Archive for January 17th, 2012

Why US needs high inflation because of the crisis?

January 17, 2012

Fernando M. Martin of St Louis Fed compares the US deficits so far.

Us has not had a surge in primary deficits as seen now for a while:



Building European Fiscal Union- Some lessons from US Fiscal Union

January 17, 2012

C. Randall Henning and Martin Kessler of Peterson Institute for International Economics write this wonderful paper.

European policymakers always fancy comparing US with Europe. How about learning some lessons from how US achieved its fiscal union? It was a tough task  and had a much longer history of adjustments compared to the very short  history of EMU. Makes the task all the harder for EMU as they have a much shorter horizon to bring the changes.

The paper looks at five broad phases in which changes came:


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