Archive for January 11th, 2012

Five Books on economic history…

January 11, 2012

Interviews on thebrowser.com are useful as they help you know so much about new books/old books etc which you have not read.

Emma Rothschild of Cambridge Univ (and Harvard) picks her five books on economic history. Her picks:

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Why Eurobonds are critical to a stronger Europe?

January 11, 2012

Christophe Chamley of Boston University in this post says why Europe needs Eurobonds.

His reason is all political powers have been created with a proper financial instrument of sovereign debt:

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Are CBO’s forecasts good enough?

January 11, 2012

CBO’s (Congressional Budget Office) independent evaluation of US fiscal deficit/debt is much celebrated. However, the crucial thing is how good are its forecasts of the US debt?

This paper by St Louis Fed econs say the record is nothing great. The idea is not to malign CBO (far from it) but to review its forecasting record and if possible help it improve. Unfortunately, the paper says it is not sure how it can advise CBO to improve. What is worse (actually only for CBO, not for most forecasters) is that random walk forecasts work better than CBO forecasts :-). So no real point is burning all that electricity and computer power churning numbers…

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