Fiscal activism and deficits have been the common denominator of the response to corona. BUT it is important to acknowledge uniquely large surge in US.
India’s inadequate fiscal response to the corona crisis has raised risk of K-shaped recovery and further worsened of huge inequalities. Interesting blog post by @orfonline
Derisking China’s financial sector is a key element in strategy of reenergizing and managing state capitalism that @S_Rabinovitch has highlighted in @TheEconomist For a discussion
South Africa’s Rand has made a dramatic comeback against the dollar since the panic of April. @SoberLook https://t.co/nKFHnJrDTK
The data on global GDP share of China’s SOE are mind-blowing. Compiled on basis of value added estimates by @andrewbatson & @Gavekal -> essential to
RT @kazbek: moscow metro station i used a lot vs nyc subway station i use a lot https://t.co/6102ljO7CW
"Special teams of public housing staffers — trained at a “rat academy” — fanned out across the city in an effort to get an accurate
The data on global GDP share of China’s SOE are mind-blowing. Compiled on basis of value added estimates by @andrewbatson & @Gavekal -> essential to
RT @FAFBulldog: https://t.co/EM5UZNIjMx
The Dutch culture of cycling is not a fact of nature. It is the product of history, of sustained political action. twitter.com/fietsprofessor…
RT @crossbordercap: Really great piece by @adam_tooze gets to nub of China debate. We are on @michaelxpettis side, not @TheEconomist view,…
It would be really interesting to tease out in greater detail what the relationship between overseas lending by China's policy banks and the current account
Very impressive thread this from @KevinPGallagher on the methods on which the BU group based their dataset about overseas loan commitments to govs & state-owned
I was part of a flurry of skeptical twitter yesterday about BU's striking new data on Chinese policy bank lending. This is an exhaustive and
China’s state-owned enterprises are an economic force of global scale, as @Gavekal @andrewbatson data highlight. But what is trajectory of Chinese state capitalism? Chartbook newsletter
July 31st expiration of $600/weekly supplemental unemployment benefits coincided with a roughly 20% decline in small business revenue across NYC outer boroughs. Federal assistance is
As of November 16th small business revenue was down 68% in Manhattan, 35% in Queens, 34% in Brooklyn, and 23% in the Bronx. Small business
After a few months of recovery, as of November 15th, New York City small business revenue is still down by 50% from early January. comptroller.nyc.gov/newsroom/new-y…
As measured by traffic on the City’s bridges, NYC has seen a bicycling boom in 2020. Long may it last! comptroller.nyc.gov/newsroom/new-y… https://t.co/W5mPCpl3Pf
For what it is worth, Manhattan’s GDP per capita was reported by the BEA in 2019 as $197,847! comptroller.nyc.gov/newsroom/new-y… https://t.co/usZ3Zp3hRp
Taken at face value, the five boroughs of NYC generate roughly as much GDP as the Netherlands. comptroller.nyc.gov/newsroom/new-y… https://t.co/jc2I3GGqlD
As lower income New Yorkers drop out of tax system due to heavy unemployment -> average tax withheld per tax payer has gone up by
SNAP food stamps and Cash Assistance program help the worst off New Yorker cope. Mar-sep 2020. SNAP enrollment rose by over 220k recipients to a
COVID-19 cost hit to NYC totals c. $4.9bn so far. $2bn are for hotels for homeless and food. $742m for PPE. $149m for ventilators. comptroller.nyc.gov/newsroom/new-y…
NYC is facing a public transport crisis: MTA ridership has not rebounded enough -> $1.3 billion in service reductions and cut their workforce by 9,367.
1/3 of NYC workers continue to work from home. V. 1/4 of Americans nationwide. comptroller.nyc.gov/newsroom/new-y… https://t.co/YF7CZw11T3
In May, at peak of corona shock, the unemployment rate amongst Asian and Latino NYC workers was twice that for white workers. comptroller.nyc.gov/newsroom/new-y… https://t.co/JmkAYLpFhd
Biden victory -> greater optimism about a fiscal deal for states and cities. But if fed aid relieves the same portion of these gaps as
Occupancy figures for NYC hotels understate the savage hit to hospitality sector because they are based on hotels that have stayed open. Hit to sales
Unemployment rate in NYC is currently 13.2% up from 3.6% yoy = loss of 570k jobs. 553k in private sector. labor.ny.gov/stats/pressrel… https://t.co/zUz4jEz7BP
“Demand-side reform”: Great thread from @michaelxpettis on a debate to follow in Beijing this month! twitter.com/michaelxpettis…
Im still hung up on the fact that when you look past the political narrative about “stimulus packages”, the fiscal impulse for US in 2020
"We now know that total decarbonisation is technically feasible at very low cost.” Transition is an investment in a better future even if you do
@AugustRemarque @Noahpinion S, totally open to idea that statistical constructs someone like me reads from outside give a simplified view of a chaotic, complex reality.
@AugustRemarque @Noahpinion Hi. Thanks for your engagement. I will be FIRST to agree that I am not China expert. Just someone trying to make sense
On Friday last carbon allowances in Europe’s Emissions Trading System smashed 31 Euros. Prices expected to stay above 30 throughout 2021. Data from: @BloombergNEF https://t.co/x9ZIsvy3FX
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