Found 1323 article(s) in category 'Economic Growth'

Deregulating Is Not So Easy

Deregulating Is Not So Easy. Cass Sunstein, July 25, 2017, Opinion, “In what sounded like a major announcement, the Trump administration last week highlighted numbers showing it was making big strides in controlling regulations. It is true that the pace of rulemaking has slowed dramatically. Thus far, the Office of Information and Regulatory Affairs has approved just 41 regulations, meaning that we might see fewer than 100 in all of 2017. That would be less than one-fifth of the average under the most recent Republican president, George W. Bush.” Link

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Diagnostic Expectations and Stock Returns

Diagnostic Expectations and Stock Returns. Andrei Shleifer, July 2017, Paper, “We revisit La Porta’s (1996) finding that returns on portfolios of stocks with the most optimistic analyst long term earnings growth forecasts are substantially lower than those for stocks with the most pessimistic forecasts. We document that this finding still holds, and present several further facts about the joint dynamics of fundamentals, expectations, and returns for these portfolios. We then propose a new approach to modeling belief formation and over-reaction to news that explains these facts, based on a portable psychological model of judgment by representativeness.Link

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The G20’s Misguided Globalism

The G20’s Misguided Globalism. Dani Rodrik, July 6, 2017, Opinion, “This year’s G20 summit in Hamburg promises to be among the more interesting in recent years. For one thing, US President Donald Trump, who treats multilateralism and international cooperation with cherished disdain, will be attending for the first time. Trump comes to Hamburg having already walked out of one of the key commitments from last year’s summit – to join the Paris climate agreement “as soon as possible.” And he will not have much enthusiasm for these meetings’ habitual exhortation to foreswear protectionism or provide greater assistance to refugees.Link

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China Could Export a Recession to Everyone Else

China Could Export a Recession to Everyone Else. Kenneth Rogoff, July 5, 2017, Video, “Soaring debt levels in China were a serious concern as the fallout of any crisis would hit everyone else, said a former International Monetary Fund (IMF) economist on Thursday. “If there’s a country in the world which is really going to affect everyone else and which is vulnerable, it’s got to be China today,” Kenneth Rogoff, economics professor at Harvard University, told CNBC’s “Squawk Box” on Thursday.Link

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Russia’s future looks bleak without Economic and Political Reform

Russia’s future looks bleak without Economic and Political Reform. Kenneth Rogoff, July 5, 2017, Opinion, “When the Russian president, Vladimir Putin, meets his US counterpart, Donald Trump, at this week’s G20 summit in Hamburg, he will not be doing so from a position of economic strength. To be sure, despite the steep drop in oil prices that began three years ago, Russia has managed to escape a deep financial crisis. But while the economy is enjoying a modest rebound after two years of deep recession, the future no longer seems as promising as its leadership thought just five years ago. Barring serious economic and political reform, that bodes ill for Putin’s ability to realise his strategic ambitions for Russia.Link

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Populism and the Economics of Globalization

Populism and the Economics of Globalization. Dani Rodrik, June 2017, Paper, “Populism may seem like it has come out of nowhere, but it has been on the rise for a while. I argue that economic history and economic theory both provide ample grounds for anticipating that advanced stages of economic globalization would produce a political backlash. While the backlash may have been predictable, the specific form it took was less so. I distinguish between left-wing and right-wing variants of populism, which differ with respect to the societal cleavages that populist politicians highlight. The first has been predominant in Latin America, and the second in Europe. I argue that these different reactions are related to the relative salience of different types of globalization shocks.Link

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