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Jeremy Clift
Attended London School of Economics
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Jeremy Clift
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Economic concepts  - 
 
Gabaix gets many eye-catching results. First, the battle between Neo-Fisherism and traditional monetarism is resolved -- low interest rates increase inflation for a while, and then decrease it in the long run. So both theories are right. That result seems to fit the experience of Japan, which has had interest rates at zero for decades, without any sustained rise in consumer prices. Unlike in standard theories, Gabaix’s model has no ambiguity about the economy’s future path -- in econ jargon, the equilibrium is unique. And his ideas might also explain consumption and saving behavior more accurately than the typical approach, which assumes that people decide on how much to save today based on how much they might be making two decades in the future.
Economists are starting to understand why zero interest rates can spur inflation some times, send it lower others.
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economic trends  - 
 
 
Economists warned that this robust pace of growth might not last into the second half of the year, given the uncertainties over the medium and long-term impact of the country's pro- #Brexit vote in the June 23 referendum. Recent data show unease across British factories, with confidence among #UK manufacturers falling in July to its lowest level since early 2009. While consumer optimism tumbled in the aftermath of the Brexit vote, some private sector surveys suggest domestic demand has mostly held up, helped by a strong labor market.

#WorldlEconomy #EuropeanEconomy #Economy #Europe #EconomicOutlook #EconomicGrowth #EconomicRisk
#UKeconomy picks up speed
http://www.dw.com/en/uk-economy-picks-up-speed/a-19429511
Britain's economy gathered momentum in the second quarter, fresh figures from the Office for National Statistics have revealed. But pundits believe further economic expansion could be marred by the Brexit vote.
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Out from under the boot of the central planners. Their future is bright.
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economic policy  - 
 
Japan's Prime Minister Shinzo Abe has said his government will introduce a 28tn yen ($265bn; £200bn) package to boost the flagging economy. The move had been expected in the wake of the UK's vote to leave the European Union, which Mr Abe had warned would have a negative impact on Japan's economy. But this amount far exceeds earlier estimates.
Japan's prime minister announces a 28tn yen ($265bn; £200bn) stimulus package, but will it be enough to get the sluggish economy moving?
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Take a yen out of your left pocket and put it in your right pocket.
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euro  - 
 
 
#Brexit hasn’t gone global. Indeed, European data are suggesting it is staying surprisingly local so far. The reading for the widely watched German Ifo business climate index - which covers manufacturing, construction, wholesale and retail companies in Europe’s biggest economy—is a case in point. The headline index dipped to 108.3 in July from 108.7 in June. But that was both better than expected and still the second-highest outcome this year. Business expectations slid, but only marginally.

#WorldlEconomy #EuropeanEconomy #Economy #Europe #EconomicOutlook #EconomicGrowth #EconomicRisk
Why Europe’s Biggest Economy Is Stirred, Not Shaken by Brexit
http://www.wsj.com/articles/why-europes-biggest-economy-is-stirred-not-shaken-by-brexit-1469447044
The shock result of Brexit so far is that there is little sign of shock in Germany, Europe’s powerhouse economy.
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Jeremy Clift

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Anyone for a dip?
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Economic concepts  - 
 
More effective use of the IMF balance sheet would see broader access to precautionary facilities which can reduce investors’ incentives to withdraw capital and can reduce governments’ incentives to over accumulate FX reserves. And making sure the IMF works closely and cooperatively with the various RFAs which have sprung up can help ensure that their resources are complementary and not substitutes for one another.
Edd Denbee, Carsten Jung and Francesco Paternò. The global financial safety net (GFSN) is a set of instruments and institutions which act as countries’ insurance for when capital flows suddenly sto…
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Figures are not right
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Jeremy Clift
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euro  - 
 
 
The European #Commission has let #Portugal and #Spain off the hook on fiscal targets, partly for fear of aggravating euroscepticism.
The EU commission has opted not to fine Portugal or Spain on fiscal targets for fear of aggravating euroscepticism.
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Financial sector  - 
 
 
The biggest problem for DB remains its massive balance sheet
Never has Germany's lending giant Deutsche Bank looked this miserable, and according to its latest earnings release, the pain is set to get even worse.
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I don't think the Germany government will allow Deutsche Bank go down and that's a good thing for Trump because they are just about to only bank to lend to him.
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Discussion Board  - 
 
 
In a finite world with limited resources, can economies continue to grow indefinitely?
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Limited resources? We have an entire Universe of resources. When every need is met and perhaps every want is met also then growth will not be needed. We are closing in on the point where automation will provide for every need.
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energy  - 
 
By now, Saudi Arabia recognizes that low oil prices will not fully restore its market share in Asia and Europe. But it also sees that it has no more use for OPEC, an organization that it foisted on the world with the first Arab oil embargo in 1973 and has since used as a shield for its oil policies. With the US shale revolution having rendered OPEC useless, Saudi Arabia has decided that its creature is not worth keeping alive. But this does not mean that there is no hope for energy cooperation. Saudi Arabia is now pursuing a major shift in its foreign, economic, and energy policies, exemplified by the impending privatization of a portion of Aramco, its national petroleum company, which is set to expand its refining capacity.
Saudi Arabia killed OPEC, and there is no reviving it. But, as competition in energy markets shifts from crude to refined products, new opportunities for cooperation are likely to emerge, resulting in a more efficient and resilient global energy market.
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Good riddens to bad rubbish. Cartels never last unless there is an overarching government entity to prop it up. It's the only reason cartels within states last (the Federal Reserve, et al) and international cartels do not (no world government to keep all member in check with enforceable laws)
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Women in Economics  - 
 
Studies that have found that a lump-sum transfer of income towards women has real impacts on household expenditure, typically leading to higher spending on education and on children. Mukesh Eswaran's recent book Why Gender Matters in Economics has a good survey of the literature.
The way women and men spend their time has changed profoundly over the past century. Women in the developed and, to some extent, the developing world are spending much less time in unpaid household work, especially in tasks like cooking,...
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books on economics  - 
 
In his book 'Who Moved My Interest Rates,- Leading the Reserve Bank of India through Five Turbulent Years' Subbarao alleged that former Finance Ministers P Chidambaram and Pranab Mukherjee interfered in the functioning of the Reserve Bank of India, especially on setting interest rates, and the differences even led to two of his deputies not getting extensions.
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interviewed the Dalai Lama
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Frontier Economies -- The New Darlings
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For some time now, emerging markets have played an ever more important role on the global economic stage. Today they account for half of the

New Books on China
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Couple of good books on China from the IMF China's Economy in Transition: From External to Internal Rebalancing China’s current account surp

Riding the Digital Wave
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Neat video from the IMF about their publications program:

IMF Survey Magazine
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IMF Survey - the news magazine of the International Monetary Fund -- global economic and financial analysis

Indonesia: Sustaining Growth During Global Volatility [NOOK Book]
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Available in: NOOK Book (eBook), Paperback. Over the past decade, Indonesia has developed into an important regional and global economy, as

Fiscal Policy to Mitigate Climate Change: A Guide for Policymakers [NOOK...
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Available in: NOOK Book (eBook), Paperback. Efforts to control atmospheric accumulations of greenhouse gases that threaten to heat up the pl

Business and Finance News, Opinion and Analysis - HuffPost Business
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Get the latest U.S. business and financial news and share your opinions on corporate America, finance, housing, unemployment and other money

Finance & Development
www.imf.org

Back to Basics: Finance & Development explains some fundamental concepts of economics

Kenya: On the Road To Recovery
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Government policy changes and an emergency loan from the IMF help boost Kenyas economic performance in 2010, keeping the country on course t

Geithner defends IMF euro-loans
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In Capitol Hill hearing, Treasury secretary says the United States has “never lost a penny” because of fund programs, and said the region st

Finanzas y Desarrollo
www.imf.org

September 2011: All for One' examines inequality and the many ways it matters. In our overview article, the World Bank's Branko Milanovic ex

http://www.imf.org/external/pubs/ft/fandd/fre/2012/06/jquery/index.htm
www.imf.org

Single word, statistics. Type a single word to find documents containing that word. Multiple words or phrases, exports, imports, trade separ

People in Economics: A compilation of interviews published in F&D ma...
www.imf.org

People in Economics: A compilation of interviews published in F&D magazine of Nobel prize winners, policymakers, and intellectual leaders ar

http://www.imf.org/external/pubs/ft/fandd/basics/js/index.htm
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Single word, statistics. Type a single word to find documents containing that word. Multiple words or phrases, exports, imports, trade separ

IMF Podcasts
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Listen to IMF economists and other experts discuss key economic and financial issues of the day. Click on the play button. Alternatively, do

RBI's big rate cut won't spur housing market - Page2 - The Economic Times
economictimes.indiatimes.com

Puncture the artificially propped-up cost of land and approvals and real estate will become an asset class in India that generates more busi

Finance and Development: June 2012
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June 2012: The Crisis and Beyond - Five years after the first stirrings of the crisis, some countries have recovered, but others are still s

Finanzas y Desarrollo
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Los jóvenes, el grupo más afectado por la desaceleración económica mundial, se están movilizando y exigen un cambio. Han alcanzado la mayorí

Finance and Development
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December 2011: Africa's Middle-Class Motor finds growing evidence that a recent resurgence in the continent's economic well-being has stayin

Global interconnectivity - Finance and Development: September 2012
www.imf.org

September 2012: The Global Village - Technology is generating a global convergence. A big bang of information—and education as well—is impro