Reading List: Behind the ECB’s Wall of Money

18th January 2012

The Economics of the Great Gatsby Curve

Miles Corak responds to an article written by Scott Winship in which he questions the idea that greater inequality at a point in time is associated with less generational mobility over time – what Alan Krueger, called the "Great Gatsby Curve." Economics for public policy

 

Filling a hole or priming the pump?

"All you Keynesians are bending over backward trying to make stimulus all about countering a shock to Aggregate Demand, when actually you have a mental model of an economy riddled with coordination failures and multiple equilibria." Who knew that neoclassical economists had something perspicacious to add to the stimulus debate? Noahpinion

 

Deficits are good during a balance sheet recession

He's had it right all along. Deficits are good during a balance sheet says Richard Koo: "This (austerity) is akin to a doctor telling a patient suffering from pneumonia to go on a diet and get more exercise. While exercise is important, it assumes a healthy patient. If the patient is sick, he must build up his strength until he is physically capable of exercising again. Pragmatic Capitalism

 

Behind the ECB's Wall of Money

The "wall of money" that the ECB unleashed to markets just before Christmas will have a huge influence on Europe's economy, and an even larger impact on its politics. According to Benedicta Marzinotto, this approach to ending the eurozone's sovereign-debt might work, "but it could also destroy the single market." Project Syndicate

 

An Ignored 'Disparity'

With all the talk about "disparities" in innumerable contexts, there is one very important disparity that gets remarkably little attention – disparities in the ability to create wealth. Creators

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