Posts Tagged monetary Policy Committee

The costs of lockdown could far outweigh the benefits

The costs of lockdown could far outweigh the benefits

Radical leaders such as Jacinda Ardern in New Zealand and Nicola Sturgeon in Scotland have gained plaudits through their relentless focus on eliminating Covid-19. But this comes at an obvious economic cost. Tourism is some 15 per cent of New Zealand’s GDP, and major destinations such as

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It’s time to question the macroeconomic orthodoxy on interest rates and inflation

It’s time to question the macroeconomic orthodoxy on interest rates and inflation

Mark Carney, governor of the Bank of England, is getting his retaliation in early. Faced yet again with the Bank failing to deliver its designated target of a two per cent inflation rate, in a speech last week he suggested that his remit was broader. “We face

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Supply side success is a cure for the drug of deficit finance

George Osborne’s plan to run financial surpluses and use them to pay off government debt has been met with the usual set of whinges and whines, mainly from academic economists funded by the taxpayer. Of course, their arguments are based purely on what they believe to be

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No interest rate changes for three years? Zero hours contracts for the Monetary Policy Committee!

The new Governor of the Bank of England, Mark Carney, said last week that interest rates will not be raised until unemployment falls below 7 per cent, a process he thinks will take three years. The battle of Austerlitz in 1805 was one of Napoleon’s greatest victories,

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Ignore Krugman: We’re not caught in another depression

Spotting and identifying new species is always exciting. And the last couple of years has seen the emergence of a new type of economic commentator, the recovery denier.  Paul Krugman, the Nobel prize-winning economist, wrote a piece at the end of last year in which he compared the

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