Archive for February 19th, 2014

Melting ice caps and the economic impact of opening the northern sea route..

February 19, 2014

Blind focus on just macro and econ stuff and ignoring things like geographical changes (which then impact economics),makes the discipline so narrow. Lot of economics is driven by geographies after all whether it is economies or people, they belong to a certain geography. But the textbooks (and research) hardly mention the role of geography. So hardly things are covered in this space.

So got this newsletter from CPB Netherlands about this seminar (paper here) on the topic of Northern Sea Route. NSR apparently is a sea route along the coast of Russia which is open just for two months as it is remains frozen in rest. Now the ice seems to be melting in the region due to global warming and this means the route can remain open for most part of the year.

The paper looks at the econ implications:

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Of dentists and economists – the importance of a consistent economic policy framework..

February 19, 2014

A nice speech by Jens Weidmann, President of the Deutsche Bundesbank.

It is obviously based on the famous Keynes quotes on how econs would be seen doing a good job if they are as respected as dentists:

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