Monthly Archives: February 2013

Prospects for the world economy

We are living in interesting times. And for many these times are not just interesting but are also dismal. With pessimists predicting that there may be a ‘lost decade’ or two for the global economy. The implication is that there … Continue reading

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More quantitative easing is not the answer to stagnation

Read on the Guardian’s website

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The Great Divergence: the State of the Regions in the UK

The UK economy is geographically fractured with areas of prosperity and areas of deprivation. Nick Clegg will tell the City of London (some irony there) that the UK economy needs major rebalancing to shift its focus away from London. And he is … Continue reading

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Where are the exports going to come from? Confusion at the Bank of England

The British economy is severely demand constrained: consumers and businesses are not spending as they rebuild their balance sheets and Government is trying (and failing) to reduce the fiscal deficit. So can we rely on the rest of the world … Continue reading

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More unfounded optimism from the Bank of England?

The Bank of England has produced its latest inflation report and the Governor, Sir Mervyn King, believes that there is “grounds for optimism”.  The problem with this is that the Bank has been consistently overoptimistic about the prospects for inflation … Continue reading

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Dr Carney and the UK economy

There has been lot of fanfare about the appointment of Mark Carney as the next Governor of the Bank of England.  Apparently he is the Lionel Messi of central bankers who will transform the state of the British economy.  He … Continue reading

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The Benefits of a Plan B: Lessons from the Interwar Period

A reoccurring refrain in British political discourse is that there are few if any options in the conduct of economic policy.  In the 1980s, Mrs Thatcher proclaimed that ‘there is no alternative’; more recently, the Chancellor of the Exchequer, George … Continue reading

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