Three problems afflict formal-sector finance in India today: capital controls, taxation, and financial policy. The most important financial products traded in the formal sector in India — the stock market index (Nifty) and the exchange rate (the rupee) — are under enormous pressure as a consequence.
One dimension, that has been emphasised in the . . . → Read More: The two escape routes away from domestic formal-sector finance
University of California (Berkeley) economist Brad DeLong took my late-in-life education on economic issues to a new level. I’ve plenty more to learn, of course, but I enjoyed his discussion.
Here’s a snippet from his article in the Seeking Alpha web site:
In such a setup, the conclusion of Mankiw and . . . → Read More: Monetary vs. Fiscal Policy
Douglas Holtz-Eakin, former CBO director, discussed the negative effects of the new fiscal policy in the U.S (link).
Robert Barro and Charles Redlick wrote an op-ed in WSJ (link) on their original paper (link) where they discuss the macroeconomic effects of fiscal stimulus and construct long-term time-series on U.S macroeconomic data to examine whether real GDP increases follows the spending multipliers and whether reductions in marginal tax rates, rather than spending increases, . . . → Read More: The Macroeconomic Effects Of Stimulus Spending