Category Archives: Economics

SMALL SAMPLES—ANOTHER PROBLEM WITH PUBLISHED ARTICLES.

SMALL SAMPLES—ANOTHER PROBLEM WITH PUBLISHED ARTICLES. I have posted, for example here, about studies by John Ioannidis and others which find that about one third of frequently cited scientific papers turn out to be wrong. Among the reasons is a … Continue reading

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IS MEDIAN WEALTH MUCH HIGHER IN GREECE THAN IN GERMANY?

IS MEDIAN WEALTH MUCH HIGHER IN GREECE THAN IN GERMANY?. The European Central Bank has published results of a survey on household wealth, and the results are very surprising. This Wall Street Journal article by Brian Blackstone and Nina Koeppen … Continue reading

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“THE GOLDEN AGE OF GLOBAL ECONOMIC GROWTH…HAS MOSTLY SURVIVED.”

“THE GOLDEN AGE OF GLOBAL ECONOMIC GROWTH…HAS MOSTLY SURVIVED.” Arvind Subramanian had an article in the Financial Times (April 8) in which he says: “…the golden age of global economic growth…has mostly survived.” Subramanian acknowledges the “cheerless” economic news from … Continue reading

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BANK STRESS TESTS THAT LEFT OUT THE MOST IMPORTANT STRESS.

BANK STRESS TESTS THAT LEFT OUT THE MOST IMPORTANT STRESS. This Wall Street Journal article by David Enrich and Charles Forelle describes how the two major banks in Cyprus that have failed were loading up on Greek bonds in 2010 … Continue reading

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SOME BLUFFS IN THE CYPRUS POKER GAME.

SOME BLUFFS IN THE CYPRUS POKER GAME. My description of the Cyprus crisis as a poker game may seem a little cavalier, considering the amounts that were at stake and the risks to the future of the Euro and to … Continue reading

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A RERUN OF THE GREEK CRISIS?

A RERUN OF THE GREEK CRISIS? I can’t help wondering whether to some of the players the Cyprus crisis is an opportunity to repeat moves from the Greek crisis. There must be some European ministers who think of Cyprus as … Continue reading

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THE CYPRUS CRISIS “GOES DOWN TO THE WIRE.”

THE CYPRUS CRISIS “GOES DOWN TO THE WIRE.” I woke up early five days ago and posted on the Cyprus crisis “poker game”. This article from Reuters by Michele Kambas and Costas Pitas describes the state of play today and … Continue reading

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THE CYPRUS CRISIS—THE WORLD’S BIGGEST “POKER GAME”.

THE CYPRUS CRISIS—THE WORLD’S BIGGEST “POKER GAME”. I had been planning to post today on a family reminiscence about butter, but at five this morning I woke up and decided to look in on the Cyprus financial crisis. The Cyprus … Continue reading

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WHAT THE IRISH ATE BEFORE THE COMING OF THE POTATO.

WHAT THE IRISH ATE BEFORE THE COMING OF THE POTATO. Annalisa sent me this article by Sam Dean in Bon Appetit about what the Irish ate before the arrival of the potato in the late 1600’s. They ate a wide … Continue reading

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HOW MUCH IS THE INTERNET WORTH TO YOU?

HOW MUCH IS THE INTERNET WORTH TO YOU? Kids, don’t let the term “consumer surplus” bother you. It’s just another of the unfortunate and confusing terms that economists use. You can think of it as the aggregate value that all … Continue reading

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