
By Kevin P. Gallagher Emerging markets have fallen victim to unstable capital flows in the wake of the financial crisis. In an attempt to mitigate the accompanying asset bubbles and exchange rate pressures that come with such volatility, a number …
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The IMF and the eurozone: weighing unconventional options to stabilise the global economy
By Domenico Lombardi and Sarah Puritz Milsom Following the unprecedented downgrade of the European Financial Stability Facility and nine eurozone sovereigns by Standard & Poor?s, there is a renewed impetus for the International Monetary Fund to step up its involvement in …
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Euro lacks a government banker, not lender of last resort
By Thomas I. Palley In his novel, The Jungle, the American muckraking author Upton Sinclair wrote about the horrendous work and sanitary conditions in the Chicago meat packing industry of the early 20th century. It is sometimes said Sinclair aimed …
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EU economy: Black hole or green growth
By Carlo Jaeger ?The facts, ma?am, just the facts?: these words, attributed to the detective Joe Friday in the American 1950s crime series Dragnet, resonate in today?s eurozone crisis. Will anybody help Angela Merkel, German chancellor and a trained physicist …
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Supply pessimism can ruin your health
By Bill Martin Has the UK?s economy been structurally weakened by the banking crisis? Policy makers think so ? in spades. Despite the depth of recession and limp recovery, they believe that the gap between output and some notion of …
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African Monetary Union risks perpetuating the myth Africa is one country
By Xhanti Payi One of the most difficult struggles being fought by those who wish to attract investment into Africa is to destroy the widely held belief that Africa is one big country. Africa in reality is a collection of …
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Why the Vickers Report failed the UK and the world
By Laurence Kotlikoff The Independent Banking Commission’s final report is a grave disappointment. The ICB (chaired by Sir John Vickers) seeks to reinstate Glass-Steagall by ring-fencing good banks and letting bad banks do their thing and, if they get into …
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Why the global economic recovery is in trouble
By Eswar Prasad and Karim Foda The world economy has hit a rough patch on the road to recovery and is in danger of skidding off course. The latest update of the Brookings Institution-FT Tracking Indices for the Global Economic …
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Euro bonds are not enough: eurozone countries need a government banker
By Thomas I. Palley The eurozone‘s public finance crisis continues to fester, reflecting both political and intellectual failure. The intellectual failure is that the crisis has been interpreted exclusively as a debt crisis when it is also a central bank …
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Is India heading into a middle income trap?
The gloss is coming off the India story. Recent weeks have seen downgraded growth forecasts, rising inflationary pressure, poor job creation numbers, a faltering stock market and an erratic trajectory in inbound foreign investment.
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