Archive for April 23rd, 2012

US vs Japan: What lessons can be learnt?

April 23, 2012

A nice speech by Masaki Shirakawa of BoJ.

Though it is again a comparison of Japan-90s vs US-now, it is a useful summary. He thinks as scale of bubble is lower in US, may be US will get out of the crisis faster..

Why Argentina keeps going downhill…

April 23, 2012

Daron Acemoglu and James Robinson chip in to this evergreen topic in their latest post. In their style, they link it all to Argentina’s institutions.

As most of us know Argentina was one of the richest countries in the world in the beginning of the 20th century. Since then it has been one decline after the other. This leads to two qs?

  • How did Arg decline?
  • How did Arg rise to one of the richest econs in the first place?

A/R say Argentina’s political instis were extractive and had some bit of inclusive econ instis. The latter helped deliver growth for sometime but former took over soon:

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The world’s oldest fiscal watchdog…CPB Netherlands Bureau for Economic Policy Analysis

April 23, 2012

Here is an amazing paper on an institution which is really different. It is not just the first fiscal watchdog but does some amazing functions  as well.

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