101
25 years ago, Michael Kremer and I wrote a paper on ``Disorganization'', arguing that the collapse in output in Central and Eastern Europe was largely due to disruptions of supply chains. This seems fairly relevant today. bit.ly/3cofhFq
102
Le Grand debat: Une augmentation des depenses de 1% du PIB pour addresser les problemes les plus criants d'inegalite, d'investissement public, financee par la dette, ferait augmenter la dette de 0.5% du PIB, et les paiements d'interet de 0.005% du PIB. A serieusement considerer.
103
Best analysis of costs of sanctions for Russia versus EU I have read so far, and clear policy conclusions. twitter.com/lugaricano/sta…
104
An interesting, sociological, issue. How fast will the emerging academic consensus on fiscal policy filter through to policy makers? twitter.com/pisaniferry/st…
105
On macro, the need to simplify, and agent based models, reread the one paragraph novel by Jorge Luis Borges, bit.ly/2t2sbWO
106
Not unexpectedly, a great summary of Mundell's contributions and contradictions, by Paul Krugman
voxeu.org/article/mundel…
107
For those who follow Italy closely. An in-depth analysis of the likely effects of the fiscal expansion, and an assessment of debt sustainability: piie.com/publications/p… .
108
1. Looking for a research assistant, part time or full time, to help Jean Pisani Ferry (@pisaniferry) and me on research projects.
Location: Paris or DC.
Timing: Starting in the fall
Duration: At least a year.
Required skills:
109
Must read. Many great contributions. If you do not have the time to read the 200 pages, read the great intro by Beatrice Weber di Mauro and Richard Baldwin. twitter.com/BaldwinRE/stat…
110
Dani Rodrik's and my conclusions form the conference on inequality we organized in October. Governments have the tools to combat inequality if they want to. bit.ly/2D4fcpZ
111
r<g and ZLB together require major rethinking of the role of fiscal policy. Some thoughts as a book on Rethinking macro which I edited with Larry Summers is coming out at MIT Press. bit.ly/30g8De1 (the book: bit.ly/2LG8Nbp) @PIIE @LHSummers
112
The last thing the world needs at this juncture is another euro crisis. The ECB should and can avoid it.
113
A potentially important paper rb.gy/h4uxie
(at a great Brookings conference yesterday rb.gy/qzwlhd
Basic message: Even starting from the very worrisome position the US is today, the use of masks and moderate testing might keep us out of the woods.
114
Should we be worried about an Italian economic crisis? Yes. bit.ly/2LqXqAd
115
I did not leak, but am not too unhappy that it did leak :). 7 years already, and still no clear/realistic plan. twitter.com/TrineeshB/stat…
116
A great new site from PIIE on globalization and its consequences. Facts, history, graphs. Tackling the hard questions. Worth a long visit. @PIIE piie.com/globalization
117
A new and creative definition of currency manipulation by the US administration: Not intervening to prevent market movements. Orwell...
118
How much of the the slowdown in the recovery is due to the fact that some sectors, while recovering, still face tight supply constraints and low relative demand, or that, because of uncertainty, overall demand is weak. What to do with macro policy depends crucially on the answer.
119
Taking again the risk of discussing an MMT proposition, and fully expecting to be told that I have not understood….
One of the propositions of MMT is that, in contrast to standard mainstream arguments, government spending is automatically financed by money creation.
120
People have been told to hanker down for a few weeks, until the infection is under control. After this, they are led to believe, we shall emerge from isolation, and things will slowly return to normal. I am not so sure; this report, bit.ly/2Uf7hhr reinforces my worries.
121
Everything you wanted to know about the evolution of income, wealth, social, health, inequality in the US and in Europe in the 10 minutes video of Lucas Chancel presentation at the PIIE conference on combating inequality bit.ly/31P0n4g
122
My views on the Phillips curve puzzles and non puzzles. And the implication for wage inflation targeting. (from a discussion at Brookings)
bit.ly/319lCO1
123
Some thoughts on the French ``yellow jackets'' and the (current) failure of representative democracy. bit.ly/2FUAuKR
124
In one slide: The essence of our argument (with @jzettelmeyer and @AlvaroISLM ) for why the EU should move from fiscal rules to fiscal standards.
The long version: bit.ly/3knhzId. And the full video: economic-policy.org/fiscal-standar…
125
A wide ranging discussion about public debt between Ken Rogoff and me, moderated by Gita Gopinath. More convergence than divergence. I learned a lot from it. (the video lasts about an hour. Starts at minute 4.50 ) twitter.com/IMFLive/status…
Robert Solow Professor of economics emeritus, MIT
Fred Bergsten Senior Fellow, Peterson Institute for International Economics