Measured by asset purchases, the Fed can appear more activist than the ECB. But if you account for TLTRO lending to banks, data by @fwred cited by @TheEconomist Show that ECB has in fact provided slightly larger stimulus. economist.com/finance-and-ec… https://t.co/Q1hLr04nXz
Loans with gold and gold jewelry as collateral are big business in India. Formal gold-lenders have assets of $40bn. Smaller lenders make another $80bn inlays. Rates vary from 12-50%. Average loan size <$700. economist.com/finance-and-ec… https://t.co/48yJrmmCCL
The convergence club revisited: poor countries have the potential to achieve rapid catch up growth. But, obviously, not all do. New work by @WorldBank reviewed by @TheEconomist economist.com/finance-and-ec… https://t.co/mlnEg7T5Ww
In 1992 a survey of AEA members found that 79% agreed that a minimum wage increases unemployment among young and low-skilled workers. By 2000 only 46% did. What changed? @TheEconomist pays tribute to work of David Card and late great Alan Krueger. economist.com/schools-brief/… https://t.co/hla0xQfBgk
“For a long time economists—whose median income, according to a survey of the American Economic Association (aea), is $104,000 a year—considered minimum wages to be harmful.” Touché @TheEconomist on how views have begun to change. economist.com/schools-brief/… https://t.co/J3bPq0NE04
"whole-nation system” – this @TheEconomist briefing on China’s evolving system of industrial policy is truly excellent. Highly recommended. economist.com/briefing/2020/… https://t.co/Yf3nGvjf0N
Hemispheric juxtapositions: Japan-US @onlmaps Indonesia-US @Jacob___Shively Australia-US @MaksymPolyakov https://t.co/96dSthwa0z
The disaster of failed COVID containment is destroying the tourist economy of the Caribbean. Jamaica visitors plunge by 96%. @SoberLook https://t.co/2aon9t3yAM
In recessions indiscriminate credit card borrowing really comes back to bite lenders. Additional worry is distress borrowing -> lenders tighten standards inducing a pro cyclical squeeze. At least that is what this data seems to suggest. @BittelJulien via @SoberLook https://t.co/jhm4G1DjSE
Set against global equity market shock of March 2020 that for obvious reasons triggered massive policy response, should we not be somewhat impressed by the c. 20 trillion dip in 2018 to which response was far more muted? @DavidInglesTV via @SoberLook https://t.co/Us7OHyUKVP
Death knell for brick-and-mortar? Retail has regularly been hit hard by business cycle, but never has there been the divergence seen in 2020 btw online "non store" and store retail. @bcaresearch via @SoberLook https://t.co/XSiHZmCUqm
Belarus unrest spells opportunity for rival potash-fertilizer producers. Shares in some of the world’s top fertiliser companies have rallied after protests at potash mines. Belarus is world’s #2 exporter. @EmikoTerazono @hjesanderson ft.com/content/c0d711… https://t.co/0N5m67ZhI5
America’s stimulus checks were a timely and effective counter to recessionary shock of the lockdown. PPP was generous, but far from obvious that it worked to retain workers who would otherwise have been laid off. Evercore ISI via @LizAnnSonders via @SoberLook https://t.co/QbPraPrI7Z
RT @RobinBrooksIIF: Die Aufwertung des Euro, die in letzten Wochen stattgefunden hat, ist nicht tragbar. Dabei geht es nicht darum die Erru…
Internet usage soared 25% within a few days in mid-March as the coronavirus pandemic started forcing Americans to stay home. Great data from @Lilliannnn wsj.com/articles/coron… https://t.co/ac3eGUMsBl
Very interesting thread about QE and inequality in the UK and Bank of England’s defensiveness on the topic. From @Frank_vanlerven twitter.com/Frank_vanlerve…
The household-directed component of America’s fiscal response to the COVID shock will go down as one of the most timely, adequately-scaled and effective in history. But then … @CapEconomics via @SoberLook https://t.co/MPsno8YQ9Y
RT @Frank_vanlerven: As Carney said ‘all monetary policy has distributional effects, but it is the role of elected governments to take mea…
"Continental scale” If you put Japan (pop 126m) down the Atlantic coast of the US it stretches from end to end @onlmaps If you lay Indonesia (pop 268 m) across, it stretches from side to side. H/t @Jacob___Shively https://t.co/W7lVIheC1y
If Japan were in the Atlantic, it would stretch the length of the American coastline. H/t @onlmaps https://t.co/OSawMCAi0l
The collapse in childcare in US is having a devastating impact on the ability of women to participate in the labour market. @censusbureau via @SoberLook thedailyshot.com/category/the-d… https://t.co/zJGzIY8s94
If Japan were in the Atlantic, it would stretch the length of the American coastline. H/t @onlmaps https://t.co/cLrSvu5eLV
August 19 1870 French army of Rhine is besieged in Metz cut off from new French armies forming to the west. twitter.com/krieg7071/stat…
RT @Krieg7071: Die #Rheinarmee ist in #Metz eingekesselt. Die sechs Korps unter #Bazaine umfassen etwa 180.000 kampffähige Mann und 18.000…
RT @DavidBeckworth: Maybe I shouldn't be, but I find this poll surprising. 🤔 https://t.co/sDzUhGvWBU
RT @geoffmanaugh: Architect Ronald Rael has launched an Instagram account documenting center-pivot irrigation landscapes around the world—w…
RT @EdwardGLuce: Warning to anyone who cares about their earnings – never, ever bank with The Royal Bank of Scotland. They've frozen my UK…
RT @williamsonkev: 2018: Of 13,000 Californian firefighters over 2,500 in prison. Salaried firefighters earn $74,000 pa + benefits. Prisone…
RT @hshierholz: Good lord the evacuation zone is closing in (the evacuation zone is in red, I am at the left X, and Alan's mom is at the ri…
RT @eric_weinberger: @samuelmoyn @davidrieff @boyd_vandijk Can't find what this Congres is on the Google – do you know? https://t.co/4mBGDK…
Thames barges at Vauxhall, with Vauxhall Bridge in the background, 1920-40 © Historic England Im fascinated by presence of working sail on the river down to the 1970s. ft.com/content/16ea46… https://t.co/kJmws7ptWH
RT @xtophercook: A lot of British politics makes more sense when you remember how bad median education was until the 1980s/1990s. The post-…
Are the battle lines over fiscal policy in a Biden presidency already being drawn? twitter.com/shawnsebastian…
RT @jessefelder: How to think about a trillion… nytimes.com/1986/09/28/opi… https://t.co/Q8ZmfyCRR4
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