A lot of pro fiscal stimulus arguments in the USA and the UK come from the classical zero lower bound (ZLB) assumption, … Continue reading “Stimulus policies are no substitute for supply-side reforms”

Europe is once again on the edge of the cliff. Spain is out of money to finance itself and its banks; Greece, … Continue reading “Sweden and Germany pave the way for Europe”

As its crisis continues, more and more people are calling for Greece to follow the Argentine 2001 example and devalue its currency. This … Continue reading “The Argentine example isn’t helpful to Greece”

Last month saw the first eurozone default. Greece defaulted on its debt, but this event, contrary to popular belief in … Continue reading “After default: options for recovery in Greece”