Today we are fortunate to have a guest contribution written by Timothy Bian (University of International Business and Economics, China) and Pedro Gete (Georgetown University).
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Monthly Archives: January 2015
IMF World Economic Outlook Update
From the IMF:
Global growth will receive a boost from lower oil prices, which reflect to an important extent higher supply. But this boost is projected to be more than offset by negative factors, including investment weakness as adjustment to diminished expectations about medium-term growth continues in many advanced and emerging market economies.
Switzerland drops its currency peg
The Swiss National Bank stunned markets on Thursday with an abrupt decision to abandon its commitment since 2011 to hold the Swiss franc at 1.20 francs/euro, as a result of which the franc appreciated almost 20% within the space of a few minutes.
“Inflation’s Looming Shadow”
Paul Ryan in October 2009 writes:
“One of my key concerns is on the inflation front….”
Hottest on Record
Global temperatures in 2014, that is.
The SNB Removes the Cap
Commenting on what has been termed “Francogeddon” and a “tsunami” as well as consequent mayhem, Joe Weisenthal at Bloomberg/Business Week writes:
“Today the Swiss National Bank shocked the world when it announced it would remove the cap it had in place to prevent the Swiss franc from rising too high against the euro.”
I Agree with Ed Lazear (and Alan Auerbach)!
If you dynamic score, dynamically score both expenditure and revenue measures.
Global Economic Prospects on Fiscal Policy, Oil Prices, and the Trade Slowdown
Update: The World Bank’s forecasts are also now out, summarized here. Russia is forecasted to hurtle into a deep recession.
Two chapters from the World Bank’s Global Economic Prospects are out.
The December Employment Release
The JEC Chair Brady (R) writes: “While the unemployment rate has fallen it doesn’t tell the true story about stagnant paychecks and Americans struggling to find full-time work.” He then calls for passage of Keystone-XL as part of the remedy.
Demand factors in the collapse of oil prices
The price of oil passed another milestone last week, falling below $50 a barrel, a level that I had not expected to see again in my lifetime.