| Chart of the week: Spanish unemployment - 2011-11-20 08:00:00 |
| Spaniards vote today, with opinion polls pointing to a change of government. Incoming conservative Prime Minister Mariano Rajoy faces unsustainably high sovereign bond yields, a depressed economy most likely sliding back into recession and, at 21.5%, the highest unemployment rate in the Eurozone. While the European Commission's autumn economic forecasts, published earlier this week, forecast tepid GDP growth for Spain of 0.7% in 2012, most market economists are more pessimistic. Without further austerity measures, JP Morgan economist Greg Fuzesi expects... |
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| Nudging behaviour: When incentives do (and don't) work - 2011-11-17 16:30:00 |
| Behavioural economics has blossomed in recent years, to the point that the Fall 2011 edition of the Journal of Economic Perspectives can, along with articles on neuronomics, genetics and retirement, include a fascinating 20 page review paper on incentives. That's not surprising; a lot of people have taken an interest in them lately, including President Obama and Britain's prime minister. When and Why Incentives (Don’t) Work to Modify Behavior was written by Uri Gneezy from the University of California–San Diego,... |
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| I’m back - 2011-11-16 16:08:29 |
| For various reasons I have been unable to blog for almost three years. But now I'm back. It would be an understatement to say I have missed a lot. Not only the Great Recession and the not-so-great recovery, but all the fun and games in the Eurozone as well. Regulators are flexing their muscles, central banks have gone all'unconventional'on us, European politicians are still struggling to find a lasting solution to their problems, American politics is as polarised... |
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