Monday, 3 June 2013

End May Links

Nick Rowe's Monetary stimulus vs financial stability is a false trade-off is a great description of general equilibrium outcomes as against the micro-mechanisms that they arise from: lower interest rates may induce me to save less from my (exogenous) income; but at the macro level, lower interest rates do not imply that there will be a lower savings rate applied to the (endogenous) national income.

Simon Wren-Lewis and George Kerevan discussing, in completely different ways, the rise of UKIP. My favourite UKIP post though was this spoof from the Daily Mash.

Paul Krugman makes the point that needs made again and again: to the extent that something which we might call "austerity" is needed, this austerity should be about working harder and not seeing the rewards in terms of higher consumption i.e. more work, less play; it should not be about mass unemployment.

Fascinating: French fertility fall

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