Archive for February 22nd, 2012

Politics matters even after the crisis

February 22, 2012

Given how important the role of politics is emerging in this crisis, we might again see economics depts being renamed as department of political economy (this blog also hopes this happens).

Some economists have criticised how governments have led to the crisis (John Taylor), others  have argued how  governments have been too meek to resolve the crisis (Paul Krugman) and some more have argued how lesser government is way out of the crisis (Alberto Alesina).

Atif MianAmir Sufi &  Francesco Trebbi add another dimension to the issue of crisis and govt. In this paper they say political ideology changes post a crisis which leads governments to make policies which may not be as desired. Voxeu has a summary:

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What is econometrics?

February 22, 2012

Every year, IMF releases its quarterly magazine Finance and Development. Apart from a broad theme, there is a section called Back to Basics which looks at some key economic issues/concepts. IMF has just put up a link where all the previous back to basics columns have been listed.

In Dec-11 edition, back to basics discussed this topic -What is econometrics? It is written by Sam Ouliaris.

What does ecotrics (as called by most) help in?

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