People keep telling me that the top 1% own some large chunk of the wealth – and that this is obviously unfair. And hey, it might be. But I think the conception of wealth that is being used here isn’t really appropriate. The wealth that is being looked at is the asset value of these …
Category Archive: International economics
Permanent link to this article: http://www.tvhe.co.nz/2011/08/17/a-point-on-wealth/
Aug 11 2011
A point on debt
Around the world there are a lot of complaints that there is too much debt, that debt will prevent a recovery, and that debt is the root of all problems – be it fiscal deficits, debt fueled consumption, or a debt powered housing market. While there are undeniable issues to keep in mind, there are …
Permanent link to this article: http://www.tvhe.co.nz/2011/08/11/a-point-on-debt/
Aug 09 2011
What to watch for during the sovereign debt crisis
Note: Europe is where the real crisis is now – hence why this is the focus of the post, not the US. While Europe tries to figure out how it can use the ECB as a lender of last resort, the current credit issues are likely to have some impact on the New Zealand economy. …
Permanent link to this article: http://www.tvhe.co.nz/2011/08/09/what-to-watch-for-during-the-debt-crisis/
Apr 21 2011
Financial stability, the crisis, and counterfactuals
In an interesting post on macro-blog, two things are mentioned towards the end: Specifically, the pre-2008 consensus argued that monetary policy should follow a ‘rule’ based only on output gaps and inflation, but a few dissenters thought that credit aggregates deserved to be watched carefully and incorporated into monetary policy. The influence of the credit …
Permanent link to this article: http://www.tvhe.co.nz/2011/04/21/financial-stability-the-crisis-and-counterfactuals/
Apr 07 2011
Quote of the day: An excellent conclusion on trade
This is a point we all need to remember. Even when the benefits outweigh the costs, the tabulation of gains and losses by groups highlights the facts that international trade has distributional consequences. That realization should not induce policymakers to hinder trade via protectionist measures. Rather it reminds us that transfers from gainers to losers …
Permanent link to this article: http://www.tvhe.co.nz/2011/04/07/quote-of-the-day-an-excellent-conclusion-on-trade/
Apr 05 2011
Looking at the wrong place on inequality
Via Bernard Hickey’s Twitter feed I saw the following from the IMF: But this globalisation had a dark side — a large and growing chasm between rich and poor. While trade globalisation is associated with lower inequality, financial globalisation — the big story of recent years — increased it. Even ignoring other important policy elements, …
Permanent link to this article: http://www.tvhe.co.nz/2011/04/05/looking-at-the-wrong-place-on-inequality/
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