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Well of course it is, a recession is a typical part of a business cycle and we need one to help our economy achieve some balance. Now that I have provided my conclusion, let me meat it out a little bit. By recession I am thinking that NZ is going to have a growth recession […]
One of my favourite development economists, Daron Acemoglu, has a new paper out. Acemoglu is generally of the view that a country’s level of wealth can be traced back to the country’s institutional development. In a fascinating earlier paper he argued that the institutions set up by European colonists are a major predictor of the […]