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Tyler Cowen does his normal thing of making a lot of very good points other people aren’t. For me these two are key: The rate of unemployment in Japan, last I checked, was 4.1%. Yes, they calculate it differently than we do, and yes in their heyday they had an even lower rate of unemployment. […]
During this undeniably tragic time I’ve noticed a little fallacy flying around again – that the latest quake will at least be good for the economy. This is of course, not the case. Not only does the recent earthquake have massive social costs, but even if we force ourselves to ignore all the pain inflicted […]
Over at Kiwiblog there is discussion of the Democrat loss in Massachusetts. Reading through the piece David Farrar stated: Priorities. Obama’s fiscal stimulus did little bar increase the deficit massively, and turn the country into deficit hawks. Unemployment went well beyond his worst forecasts Now I found this statement unusal in that David’s writing is […]
Bill English says it is now time for New Zealand to begin pulling back from its stimulus measures. The RBNZ also says that they won’t lift rates because they expect fiscal stimulus to be withdrawn. However, I have a question. Other then the cycle way (which will still be constructed) and permanent tax cuts (which […]
There have been accusations from some blogs that the NZ fiscal stimulus is too small relative to the rest of the world (No right turn, the Standard). However, I didn’t think this was right. Now the OECD has shown that this isn’t right: Now this isn’t to say that the fiscal response is right – […]
Chris Worthington from Infometrics has spoken out against a fiscal stimulus in NZ in the current environment. I agree, as I have said before. Note, I also raised some criticisms of my idea which could be applied here. Overall, there is a time and a place for special, temporary, fiscal policy (although, even in this […]