While everyone is pondering the ways in which Eurozone is not an optimal currency area, I found myself worrying about the ways in which Rupeezone is not an optimal currency area. In the Financial Express today, I have a column: Addressing the problems of Rupeezone.
Here are interesting materials on Greece which set the stage for this:
- A money too far by Paul Krugman, in the New York Times.
- A response by Greg Mankiw on his blog. He refers to this AER article from 1986 by Christine Romer, and this article by Christopher Hanes in AER in 1993.
- A response by Paul Krugman on his blog.
- A blog post by David Beckworth.
- On the subject of labour mobility, Casper van Ewijk and Michiel van Leuvensteijn have an important column on voxEU making the link between labour market mobility and the transactions taxes which governments impose on real estate transactions.
- Here is a column by Feldstein on these issues back in 1998.
This is an interesting demo of economics happens today: an interleaving between journal articles, newspaper columns and blog posts.