Econoblog
“Liquidity is not the issue”
The logical conclusion from Sir Mervyn King’s reasoning is that this new UK liquidity push will be just as useless as that of the European Central Bank.I suspect this is indeed what the Governor really believes, and that he has been forced into the so-called “funding for lending” operation by a desperate Treasury.
By Ben Chu | Eagle Eye, Econoblog | Friday, 15 June 2012 at 11:05 am
The British economy: an international comparison
Strange that the eurozone crisis should be “killing” the UK recovery, as the Chancellor puts it, while leaving the major economies that are actually members of the single currency relatively unscathed.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 13 June 2012 at 1:02 pm
Why rich pensioners’ benefits SHOULD be scrapped
The usually impeccable reasoning of Jonathan Portes of the NIESR doesn’t wash here. It makes no more sense to say that means-testing Winter Fuel Payments must imply means-testing of the Basic State Pension, than it does to argue that the universal Basic State Pension implies that the Pension Credit top up benefit must be made universal, at impossible expense.
By Ian Mulheirn | Eagle Eye, Econoblog, Opinion | Wednesday, 13 June 2012 at 11:33 am
More European confusion for the markets
Herman Van Rompuy’s adviser went on one of the UK’s premier news programmes last night and managed to mislead the financial markets and the public not once, but twice.
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 12 June 2012 at 11:11 am
Is the eurozone killing the UK recovery?
The Coalition might argue that our exporters would have made even more of a contribution if the Europeans had sorted things out. But on the Office for Budget Responsibility’s forecasts, trade has actually come in better than expected.
By Ben Chu | Eagle Eye, Econoblog | Monday, 11 June 2012 at 1:10 pm
Why pick on rich pensioners’ bus passes?
If there is a view that there should be no universal benefits for pensioners, so we stop “wasting taxpayers’ money” on the rich ones, then that is a perfectly consistent and logical position. But its main target should be the basic state pension.
By Jonathan Portes | Eagle Eye, Econoblog | Sunday, 10 June 2012 at 1:07 pm
David Cameron did the right thing
Let’s imagine that the Fiscal Compact was up and running and that Britain had signed up. That would mean that the Government would technically be liable for big fines for failing to hit those Commission mandated targets. And if it wanted to avoid those fines it might have had to tighen fiscal policy further, by about 0.5% of GDP per year (or around £7.5bn)
By Ben Chu | Eagle Eye, Econoblog | Thursday, 31 May 2012 at 12:10 pm
Krugman: the full transcript
For those of a Keynesian persuasion, Paul Krugman’s visit to Britain this week is more exciting than the Diamond Jubilee and the Olympics put together. My interview with the economics Nobel laureate for the Indy can be found here. But for those of a wonkish nature who would like to hear Krugman’s views on subjects such as NGDP targeting and the Phillips Curve the full transcript is below.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 30 May 2012 at 9:36 pm
European solidarity: not dead yet
Perhaps because all things European tend to be unpopular here in Britain, we generally assume that Germany won’t be willing to pay the bill for the survival of the single currency. It might not. But, the latest Pew poll suggests we shouldn’t be so sure.
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 29 May 2012 at 6:25 pm
Does devaluation really provide economic stimulus?
What’s going on? Why haven’t UK exports surged on the back of a weak pound as most economists expected they would?
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 29 May 2012 at 11:57 am
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