In today’s hyper-connected world, analysis has become a mere commodity. Retrieving it – let alone information – is like drinking from a fire hydrant. For example, Googling “global economic growth" yields 61 million results; “Eurozone deflation”, 1 million; “tensions in south-east Asia”, 2 million, and so on... It should therefore come as no surprise that we get easily lost in this myriad of information and analysis.
In the face of analysis overload, it becomes invaluable to sift, select and frame the issues and opinions that matter. This is why The Monthly Barometer came up with a Weekly Selection of op-eds and articles. Each week, we select just five of them (out of hundreds that are sent to us by our network) that we frame in two or three sentences. These five pieces convey in a succinct and accessible manner the thinking of people whose opinions matter the most in a variety of macro fields: economics, geopolitics, society, environment, technology and psychology. They constitute a “formidable” shortcut to complex analysis by offering insights and snapshots that can be read in just a few minutes and are easy to digest. For those keen to make sense of today’s world, The Weekly Selections are a must-read. They constitute the best antidote to information and analysis overload.
As a new service, The Monthly Barometer is now offering to its subscribers, and a potentially much larger group, a curation of all The Weekly Selections. On any given macro issue, it will be possible to access the best thinking at the tap of key. This service should therefore be of particular interest to researchers and students enabling them as it does to grasp with ease “who said what and when”.
Subscribers of the Monthly Barometer can access curated Weekly Selections as part of their subscription.
Researchers and students who do not wish to subscribe to The Monthly Barometer can access them on a pay-as-you-wish basis. Please pay an amount that corresponds to the value you attach to the product. If you don’t want to pay, remember the following: “If something online is free, you are not the customer – you are the product” (Jonathan Zittrain, George Bemis Professor of Law at Harvard Law School and the Harvard Kennedy School of Government).
Curation of weekly selections – A distillation of the opinions that count!
- REVIEW OF BOOKS
Adair Turner, "Japan’s Wrong Way Out"
Project Syndicate - 5 Feb 2016
The author of “Between Debt and the Devil” explains why negative interest rates (or an expansion of QE) will not offset the strong deflationary forces engulfing Japan. Central banks and governments together never run out of policy ammunition to offset deflation, because they can always finance tax cuts or increase public expenditure with printed money. This is what he recommends that the Japanese authorities should do: permanently writing off some of the BOJ’s huge holdings of Japanese government bonds and canceling the planned sales-tax increase. (reads in about 10 mn)
Published in Weekly selection 12 February 2016
Charles Bean, "Causes and consequences of persistently low interest rates"
VOXeu - 23 Oct 2015
This article by one of the co-authors of the Geneva report (“Low for Long? Causes and Consequences of Persistently Low Interest Rates”) is a must read for any investor or economist. The report suggests that real interest rates will eventually return to more normal levels, but in the meantime deflationary traps are more likely, as are financial boom-bust cycles. It considers in particular demographic developments that are likely to have been an important factor in the increase of the propensity to save. (reads in about 13-15mn)
Published in Weekly selection 24 October 2015
Carmen Reinhart, "Inflation, the Fed, and the Big Picture"
Project Syndicate - 3 Sep 2015
The global inflation environment is the tamest since the early 1960s. Inflation in nearly half of all countries (advanced and emerging, large and small) is now at or below 2%; and there are “only” 14 cases of high inflation. The risk for the world economy is actually tilted toward deflation, but it is too early to conclude that inflation is a problem of the past, because other external factors are working in the opposite direction, particularly in emerging markets. (reads in about 5mn)
Published in Weekly selection 5 September 2015
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