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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Å Ä Ö
Article 123 of the Treaty of Lisbon
60+ - Who will buy their shares?
1907
1925
1929
- David Stockman about 1929
1937
Det är möjligt att den västerländska civilisationen nådde sin höjdpunkt 1965
1995 - dollar yen
1968
1974 (recession, stagflation)
2010
90 per cent
"ninety percent of everything is crap."
Sturgeon's Law
Accelratorn - Varför är den bortglömd? Det var Basics, vill jag minnas.
Paul Krugman via Rolf Englund blog 21 maj 2014
Akvedukten vid Zaghouan, Klicka här
Ambrose via The Marker Monetarist
Anne Applebaum
Plus ca change, plus c'est la meme chose:
One of the most remarkable characteristics of the European Union is the ability of its leaders to keep building their institutions and expanding their power,
self-righteously ignoring whatever obstacles European voters throw in their path.
Anne Applebaum Washington Post 2/6 2005</P>
The European Union itself has made terrible decisions in recent years,
including the creation of a currency union that devastated the economies of several of its members.
Anne Applebaum, Washington Post, May 31, 2014
Ansvarskultur i svensk politik
Arbetslöshet
Arbetslöshetens orsaker
- SvD, Keynes,
m fl
Altman
Argentina
- President Cristina Fernández of Argentina has raised the prospect of a sovereign default
Arkelsten, Sofia
Vi Moderater fortsätter att utvecklas för att fortfarande vara relevanta i en ständigt föränderlig samtid.
Vi är i grunden positiva till en gemensam valuta inom EU. Men...
Article 123 of the Treaty of Lisbon
As long as the music is playing
Asienkrisen
atillzold
Austrian banks
Avskrivningar i Brf
Australia
Austerity
The great austerity debate
- Hungary, Greece, Ambrose
Baby-boomers and their pensions
Bailout
- Bailout of Greece was a bailout of banks
- - BBC's business editor Robert Peston, 16 July 2010
Savings and Loans Bailout
Baltikum
Sheila Bair,chairman of the Federal Deposit Insurance Corporation from 2006 to 2011
Bankunion
Euroländerna grälar vidare om bankunionen
EU:s bankunion har ingen backstop.
Backstop? De är en Lender of Last resort, helt enkelt.
Rolf Englund blog 24 mars 2014
Bankinspektioner
- Bankinspektioner Federal Deposit Insurance Corp FDIC
- Bankinspektionen Sverige 90-talet
Banks
Bankernas utlandsupplåning
- Bear Stearns
James Barr
Basel
- Barroso,first step towards a banking union, it is the start of something much bigger
Viktigt! Bankunionen kuppas igenom Rolf Englund blog 31 augusti 2012
Hans Bergström
- - Hans Bergström om Bengt Dennis bok, Englund om
- - Hans Bergström om finanskrisen och EMU
Bergström, Villy Dala-Demokraten
Bergquist, Christer
Bernanke, Benjamin
- - Bernanke’s Sophie's Choice, - The housing market or stock market
Carl Bildt
- Bildt, Carl
Reporter: - Moderatledaren Carl Bildt, vågar du utesluta en devalvering om de borgerliga skulle vinna -91 års val?
Carl Bildt, partiledare (m): - Ja, det gör jag.
Reporter: - Men kan inte spekulanter tvinga fram en devalvering som en regering inte vill ha?
Carl Bildt: - Ingenting kan uteslutas, men jag tror inte det. Är man tillräckligt fast - men då måste man vara mycket fast - så kan man stå emot också en spekulationsvåg.
- Bildt, Carl om USA som föredöme för EU
Marshall-hjälpen och nästa svenska devalvering,
Mycket förtroligt Eyes Only, Sänt till Carl Bildt 90-11-02, Utlagt på Internet 96-10-29
Rolf Englund
Borio, head economist at the Bank of International Settlements
Borio, head economist at the Bank of International Settlements
Bromma/Ålsten
Budgetunderskottet
Bunkergänget
Brüning (Tysklands Carl Bildt)
Buiter
- Larry Summers has argued that the short-term real interest rate consistent with full employment
fell to minus 2 or 3 per cent sometime in the middle of the last decade, Willem Buiter, Financial Times December 2013
- Greece may be the first major country in the European Union to default on its debts, 2009
- sovereign default in today’s advanced economies “unnecessary, undesirable and unlikely", 2010
- Germany would not be able to join the Euro Area (EA) today, because it would fail to meet the deficit criterion
- Investors should shun U.S. government bonds, former Bank of England policy maker Willem Buiter, 2009
- The Fed did not see the crisis coming. The list of dogs that did not bark is a long and distinguished one. 2009
- "promising to pay nothing forever", Balance sheet, leverage, 2013
Bytesbalans, Sverige, Tyskland och Kina
Befolkningsutvecklingen i världen
Burenstam Linder,
Staffan
Bäckström, Urban
Calmfors, Lars
Cameron
Canada
Canary
Capitalism, The financial crisis is not the crisis of " Sarkozy
Cantillon, Richard
CAPE
is calculated by taking the S&P 500 and dividing it by the average of ten years worth of earnings.
If the ratio is above the long-term average of around 16x, the stock market is considered expensive.
CAPE
Gustav Cassel
As far as I can find, almost no one in the profession – not even luminaries like John Maynard Keynes, Friedrich Hayek, or Irving Fisher – made public statements anticipating the Great Depression.
As the historian Douglas Irwin has documented, a major exception was the Swedish economist Gustav Cassel.
Robert J. Shiller, Project Syndicate 15 January 2015
Continental Illinois - The first bank that was declared “too big to fail”, received a bailout in 1984 from President Ronald Reagan.
Cui bono?
- Cui bono? The banks, of course.
- Riksbankens erbjudande att låna ut 500 miljarder kronor till de svenska storbankerna mottogs med stort intresse, Leif Petersen E24
- Where are all these increased profits coming from? Baltin
- They are now borrowing at very low rates, subsidised by the government, Tracy Corrigan
D-Mark
Dala-Demokraten, Bergström, Villy
Dancing until Music stops
Sri-Kumar warned "The music will stop, and not everyone will have a seat."
The Stock Market's Da Vinci Code, The Plunge Protection Team, Jonathan Moreland
Deleveraging
Satyajit Das
Investors assume that the global financial crisis is now ancient history and normality has returned.
But while financial markets are buoyant, the real economy remains moribund, stuck in a “secular stagnation” of low, volatile growth,
high and rising debt, slow investment, overcapacity, high unemployment, low income growth and negative real interest rates.
Satyajit Das, MarketWatch, Dec. 12, 2013
When I read last week’s revision in the International Monetary Fund’s forecasts, I was reminded of William Gilmore Simms, a 19th century US historian, who said:
“I believe that economists put decimal points in their forecasts to show that they have a sense of humour.”
Wolfgang Münchau, July 2014
Democracy - The basic needs are true citizens, honest guardians, proper markets and just laws Martin Wolf
Dennis, Bengt
Dentists, economist as, Keynes
Deposit insurance
Derivates
Devalveringen 1982
Deutsche Bank
Dollar USD
Doom
Economic theory discredited
Oldest first - Latest here
- Economics may be dismal, but it is not a science, John Kay
Time to stop this pretence – economics is not science
Economics is a study of human behaviour – above all, the allocation of scarce resources between competing ends.
It requires the analysis of economic, commercial and financial life in all its institutional richness, or it is nothing.
A solid grounding in theory and numeracy is essential but so, too, are broad dashes of politics, history, sociology and common sense.
Liam Halligan, 19 Oct 2013
Recent “Nobel” recipients have been rewarded, instead, for work that claims to have established “certainties”, made “findings” and discovered “relationships” – all of which, when it comes to economics, is bunkum...
- Her Majesty The Queen of England: "If these things were so large, how come everyone missed them?", Chris Giles, FT
- Inspiring words from preface of Laurence J. Kotlikoff, Jimmy Stewart is dead
- easy to mock economic theory, Philip Ball,consultant editor of Nature
- Despair over the state of the economics profession, Paul Krugman, July 18
- Det finns inte några framträdande ekonomer som kan ge besked, Danne Nordling 11 juni
- Dagens globala finanskris har utlöst en kris för ämnet nationalekonomi, Lars Jonung
- Robert Lucas rebuts criticisms that the financial crisis represents a failure of economics, The Economist
- The initial response to the crisis (sharp cuts in interest rates, bank bailouts, stimulus spending) probably averted a depression. But the crisis has also battered the logic of all major theories: Keynesianism, monetarism and "rational expectations." Robert J. Samuelson
- competing schools of macro policy, Underbelly July 22, 2010
- One might not expect much from economists, but one would surely expect them to warn us of a crisis on this scale, Martin Wolf
Why were resources expunged from neo-classical economics?, Martin Wolf
- The vanity of economists needs to be challenged, Gideon Rachman
- Are most economists naive? Tim Iacono June 11, 2007
- Är Diamond, Mortensen och Pissarides värda Nobelpriset?
Men transaktionskostnader läste jag om på universitetet redan på på 1960-talet.
Rolf Englund blog 2010-10-11
- “Economics is a science of fashions – Keynes and ‘pump-priming’ at one time, Friedman and monetarism at another,” Mandelbrot
- Is the discipline of economics succumbing, Gillian Tett
- How to become better macroeconomists: Leijonhufvud’s new Policy Insight, Richard Baldwin
- As a profession we have failed miserably at our primary function – the efficient and productive allocation of capital, Bill Gross
- Although many answers have been given to Her Majesty’s question, I suspect that none of them has really settled the issue. Her question is disarmingly simple, but the answer is not. Gavyn Davies
- Heaven knows what future disasters they will spring on us, Roger Bootle
A devastating indictment. J. Bradford DeLong
Nothing has done more to discredit serious economic analysis than its identification with the guesses about output, employment, prices and so on, Samuel Brittan
Friedman and Keynes have met their Waterloo in a housing depression that shows few signs of recovery,
a financial crisis that has suppressed growth and a looming debt crisis in Europe and the U.S. Howard Gold
Critics from Queen Elizabeth II downwards have posed one uncomfortable yet highly pertinent question: are economists of any use at all? John Kay
Nationalekonomi i kris. Claes Lönegård, Fokus, 16 september 2011
Nationalekonomin är inte i kris Danne Nordling 19 sept 2011
I really wonder about the state of economics education, Paul Krugman on Ireland
The ongoing discussions of economic policy and principles since the Great Recession, Federal Reserve presidents, economists with Ph.D.s
propounding views that I thought were obvious fallacies Paul Krugman
Some economists are so concerned about the present rapid rise in government debt.. Others are so concerned about the risk of renewed recession,
Gavyn Davies
Economists And Post-Crisis Policy (Also Ireland), Paul Krugman
Coppola about The necessary arrogance of elites
Finanskrisen var ett misslyckande för ekonomprofessionen, Calmfors, 21 augusti 2012
"The established theory has collapsed but we haven't actually got a proper understanding of how financial markets operate." Soros Davos 2013
Monetary policy meant to stabilise inflation. It has failed. Martin Wolf February 7, 2013
”Läroböckerna måste skrivas om” - Staffan Sonning har besökt ekonomen Klas Eklund GMV 10 februari 2013
Long-term side-effects of interest rates close to zero,
central bankers conceded they were flying blind when steering their economies.
Lorenzo Bini Smaghi, the former member of the ECB’s executive board:
“We don’t fully understand what is happening in advanced economies.”
Financial Times, April 17, 2013
Harvard economists, Carmen Reinhart and Kenneth Rogoff
Did an Excel coding error destroy the economies of the Western world?
Paul Krugman, New York Times, April 18, 2013
More than five years after the onset of the financial crisis,
you might have thought economic policy makers would know what to do next, BBC 21 April 2013
"Central bankers say they are flying blind", "Uncharted territory", "No one fully understands"... Maj 2013
About economists in general, and the failure of economics the discipline specifically. Barry Ritholtz, August 6th, 2013
It’s easy to understand why economics might be mistaken for science.
The trouble with economics is that it lacks the most important of science’s characteristics
— a record of improvement in predictive range and accuracy.
Rosenberg and Curtain, New York Times, 2013
Är de finansiella marknaderna effektiva? Ja, svarar Eugene Fama. Nej, svarar Robert Shiller.
På måndagen tilldelades båda, tillsammans med Lars Peter Hansen ekonomipriset.
Tillspetsat kan sägas att Eugene Fama är fader till teorin om effektiva marknader och Robert Shiller fader till teorin om ineffektiva marknader.
Viktor Munkhammar, DI, 14 oktober 2013
Att samma år ge fysikpriset till två forskare vars upptäckter tycks tala rakt emot varandra känns inte alltför sannolikt.
Men i ekonomi går det alltså utmärkt. Hur är det möjligt?
Andreas Cervenka, SvD Näringsliv 14 oktober 2013
If anyone ever doubted that the Nobel Prize for Economics was a farce, Monday’s announcement of the latest winners should put the matter to rest.
Fama questions whether “bubbles” exist. Shiller says they are common, and easy to see.
MarketWatch 15 oktober
Time to stop this pretence – economics is not science
Economics is a study of human behaviour – above all, the allocation of scarce resources between competing ends.
It requires the analysis of economic, commercial and financial life in all its institutional richness, or it is nothing.
A solid grounding in theory and numeracy is essential but so, too, are broad dashes of politics, history, sociology and common sense.
Liam Halligan, 19 Oct 2013
– I am one of the winners of this year’s Nobel Memorial Prize in Economic Sciences,
which makes me acutely aware of criticism of the prize by those who claim that economics
– unlike chemistry, physics, or medicine, for which Nobel Prizes are also awarded –
is not a science. Are they right?, Robert J. Shiller, November 2013
A new economics
The failure of the dismal science to predict and explain the worst financial crash since the Depression has understandably prompted some reflection among the more thoughtful ranks of academics.
Financial Times editorial, November 12, 2013
The field of economics is desperately in need of a paradigm shift if it wants to play a role in improving the lot of humanity.
Consider, for example, the concept that still underpins most mathematical models of the economy:
that firms and individuals have “rational expectations,”, Mark Buchanan, Bloomberg Dec 2013
The large drop in inflation last year elsewhere in the world may only be a lagged response to earlier economic weakness but,
if that is so obvious now, why was it that no one managed to forecast the drop a year ago?
Stephen King, Financial Times 13 January 2014
The Dismal Art
Economic forecasting has become much more sophisticated in the decades since its invention.
So why are we still so bad at it?
James Surowiecki, Democracyjournal 2014
Why, at the moment it was most needed and could have done the most good, did economics fail? Paul Krugman, May 2014
"Battle raging between the world’s leading macroeconomists" The debate is so fierce, the viewpoints so distinct,
BIS and IMF have completely different ideas, FT Money Supply blog July 2014
How to unwind the huge increase in Feds balance sheet with minimal impact.
It is not going to be easy, and it is not obvious exactly how to do it. Alan Greenspan July 2014
When I read last week’s revision in the International Monetary Fund’s forecasts, I was reminded of William Gilmore Simms, a 19th century US historian, who said:
“I believe that economists put decimal points in their forecasts to show that they have a sense of humour.”
Wolfgang Münchau, July 2014
A specter is haunting dismal scientists,
an economic nightmare with an ugly name. It’s secular stagnation
Bloomberg 22 October 2014
Bostadsbubbla i Sverige?, Det är ju väldigt svårt att veta. Lars Calmfors november 2014
In about 1980, there was a big change in the way academic economists did macroeconomics.
Since 2009, there has been a big debate in the economics blogosphere about whether academic econ took a wrong turn when it switched tactics
Noah Smith, Bloomberg, 12 December 2014
Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified.
The failure of all but a few professional economists to forecast the episode – the aftereffects of which still linger –
has led many to question whether the economics profession contributes anything significant to society.
If they were unable to foresee something so important to people’s wellbeing, what good are they?
Robert J. Shiller, Project Syndicate 15 January 2015
In Defense of Modern Macroeconomic Theory
Doyle: Global leaders of the economics profession should turn on the IMF in public.
via Rolf Englund blog 18 april 2015
Romer: a new trend in economics is polluting the discipline, names Robert Lucas
UNDERCOVER ECONOMIST Tim Harford, FT June 5, 2015
The modern financial animal is wont to assume that he or she lives in an age of science. Just peruse the economic research that the great central banks produce.
Even the titles of the papers are incomprehensible. The truth is we live in an age of pseudoscience.
James Grant, FT July 20, 2015
Rational expectations
Romer roots the sorry state of academic macroeconomics in a battle between Robert Lucas and Thomas Sargent
Martin Sandbu, FT 17 Augusti 2015
Economics is not the kind of science in which there could ever be one true model that works best in all contexts.
The point is not “to reach a consensus about which model is right,” as Romer puts it, but to figure out which model applies best in a given setting.
And doing that will always remain a craft, not a science, especially when the choice has to be made in real time.
Dani Rodrik, Project Syndicate SEP 10, 2015
The charges – including hubris, neglect of social goals beyond incomes, excessive attention to formal techniques, and failure to predict major economic developments such as financial crises – have usually come from outsiders, or from a heterodox fringe. But lately it seems that even the field’s leaders are unhappy.
Economists used to pretty much ignore the financial sector altogether.
It was a black box that simply turned S (saving) into I (investment),
and did so efficiently, and there was no need to get into the details.
Economist's View, 2 February 2016
“I guess we can’t call it the dismal science anymore,” Mauldin
Rolf Englund blog 14 Febr 2016
5 worst investment calls of this century
Now, despite evidence that the world economy is near to another recession, a similar survey shows that
not one of the 40 leading economists believes there will be a US downturn this year.
Ruchir Sharma, FT February 29, 2016
Why I am reading Stockman and Varoufakis
Englund blog 26 March 2016
I would start with a fundamental reappraisal of modern macroeconomic governance
— from independent central banks and inflation targeting to deregulated financial markets and fiscal policy targets.
Put simply, if we, the liberal establishment, fail to do this, the populists will do it for us.
These observations are mild compared with those of Paul Romer, chief economist of the World Bank,
Wolfgang Münchau, FT 18 December 2016
Economics seems incapable of answering the great questions of our time. Are we heading for deflation or inflation?
Jeremy Warner 4 January 2017
The inability of the world’s major central banks to create either inflation or stronger demand growth has sustained
a needed debate over whether the way monetary policy is conducted in most rich countries is ripe for reform.
Martin Sandbu, FT 4 January 2017
What Nassim Taleb Can Teach Us
“I am as orthodox neoclassical economist as they make them, not a fringe heterodox or something.
I do not like models that work on someone's computer but not in reality. This is standard economics.”
zerohedge 3 May 2017, Authored by Jeff Deist via The Mises Institute
Ten years after Lehman collapse few lessons have been heeded
Rating agencies still wield huge influence and investment executives remain unaccountable
To be clear, nobody expects economic models to predict crises, future prices and recessions with total accuracy.
But at least they should be able to explain the basic functioning of the economy.
Arturo Cifuentes FT 22 August 2018
Start of Economic theory discredited
Populism and immigration
The financial crisis and consequent economic shocks not only had huge costs.
They also damaged confidence in — and so the legitimacy of — financial and policymaking elites.
These emperors turned out to be naked.
Martin Wolf FT 27 June 2017
Bookstaber
As Queen ELIZABETH II famously once pointed out, most economists failed to predict the crisis of 2007-08.
In a lecture to the American Economic Association in 2003, Robert Lucas argued that macroeconomics had succeeded
in so far as the “central problem of depression prevention has been solved, for all practical purposes”.
Yet within five years the world faced its worst crisis since the 1930s.
The Economist Print 18 May 2017
Mr Draghi gave a brutally honest account of central bank failings before the Lehman crisis,
admitting that the orthodoxies of the day bore little relation to reality on the ground.
There was too much trust in the dogma of “rational expectations” and a chronic neglect of how capital markets really work.
Mario Draghi speaking at a forum of Nobel Prize economists at Lake Constance, Ambrose Evans-Pritchard, Telegraph 23 August 2017
“There was a notable absence of a role for banking and finance in these models.
The pre-crisis paradigm in macroeconomics predicted neither the onset nor the severity of the crisis in any meaningful fashion.
Unconditional trust in the self-repairing capacities of financial markets, or simple neglect, had led to lax supervision in the years preceding the crisis,” he said.
Mario Draghi speaking at a forum of Nobel Prize economists at Lake Constance, at ECB
Lots of people were supposed to prevent the financial crisis.
But while a few warned about the dangers in real time, most policymakers, risk managers, and academics failed in their responsibility to protect the rest of us.
Matthew C Klein, FT 13 September 2017
Central bankers face a crisis of confidence as models fail
inflation is not behaving in the way economic models predicted
FT 11 October 2017
Bolder rethinking needed on macroeconomic policy
Top economists need to dig deeper after policy failures of past decade
Martin Sandbu, FT 16 October 2017
Central bankers have one job and they don’t know how to do it
Matthew C Klein, FT Alphaville 18 Octobr 2017
Major shocks like Lehman are more like an asteroid impact or a major earthquake.
They permanently change the economic landscape.
Among the most damaged life forms in this particular pond are macroeconomists.
Frances Coppola - October 12, 2017
Favourable global economic prospects, particularly strong momentum in the euro area and in emerging markets led by China and India, continue to serve as a strong foundation for global financial stability.”
This statement opened the International Monetary Fund’s April 2007 Global Financial Stability Report.
Since this benign view was published on the eve of the most devastating financial crisis in nearly eight decades, it has to be viewed, in hindsight, as a spectacular misjudgment.
Martin Wolf, about IMF Global Financial Stability Report, FT 24 October 2017
FT Series Financial crisis anniversary
Heretics welcome! Economics needs a new Reformation
Steve Keen was one of the economists who knew there was big trouble brewing in the years leading up to the financial crisis of a decade ago but whose warnings were ignored.
Larry Elliott, the Guardian's economics editor, 17 December 2017
Krugman essay
How Economics Survived the Economic Crisis
Unlike the Great Depression of the 1930s, which produced Keynesian economics, and the stagflation of the 1970s, which gave rise to Milton Friedman's monetarism, the Great Recession has elicited no such response from the economics profession. Why?
Robert Skidelsky, Project Syndicate, 18 January 2018
DSGE macroeconomics does not really allow for the large-scale financial panic we saw in 2008,
nor for some of the main contending explanations for the slow recovery and a level of economic activity that remains far below the pre-crisis trend.
Martin Sandbu, FT 19 January 2018
In particular, there should be room for formalised theories in which the economy is subject to multiple equilibria — what could be called paleo-Keynesian views — which show how both large crises and protracted periods of stagnation are possible.
Bad macroeconomics is rooted in bad microeconomics
Martin Sandbu, FT January 18, 2018
The glaring failure, obvious to everyone from the British Queen to any new economics student, was of course the profession’s failure to spot the financial crisis and its struggle to grasp the nature of the fallout.
DSGE model typically treats financial markets and forward-looking rationality among decision makers: “In such a model, the efficient markets hypothesis means that things can never go seriously wrong because of a risk premium [between the central bank’s interest rate and companies’ actual cost of funds], and the rational expectations assumption [and its implication that an economy will eventually re-converge] means that there can never be a really serious crisis.”
Joseph Stiglitz relentlessly lists flawed microeconomic building blocks of standard DSGE, including “(a) the theory of consumption; (b) the theory of expectations?.?.?.?(c) the theory of investment; (d) the use of the representative agent model?.?.?.? (e) the theory of financial markets and money; (f) aggregation — excessive aggregation hides much that is of first order macroeconomic significance; (g) shocks — the sources of perturbation to the economy; and (h) the theory of adjustment to shocks”.
What macroeconomists actually do
Problems can be traced back to two intellectual revolutions
Martin Sandbu 16 January 2018
Keynes in the 1930s was a theory of the economic system in which everything depends on everything else...
Without this move it was impossible even to conceptualise the notion of a shortfall in aggregate demand as a cause of unemployment.
Lucas critique, was that models must involve private decision makers doing the best they could according to their own interest in light of forward-looking expectations
In a scathing critique of the “microfoundations hegemony” Simon Wren-Lewiscomplains that “non-microfounded models [were] eventually excluded from the top journals”, with implications for the prestige, career advancement, and funding for researchers using other kinds of analysis.
Rethinking macroeconomics
The deepest effort to date to account for how economics failed us in the crisis
Martin Sandbu 15 January 2018
Oxford Review of Economic Policy contains an excellent introduction to the project by its conveners, David Vines and Samuel Wills.
Readers short on time but rich on interest will be well served by reading only this article.
It sets out the project and summarises the discussion and answers offered by the included writers.
What’s the use of economics?
voxeu.org/debates/what-s-use-economics
Rethinking macroeconomics
In January 2018, a group of economists convened by Oxford published
their reply to Queen Elizabeth’s question of why nobody in the profession saw the 2008 crisis coming
FT Collections
---
When the Queen asked asked an academic at the LSE why the economics profession had failed to predict the credit crunch, she raised a topic which continues to resonate.
Although many answers have been given to Her Majesty’s question, I suspect that none of them has really settled the issue.
Her question is disarmingly simple, but the answer is not.
Gavyn Davies blog, February 10, 2011
Economics failed us before the global crisis
Analysis of macroeconomic theory suggests substantial ignorance of how economies work
Martin Wolf FT 20 March 2018
zc
Economists still lack a proper understanding of business cycles
The Economist 19 April 2018
Where consensus did prevail, it proved to be misguided. Economists of all ideological stripes cheered on the financial deregulation of the 1980s and 1990s. The work of thinkers like Hyman Minsky and Charles Kindleberger, whose writings on financial excess were rediscovered after the financial crisis, gathered dust.
In a speech in 2005 to central bankers, Raghuram Rajan, an academic who later ran India’s central bank, warned of the risks building within the financial system. He got a chilly reception.
Varoufakis: A balanced capitalist economy requires a magic number, in the form of the prevailing real (inflation-adjusted) interest rate.
How do free marketeers convince themselves that there exists a single real interest rate (say, 2%)
that would inspire investors to funnel all existing savings into productive investments
and spur employers to hire everyone who wishes to work at the prevailing wage?
Yanis Varoufakis Project Syndicate 19 March 2019
Economics is rightly in the midst of a re-think
Evan Davis, Presenter of Radio 4's PM programme and former Economics Editor of BBC News 22 May 2019
This list is to be continued
Start of Economic theory discredited
Edwards, Albert
Eftersläpningen, den påstådda svenska
Barry Eichengreen
- Fear unknown
Eiffel, tornet
The efficient-markets hypothesis
- The efficient-markets hypothesis
Karolina Ekholm: en gemensam valuta ett naturligt och nödvändigt steg för att realisera den gemensamma marknaden
Klas Eklund
- Eklund, Klas
- Klas Eklund om EMU
- Rolf Englund om Klas Eklund ”Vår ekonomi - En introduktion till samhällsekonomi” 20/10 2010
- "USA har ryckt
åt sig ett stort försprång och har världens mest framgångsrika ekonomi"
- I efterhand vet vi: Vi såg inte att det under den finansiella bubblan, Klas Eklund
ELA emergency liquidity
Eliasson, Gunnar
EMU, old page
England och EMU
Englund, Carl-Emil
"Englunds lag"
Enquist, P O om Kambodja
Erdman, Paul
Erixon, Lennart
Eskilsson, Sture
ETFs
Lissabon och EU-parlamentets växande makt
European Neighbourhood Policy (ENP)
Extraordinary Popular Delusions and the Madness of Crowds
Nigel Farage UKIP
Fannie Mae
Fastigheter, förluster på, i utlandet
Fastighetsskatten
- Waxholmsbåt
FEER (dollar)
Sheila Bair,chairman of the Federal Deposit Insurance Corporation from 2006 to 2011, FT 7 August 2014
Kjell-Olof Feldt
- Kjell-Olof Feldt
- Feldt januari 1990 om utlandsupplåning och bytesbalans
- Feldt om den antikapitalistiska agitationens
roll för arbetarrörelsens sociala funktion
- Feldt om Finansutskottets kritik, maj
1999
Feldstein, Martin
Ferm, Anders
Ferguson, Niall
Finanspolitiska Rådet
Tomas Fischer
- Tomas Fischer: Med Bildt mot Poltava
- och Aftonbladet 1991-12-22
Irving Fisher
- 1911 central banks should track asset prices
In October 1929
"stock prices have reached what looks like a permanently high plateau."
Click
“The decision to use the single currency to drive the European project forward was a risky one,
and at some stage or probably in several stages, it will be necessary to put the missing fiscal framework into place,”
Stanley Fischer, the vice-chairman of the Fed, FT 21 May 2015
Fores
FORES presenterar en antologi där några av Sveriges kunnigaste ekonomer beskriver bakgrunden till krisen
och hur eurons framtid kan komma att se ut.
Lars Calmfors, Harald Edquist, Nils Lundgren, Stefan de Vylder, Pehr Wissén, och Hans Tson Söderström, bokens redaktör
14 november 2013
Fortis
Jeffrey A. Frankel, Harvard
Frankrike
Fröberg, Peter, Idling
Fölster, Stefan
Stefan Fölster, HUI om EMU
Första världskriget
G7 and G8
Geheimplan
- Barroso,first step towards a banking union, it is the start of something much bigger
Viktigt! Bankunionen kuppas igenom Rolf Englund blog 31 augusti 2012
- "Nya steg på vägen mot en djupgående och verklig ekonomisk och monetär union"
- "Commission sets out next steps towards a deep and genuine Economic and Monetary Union", Brussels 2013
de Geer, Jonas om moderaterna och
konservatismen
Tim Geithner
- Stress Test: Reflections on Financial Crises, lunch with Martin Wolf
- Geithner's plan 2009
- Tim Geithner failed to foresee the crisis when he was Under Secretary of the Treasury for International Affairs(1998–2001) under Treasury Secretaries Bob Rubin and Larry Summers
or as President of the New York Fed (2003 - 2009),
The list of dogs that did not bark is a long and distinguished one, Willem Buiter, FT, July 17, 2009
General Motors
Georgien
Johan Gernandt
Gennser, Margit
Gilbert, Mark
Glass-Steagall Act
Globalisering, se Faktorprisutjämning
Wynne Godley, London Review of Books 8 October 1992
Goldilocks
Gorbatjov, Michail
Grant, James
www.grantspub.com/
Grantham, Jeremy
Paul De Grauwe
- www.voxeu.org/person/paul-de-grauwe
Strong Governments, Weak Banks, CEPS Policy Briefs, November 2013
- nejtillemu.com/lastresort.htm#defining
- "Without further steps towards political union, the eurozone has little chance of survival", 2007
- Nobody has taught me as much about the euro crisis as Paul De Grauwe, Paul Krugman
Martin Wolf: a brilliant 2011 article, “Managing a Fragile Eurozone”by Paul de Grauwe, Click
Greider, Göran, om Keynes
Greenspan, Alan
- Alan Greenspan memoirs: The Age of Turbulence
Great Moderation
Grekland
- Timeline
Dylan Grice
Gross, Bill, Pimco
Daniel Gross
Since the end of the credit boom in 2008, cross-border claims of banks based in the eurozone core toward the eurozone periphery have plummeted from about € 1.6 trillion to less than half that amount.
Nov. 6, 2013
The bubbles that built America, CNN May 15 2007
Daniel Gros at Project Syndicate
Grundlagen, ändringar i den svenska grundlagen
Grundig, vintage radios
Guld
Gustafson, Bengt
Gustafsson, Lars
Gür, Thomas
Habermas, Jürgen
Habsburg, Rome and the European Union
Hafström, Jonas
David Hale
Housing inflation is likely to be the big challenge confronting Ben Bernanke
The US housing market now has forms of mortgage lending that have not existed since the 1920s.
When residential real estate cools, personal savings will rise, consumption will slow, the economy's growth rate will drop to 2.5 per cent and the dollar will resume declining
David Hale, January 26, 2006
Handelsunderskott, USA
Handelsöverskott, Sverige
David Hannan
Hartz IV
Hanke, Steve
Harpsund, kräftor på, 1992
Hayek - om Keynes och 1925
Olof G. Hedengren
- Jan Wallander, styrelseordförande i Handelsbanken och den mest ondskefulle person jag någonsin mött i affärslivet.
Heder, sanning och rätt
Heikensten, Lars
"Fastighetspriserna sågs inte som ett problem"
Crisis in Sweden and Asia. One common factor is the fixed exchange rate.
In Sweden this led to high levels of foreign borrowing, particularly in the private sector. Klick
Ur ÅKE ORTMARK: Ja-sägarna - Medlöpare och nickedockor kring Gyllenhammar, Karl XII, Kreuger och andra furstar. Klick
Hedlund, Stefan
- Värt att behålla euron?, juni 2013
2005
Martin Hellwig ”The Bankers' New Clothes: What's Wrong with Banking and What to Do About It”
Hitler, Adolf
Utan bindningen av pundkursen kanske Hitler i stället hade fortsatt som konstnär.
The Causes of the Second World War
When Germany occupied (Mar., 1939) all of Czechoslovakia Great Britain and France created alliances with Turkey, Greece, Romania and Poland
Click
This second global conflict resulted from the rise of totalitarian, militaristic regimes in Germany, Italy, and Japan, a phenomenon stemming in part from the Great Depression that swept over the world in the early 1930s and from the conditions created by the peace settlements (1919–20) following World War I.
Click
The Hubble bubble theory of the continuous expansion of the financial universe, Izabella Kaminska, FT Alphaville December 2013
Stefan Fölster, HUI om EMU
Humlan
Hurd, Douglas
Huspriser
HQ
Andrew Huszar
Hökmark, Gunnar hos Internetional
Gunnar Hökmark hos nejtillemu.com
Vad fick 2,7 miljoner svenskar att skriva på ett upprop mot USA:s krigföring i Vietnam?
Idling Fröberg, Peter
IMF World Economic Outlook, October
1999
IndyMac Bank
Infrastrukturinvesteringar
Injection
Inflation targeting fail?
Insurance industry low interest rates
Invergordon
Irland
Isaksson, Anders
Ingves, Stefan
Institute for International Economics
"Irrational exuberance", Greenspan om
Is i magen
Issing, Otmar
Ja-sägare och nickedockor (Ortmark, Åke)
Ulf Jakobsson
Japan
Jay, Anthony
- Fixed exchange rates and the lessons of history By Douglas Jay
Jet Stream and weather
"jingle mail" post the keys to the lender and walk away
Johansson, Mats
- Mats Johansson i SvD 99-05-26
Johansson, Sten (FIEF)
Johansson, Kurt-Ove
Jojo-ekonomin, den svenska, DI om
Jonathan Livingston Seagull
Jonung, Lars
Jubak, Jim
Greece
Juncker: ‘There will be no default’
Politico 20 april 2015
Jean-Claude Juncker:
Over the past years, Europe suffered the worst financial and economic crisis since World War II.
via Rolf Englund blog 15 juli 2014
Downing Street said Mr Cameron warned that if EU leaders bowed to the European Parliament’s demands for the appointment of Mr Juncker,
it would mark an “irreversible step” with elected European leaders handing powers to MEPs. June 2014
It doesn’t matter who gets the job
Whoever ends up as Commission president will have one aim: ever closer union in Europe
Cameron, Reinfeldt, Merkel Toppmöte på Harpsund om Juncker
Rolf Englund blog 8 juni 2014
Juncker is an enemy of the British nation, but Luxembourg is our friend
For good or ill, Mr Juncker’s pitch for the commission presidency is a moment of truth.
Late last Tuesday in Brussels, Ms Merkel stopped an imminent vote over Mr Juncker,
sparing David Cameron a humiliating defeat at the hands of other EU leaders, FT June 3, 2014
Jean-Claude Juncker, som är kandidat till kommissionsordförande för den största partigruppen, konservativa EPP, förklarade en gång hur EU arbetar:
”Vi bestämmer någonting, låter det ligga ett tag och väntar och ser vad som händer.
Om ingen protesterar, av det enkla skälet att de flesta inte vet vad som har blivit beslutat, så fortsätter vi, steg för steg, tills det inte finns någon återvändo.”
Johan Norberg
Block Juncker to save real democracy in Europe, Rachman
Jämlikhetsanden
Jämviktsarbetslöshet (NAIRU
Kaletsky, Anatole
Kaletsky K hos Project Syndicate
- Why there was no New Deal after the Great Recession
- Exuberance is not always ‘irrational’ July 2014
Izabella Kaminska
Lånepengar, lönepengar och duktiga flickor Izabella Kaminska och Iren Levina
Rolf Englund blog 2014-08-09
Secular stagnation
There’s something more significant going on in the industrialised global economy than the effects of a banking crisis per se
The financial intermediation industry loses its raison d’etre in such an environment
Izabella Kaminska, FT Alphaville 17 April 2014
Keynes, Krugman, Secular Stagnation and The Death of the Rentiers
Izabella Kaminska, FT Alphaville, 23 January 2014
Summers on bubbles and secular stagnation forever
Larry Summers’ speech to the IMF Research Conference on November 8, the video of which started circulating at old fashioned money multiplier rates this Sunday.
Izabella Kaminska, FT Alphaville 18 November 2013
Greenspan, the Keynesian, Justin Fox at the Harvard Business Review
Izabella Kaminska, FT Alphaville, Jan 9, 2014
The Hubble bubble theory of the continuous expansion of the financial universe,
Izabella Kaminska, FT Alphaville December 2013
Kanada
Peeter-Jaan Kask
"Vägen in i och
ut ur Krisen - Ekonomisk politik från Feldt till Persson"
Kasriel, Paul L
Kant kategoriska imperativ
Kaufman, Henry
John Kay
Keynes
- Paradox of Thrift
- Liquidity Trap
- Davies, Keynes som investerare
The market can stay irrational longer than you can stay solvent, Keynes
Katrine Kielos
- Anders Borg tassar försiktigt i nymoderata mockasiner. maj 2013
- Det mest tragiska är att Cameron har rätt i en hel del av sin EU-kritik. 27 januari 2013
- EU behöver inte en till tysk seger, Renzi utmanar Tyskland gällande åtstramningspolitiken. 13 juli 2014
Mervyn King at IntCom
The alchemy is “the belief that money kept in banks can be taken out whenever depositors ask for it”
Martin Wolf, FT 31 May 2016
In spite of the “biggest monetary policy stimulus in the history of the world” the results have been anaemic.
“Central banks have thrown everything at their economies, and yet the results have been disappointing,” he notes.
“Whatever can be said about the world recovery since the crisis, it has been neither strong, nor sustainable, nor balanced.”
The End of Alchemy: Money, Banking and the Future of the Global Economy by Mervyn King – review
John Kampfner, The Guardian 14 March 2016
John Kay Excellent new book by Mervyn King, The End of Alchemy, uncertainty
2016/04/john-kay-excellent-new-book-by-mervyn.html
The End of Alchemy: Money, Banking and the Future of the Global Economy by Mervyn King
Amazon
Michael Lewis about Book by Mervyn King. “The End of Alchemy”
The eurozone is doomed to fail and will lurch from crisis to crisis unless it is broken up
Germany should leave the euro zone in order to save the union
King is playing a game of chicken with the world’s most irresponsible industry, Wolf
Rolf Englund, Den Stora bankkraschen, Timbro, 1983
Stephen King of HSBC
Stephen King: Why monetary stimulus has not done its job
via Rolf Englund blog 2016-01-23
At the end of the day, the central issue behind the Greek crisis hasn’t changed: it is still, ultimately, a question of who, picks up the bill.
If everyone avoids their share, the result is unfortunate.
If, as with Germany in 1990, everyone accepts their share, the result is tranquillity.
Germans, however, wanted to be reunited. It is still far from obvious that the nations of Europe feel the same way about each other.
Stephen King, HSBC’s Chief Global Economist and author of When the Money Runs Out, FT 6 July 2015
Stephen King is HSBC Group’s chief economist and the bank’s global head of economics and asset allocation research. He is a member of the Financial Times Economists’ Forum
Stephen D. King at Amazon
Over the past 12 months, inflation throughout much of the world has dropped like a stone,
ending up at levels wholly unanticipated at the end of 2012.
If Japan’s problems partly stemmed from a failure to spot the onset of deflation,
might it be that policy makers in the west could be sleepwalking into the very same problem?
Stephen King, Financial Times 13 January 2014
In 1931, Austria was attempting to deliver the kind of austerity now being witnessed in parts of southern Europe.
The crisis culminated in the failure of Creditanstalt, a major Viennese bank – the 1931 equivalent of Lehman Brothers.
A handful of years later, Hitler was welcomed by cheering crowds in Vienna.
Stephen King, HSBC Group’s chief economist, Financial Times, 9 May 2012
Stephen King in Emu, Four Endings and a Funeral
Bubbles do burst, Samuel Brittan, FT, July 22 1999
Stephen King of HSBC has presented a perceptive analysis, not only suggesting that the US stock market boom is indeed a bubble,
but venturing a view on how and when it might burst ('Bubble Trouble', HSBC Economics, July 1999).
Koch Brothers
Book
Kokk, Enn
Koftor - Inpiskade DN-koftor som bor i kulturreservat på Mosebacke
Konservativa socialdemokrater
"Konsumtionsfesten på
80-talet"
Koestler, Arthur
Korpi, Walter
Kotlikoff Laurence
- www.kotlikoff.net/
- Inspiring words from preface of Laurence J. Kotlikoff, Jimmy Stewart is dead
- Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking
- How to take moral hazard out of banking, Niall Ferguson and Laurence Kotlikoff
- Laurence Kotlikoff replies to Lord Turner, chairman of the UK’s financial regulator, the FSA.
- The public are focused on countries' official debts, rather than their fiscal gap
KPI - Sverige
Kristersson, Ulf
Ivar Kreuger
Krim-kriget, Charge of The Light Brigade and all that
Paul Krugman
Charge of the Right Brigade The really smart Wall Street money have an underlying macroeconomic framework pretty much indistinguishable from mine.March 2014
What was radical, if you like, was my style, not my content
On macroeconomics, there’s not a lot of air between my views and those of, say,
staff economists at the Fed Board of Governors, the New York Fed, the IMF, and even (say it quietly) the ECB... February 2014
Oskar Lafontaine
- Oskar Lafontaine...När han i förra veckan sammanträffade med den franske finansministern Dominique Strauss-Kahn,
den brittiske finansministern Gordon Brown och den italienske finansministern Carlo Azeglio Ciampi...SvD-ledare november 1998
- Kohl har på sistone gjort ett blekt intryck. Utan tidigare motstycke är också hans vädjan till SPD, socialdemokraterna under Oskar Lafontaines ledning,
att medverka till en skattereform för att få fart på ekonomin och bryta udden av arbetslösheten.
- Men kan någon annan än Kohl bjuda framgångsrik kamp mot SPD:s Gerhard Schröder,
som väntar på att manövrera ut Oskar Lafontaine och bli sitt partis näste kanslerskandidat?
Schröder tar direkt avstånd från EMU. Han vet att han kan utnyttja en majoritet tyskars oro för valutaexperimentet och D-markens ersättning med euron.
Med honom i ledningen skulle det bli ett annorlunda Tyskland.
DN-ledare 1997-02-26
- Die Linke
Pascal Lamy
Lannebo, Anders
Larsson, Allan
Larsson, Janerik
Leeson Barings
Leijonborg, Lars
Philip Lerulf
Lehman Brothers
Lender of Last Resort
Lettland
- Lettland, old
Leverage
Linder, P J Anders
Lind, Göran
Lindh, Hans
Lawrence Lindsey
Lindbeck, Assar
Lindvall, Johannes
Lindqvist, Sven
Linux
Litauen / Latvia
Brad DeLong, See Brad
LOLägesenergikoeffecienten
,
Löntagarfonder
Löwbeer, Hans
Charles Mackay
Magnus, George
McCulley, Paul
Makin, John
Market Economy - We all know what that is
Markets Economy - Economy highly influenced by the stock market, the currency market, the credit market and the real estate market
Makroteori,
enligt Jonung på Handels
Malm, Stig
- om vilka som var
överhettade på 80-talet
- ... finansvalparna i vita kostymer
Malmqvist, Peter
Burton Malkiel, author of A Random Walk Down Wall Street
Cecilia Malmström
När Khaddafi fick jobb som EU:s gränspolis
I början av oktober 2010 åkte EU-kommissionär Cecilia Malmström till Libyen
Malta
Campaign ‘Make Malta Great’ will focus on Malta’s presidency of the Council of the European Union
Malta Today 21 December 2016
The campaign is run by 89.7 Bay in collaboration with other entities, namely Times of Malta,
General Soft Drinks, Water Services Corporation, Automated Revenue Management Services, Intercontinental Malta and the Eden Leisure Group.
More information about the campaign is available at http://www.makingmaltagreat.com/
Plans by Malta to sell EU passports for €650,000, allowing buyers immediate rights of residency in all member states.
Maltese citizenship allows visa-free travel to the US and 160 other countries.
Financial Times 9 December 2013, Full text
- Allt fler undrar nog om det är så klokt att Sverige försöker orientera sig ensamt på internationella vatten, särskilt nu när det stormar, skrev DN i en ledare . Det är dock en tveksam bild. Är man på havet och det stormar och man dessutom inte flyter, då är det allvarligt. Utmaningen är att ta med Estland, Lettland, Litauen, Polen, Ungern, Tjeckien, Slovenien, Slovakien, Malta och Cypern. Rolf Englund, NWT 2001
It was the morning after the night before and I was riding an elevator to the 13th floor in the European Commission.
Two men smiled at each other and one said "I hear Greece has been saved". "Couldn't be better," beamed the other, before disappearing into the vastness of bureaucracy.
It felt like news shared from a distant front: "Bastogne has been relieved" or "Malta is holding out".
Gavin Hewitt, the BBC's Europe editor blog 26 March 2010
In 1940, Malta found itself at the heart of a raging battle between Allied and Axis powers for naval control of the Mediterranean.
Mare Nostrum
The market can stay irrational longer than you can stay solvent, Keynes
Mark-to-Market
Mares, Arnuad
David Marsh
Marshall-hjälpen och nästa svenska devalvering,
Mycket förtroligt Eyes Only, Sänt till Carl Bildt 90-11-02, Utlagt på Internet 96-10-29
Rolf Englund
Some fact about the Marshall Plan
MBIA
Masters of the Universe
Medelklassen har proletariserats
Medelklassen (The Chattering Classes/"commentariat")
Meinhof, Ulrike
Melin,Annika Ström
Meltzer, Allan
Carl Menger
Mercedes-Benz 300 SL
Merrill Lynch
Meyersson, Per-Martin
Skuldkrisen 80's Mexico et al
Swedish Midsummer for Dummies
Minkar, tänkbara u-båtar
Minoriteter i USA, utlåning till subprime
Minsky, Hyman
Moderaterna
Moderaternas partiprogram om EU
Moderation, The Great
Mona
Monetarism
- Oj-då-metoden (alternative to Monetarism)
Monte dei Paschi di Siena, the world's oldest bank
Moral Hazard
J P Morgan
- JP Morgan Chase has agreed to a record $13bn settlement with US authorities
November 2013
Multiplikatorn
Music stops, until dancing
Sri-Kumar warned "The music will stop, and not everyone will have a seat."
Munchau, Wolfgang
Mårtensson, Arne
NAIRU
Nacka - i , driver man realpolitik Mats Johansson
Name-dropping
Nationalekonomiska Föreningen, Rolf Englunds inlägg på
Nerbrand, Sofia
boken "En olaglig folkomröstning" /EMU/ av Joakim Nergelius
New Era
New York Times om Sverige
Ninja loans – no income, no job, no assets
Nobel Prize Winners in Economics
Peter Nolan, “systems integrator” companies, 2013
Johan Norberg
Jenny Nordberg
Northern Rock
Nostalgia
- What Is Nostalgia Good For? Quite a Bit, Research Shows, New York Times 2013
Nya Zealand, bostadspriser
Nycander, Svante
Obama, President
Odelberg, Axel
Mats Odell
Oil
Oj-då-metoden (alternative to Monetarism)
Oj-då-metoden Credit nr 5 1988 diagram
boken "En olaglig folkomröstning" /EMU/ av Joakim Nergelius
Birgitta Ohlsson
Olyckskorp, Det är svårt att vara O. när allt går som smort - Bankinspektionen
Father of Us All? -Paleontology
Paulson, Henry, Treasury Secretary
Palme, Olof
- Palme och löntagarfonderna
- Palme och Fidel Castro
Palmstierna, Jacob
Panic - There is no such thing as rational expectations. There is wishful thinking, or panic
Lissabon och EU-parlamentets växande makt
Downing Street said Mr Cameron warned that if EU leaders bowed to the European Parliament’s demands for the appointment of Mr Juncker,
it would mark an “irreversible step” with elected European leaders handing powers to MEPs. June 2014
The day we got EU parliamentarianism.
Juncker, how many votes did you get in the last European elections?
Peder Bonde via Rolf Englund blog 15 juli 2014
This parrot has ceased to be
and — sooner rather than later — the euro will collapse.
The Economist print, editorial, October 25th 2014
Paulsen, Marit
Pax Romana
Pearson, Simon
Persson, Göran
- Persson, Göran, om EMU
- Persson, Göran - Hur hamnade vi i krisen? , Den som är satt i skuld är inte fri
- Göran Persson om HSB-krisen
- Till de egna meriterna hör saneringen av statsfinanserna och frånvaron av stora makroekonomiska misstag.
Peter Wolodarski 2006
- Persson, Göran: Människors uppoffringar har givit resultat
- Johnny Munkhammar: Statsminister Persson bygger all sin trovärdighet på påståendet att de borgerliga skapade den ekonomiska krisen på 1990-talet och att han fick reda upp den.
Det är den största politiska lögnen i Sverige det senaste decenniet
Peterson, Thage G.
Michael Pettis
Phelps, Edmund
In October 1929
"stock prices have reached what looks like a permanently high plateau."
Click
Plaza Accord
Plender, John
Plus ca change, plus c'est la meme chose
Plunge protection team (PPT)
The Stock Market's Da Vinci Code, The Plunge Protection Team, Jonathan Moreland
Politikerlagen, Den Järnhårda
Pol Pot
"principal-agent" problem
Proletariserats har medelklassen
procrastination
Psykiatrireformen
Public Choice
Did QE punish savers for nothing?
Telegraph, 13 August 2013
The Queen
When the Queen asked asked an academic at the LSE why the economics profession had failed to predict the credit crunch,
Her question is disarmingly simple, but the answer is not.
The British Academy has written a letter to Her Majesty The Queen
The letter was in response to Her Majesty’s question on why no one had noticed the credit crunch was about to happen.
Another decade of western economic malaise – or, God forbid, another financial crisis –
is likely to see more radical solutions and politicians emerging.
Gideon Rachman. FT December 9, 2013
- political revolts from the unenlightened masses, otherwise known as voters
Radetzki,
Marian
Raghuram Rajan
Randstat
Rating Agencies
Rational expectations
Realräntor - Real Interest rates
- too popular
Rebalancing the world economy
Recession in 2007?
Rees-Mogg, William
Fredrik Reinfeldt
Reinius, Ulla
Reith
Lectures 1999 (BBC): Professor Anthony Giddens, director of the London School
of Economics, speaks on the theme of globalisation.
Ribbons
Riksgäldskontoret/National Debt Office
Barry Riley
Roach, Stephen
Rogoff, Kenneth
Mauricio Rojas
Rome, Habsburg and the European Union
Göran Rosenberg
Bo Rothstein
Roubini, Nouriel
- The increase in money supply following QE has not led to credit creation to finance private consumption or investment.October 2013
- Let me explain now in more detail why we are now back to the risk of
a total systemic financial meltdown, 29 September 2008
Now, five years later, signs of frothiness, if not outright bubbles, are reappearing in Switzerland, Sweden, Norway, Finland, France, Germany, Canada, Australia, New Zealand, and, back for an encore, the UK (well, London).
Nouriel Roubini, november 2013
Rudebeck, Lars
Rummel, Rudy
Run on banks
- the mother of all bank runs, Roubini
- over-reliance on wholesale borrowing
See also Lender of last resort
- Göran Persson om HSB-krisen
Liquidity Crisis Gerhard Illing, University of Munich, September 21st 2007
The payment system The central bank, as lender of last resort, is the ultimate guarantor of this collective good.
Riksbankens roll som lender av last resort
Bengt Rydén tidigare SNS-chef
Rydenfelt, Sven
Ryttar, Bengt-Ola
Räntans betydelse, SvD om
Räntearbitrage
Räntegapet
- se även Ingves
Sachs,
Jeffrey
Sahlén, Anders
Sahlin, Mona
- Bild Mona och Bildt
Salomon, Kim
Samuelson, Robert J.
- The great lesson of the past year is how little we understand
Sandberg, Nils-Eric
NES hos Kristianstadsbladet
- Efter realräntechocken 1992 föll bostadsbyggandet, mätt i antalet bostäder, med 82 procent.
- Nils-Eric Sandberg (red.)Vad kan vi lära av kraschen? Bank- och fastighetskrisen 1990-1993
SNS 2005
- Det är ju märkligt att människor inte tänker på vad som hände 1907, sa Rydenfelt. Nils-Eric Sandberg
Nils-Eric Sandberg
Sandberg, Nils-Eric (om 90-talskrisen)
Saudi Arabia
Jacques Santer, President of the European
Commission
Savings and Loans Bailout
SBAB slopar topplånet
Schiff, Peter
Wolfgang Schäuble
- today’s EU treaties provide adequate foundation for the new supervisor and for a single resolution mechanism,
hey do not suffice to anchor beyond doubt a new and strong central resolution authority. FT May 2013
Schlaug, Birger
Ardalan Shekarabi
Gary Schilling
Lissabon och EU-parlamentets växande makt
Martin Schulz
Schück, Johan
Schück, Johan, om OECD och den svenska
eftersläpningen
Secular stagnation
Secular stagnation has moved here
Seagull, Jonathan Livingston
S-E-Banken
Secret
Sedelpress
Shanghai
The Sleepwalkers: How Europe Went to War in 1914
by Christopher Clark
Genombrott för solenergin?
Global solar dominance in sight as science trumps fossil fuels
Rolf Englund blog 2014-04-10
South Sea Bubble
- Bitcoin, the South Sea Bubble, and Chartalism, Brad DeLong December 5, 2013
- The Economist 1999
- Edward Chancellor, author of "Devil Take the Hindmost: A History of Financial Speculation", 1999
- John Plender, Financial Times November 1 2004
Modern finance theory denies the existence of bubbles on the ground that markets are efficient.
Interesting, then, to read a new book* by Richard Dale of Southampton University on the South Sea Bubble that turns up new evidence showing there were established valuation techniques at the time and that aberrant investors genuinely lost touch with fundamentals.
I found him pretty convincing.
The First Crash: Lessons From The South Sea Bubble
Stall Speed - Secular Stagnation
Sedelpress
Altman
Seeman
The shadow banking system
In 1948, Paul A. Samuelson’s “factor-price equalization theorem” lucidly showed that under conditions of unlimited free trade without transportation costs (and with other idealized assumptions),
market forces would equalize the prices of all factors of production, including the wage rate for any standardized kind of labor, around the world.
In a perfect world, people don’t have to move to another country to get a higher wage.
Ultimately, they need only be able to participate in producing output that is sold internationally.
Robert J. Shiller, a 2013 Nobel laureate in economics, Project Syndicate 19 September 2016
Robert Shiller may or may not have deserved a Nobel Prize for his academic work on behavioral economics
but as a practical guide to investing, his approach has been thoroughly refuted by real-world experience.
Anatole Kaletsky, Reuters, 25 July 2014
– I am one of the winners of this year’s Nobel Memorial Prize in Economic Sciences,
which makes me acutely aware of criticism of the prize by those who claim that economics
– unlike chemistry, physics, or medicine, for which Nobel Prizes are also awarded –
is not a science. Are they right?, Robert J. Shiller, November 2013
Robert Shiller has been out there talking about a stock-market bubble again.
December 2013
SIV = structured investment vehicle
Siegbahn, Bo
Skriande
Jag tycker det är skriande uppenbart att räntan världen över är för låg
och att en större del av stimulanserna borde ske via finanspolitiken.
Rolf Englund 2009-12-05
Skuldkrisen på 80-talet
- Skuldkrisens födelsedag 1982
Släpar Sverige efter?
Smith, David (EMU)
Sophie's Choice, Bernanke’s
SNS -
Konjunkturrådets rapport 1996 (EMU)
SNS 1994 om Fastighetskrisen
"SNS-gänget"
Soft landing
Georg Soros
- Soros versus Sinn: May 2013 - Soros, GeorgePeter Stein - principalagenterna
Strauss-Kahn, Dominique
Streets...the future of the European economy and its single currency is more likely to be decided on the streets
Stress test
- Draghi Irland Moodys mars 2014
- BBC's business editor Robert Peston, 16 July 2010
- Wolfgang Münchau, FT, June 27 2010
Sträng, Gunnar, om
budgetunderskottet
Ström, Pernilla
Strömmer, Gunnar
Sturgeon's Law - "ninety percent of everything is crap."
Subaru
Lawrence H. Summers
Sundström, Åke
Åke Sundström om
Bilaga 5, 2001
Jacob Sundberg -
Institutet för Offentlig och Internationell rätt (IOIR
- International Commission of Inquiry Into the 1932–33 Famine in Ukraine, Jacob Sundberg
EU, Ryssland och IMF bailar ut Ukrainas fordringsägare?
Rolf Englund blog 2014-02-24
Gunnar Hökmark, förstanamn på moderaternas valsedel i EU-parlamentsvalet, underblåser konflikten i Ukraina, Rolf Englund blog 2014-02-26
Supply-side economics
Swedbank
Bob Swarup
Money Mania: Booms, Panics and Busts from Ancient Greece to the Great Meltdown by Bob Swarup. Bloomsbury Press
Review by John Authers, FT 27 April 2014
Svegfors
- Svegfors: "Det är
strukturellt"
- Svegfors om EMU
- Svekfors
Olle Svenning
Svensson, Lars E O Svensson
Svensk Handel
Svensk Linje
Svensson, Lars, rådgivare åt Bengt Dennis
Sverenius, Torsten
Bo Södersten
Söderström, Hans T:son (EMU)
Taggtrådsutrullning, Palme och Englund om, betr Löntagarfonderna
Tale risk
Taleb, Nassim Nicholas
The Taylor Rule
Tanzania
Tegnér, Esaias: Det Eviga
Titanic
Gillian Tett
- Are the markets going mad? May 2013
Tjetjenien
Too Big To Fail
Transmission Mechanism
- Vitor Constancio, slides
Treasury Secretary Henry Paulson
Treaty Change
Ms Merkel called for a “real economic union” in Europe through treaty change
saying that the current level of economic co-ordination in the eurozone is unsatisfactory.
The eurozone is currently in a state of “deceptive calm” in which the crisis is “under control, at best,” she said
Financial Times, 14 January 2014
Merkel: If you want more Europe, be prepared for EU treaty change
OpenEurope, December 18, 2013
- Schäuble EU bank rescue agency needs treaty changes, 2013
- today’s EU treaties provide adequate foundation for the new supervisor and for a single resolution mechanism,
they do not suffice to anchor beyond doubt a new and strong central resolution authority. FT May 2013
- assuming that Europe’s debtors and creditors can agree, any revision could invite disaster.
Eurosceptic parties of many stripes are on the rise in both north and south. Charlemagne, The Economist April 2013
Trade surplus, Sweden
Göran Thunhammar
Turing, Alan, the father of modern computer science and breaker of the Nazis’ Enigma code,
is being pardoned on Tuesday for his conviction for homosexuality, 2013
Turkiet
Tyskland - D-Mark
Ubiquity
UBS - Union Bank of Switzerland
Nigel Farage UKIP
När Nigel Farage och jag år 2002 talade i Westminster Abbeys kyrksal
UK/Storbritannien och EMU
Ukraina
Ukraina 2014
- International Commission of Inquiry Into the 1932–33 Famine in Ukraine, Jacob Sundberg
Ullman, Harald
Unckel, Per
- Konstitutionsutskottet om Per Unckel
Unemployment
Understand, why
people don´t
Ungern, Camus om
Utopism
Utvidgning, EUs
USA, Trade deficit
Utlandslån, Sverige
Valutaregleringen, avvecklingen av
Vasa Gustav, Rolf
Englund i tal om Unionen, moderaterna och den europeiska utopismen
Vaubel,
Roland
Vatican (The Pope)
Villaägarna och bostadsrättsinnehavarna Too Big To Fail?
Rolf Englund augusti 2013
Vietnamkriget
Voluntary?
Can bondholders demand full repayment of what they lent to a country even when others have settled for a haircut?
de Vylder, Stefan
Volcker, Paul
- Kaletsky 4.0, Mexiko 1982
Välfärdsligan
Nordea hamnade i blåsväder efter SvD:s avslöjande om att banken köpt en lägenhet för 22,5 miljoner kronor för vd:ns räkning, samma höst som man sa upp tusentals anställda.
Björn Wahlroos:
”Människor behöver faktiskt bo.
250 kvadratmeter låter kanske mycket för en redaktör, men Christian leder faktiskt Europas femte största bank”.
Carolina Neurath SvD Näringsliv 19 maj 2013
Waldenström, Erland
Jan Wallander
Olof G. Hedengren: Jan Wallander, styrelseordförande i Handelsbanken och den mest ondskefulle person jag någonsin mött i affärslivet.
Walk away - "jingle mail" post the keys to the lender and walk away
Walkaway /from the house and the mortgage
David Wessell
David Wessels bok om finanskrisen 'In Fed we Trust'
I december firade Federal Reserve 100 år.
I december var det också fem år sedan styrräntan sänktes mot noll.
Louise Andrén Meiton, SvD 28 mars 2014
The current-account deficit, now more than $1.8 billion a day,
or $2,250 per man, woman and child per year
Europeans and Asians tell us that the global economy would be safer if we saved more and imported less.
The U.S. replies that the economy would be safer if Europeans and Asians saved less and imported more
David Wessell Wall Street Journal 12/5 2005
Hjelm-Wallén, Lena
Wallenberg, Marcus
Wallenberg har ansvar för Stora Ensos fallerade affärer
Carl-Johan Westholm
Westholm, Carl-Johan 1994
Bill White world’s central banks were making a mistake with their single-minded focus on monetary policy
Wibble, Anne
- reservation i Valutakommittén 1985
Wiborg, Ragnhild
Wiklund, Mats
Knut Wicksell
Withdrawal
Stephen Williamson
Augusti 2015
Wolf, Martin
Wohlin, Lars
Wolodarski, Peter
Wästberg, OlleWibble
Zentay, Charles
Zern, Leif
Zetterberg, Hans
Zimbabwe
- Carl Tham om
- Lena Hjelm-Wallén
om
Åberg, Carl Johan
Bromma/Ålsten
Åsbrink, Erik
Åslund, Anders, om
Asiens bank- och finansris
Åslund, Anders
Paul Krugman's Blind Spot
Sorry, but the New York Times' star columnist just doesn’t understand Europe.
Anders Åslund, Foreign Policy 8 November 2013
Aslund praises Reinhart and Rogoff for providing an important corrective to the view that fiscal stimulus is always right – a position that is common across the Anglo-American economic commentariat, led by Paul Krugman in the New York Times.
This is a curious thing for him to say, because it’s an outright lie
I can’t believe that Aslund doesn’t know this; why, then, would he discredit himself by repeating an easily refuted falsehood?
Paul Krugman, New York Times, 22 April 2013
Öresundsbron
Österåker
Österrikaska banker
Österrikiska skolan
Överskottsmålet
