Source: Apple’s tax affairs: a symptom of the robber-baron culture – Tax Justice Network.
Shawshank Redemption — Money in Prison
15 Sep 2016 Leave a comment
in applied price theory, monetary economics Tags: Shawshank Redemption
NZ inflation rate since 1991 with 1% CPI bias adjustment
13 Sep 2016 Leave a comment
in economic history, inflation targeting, macroeconomics, monetary economics, politics - New Zealand Tags: CPI bias, inflation rate
The inflation rate is overstated by about 1% each year because of difficulties in measuring new goods entering the consumer price index and improvements in the quality of existing goods in the consumer price index. With that adjustment of 1% in the chart below, a common measure of that bias, New Zealand has had zero to negative inflation for four years
Source: Reserve Bank of New Zealand Key Statistics.
One of the reasons for an inflation target band of 1 to 3% is an inflation rate of 1% is actually an inflation rate of 0%.
Real GDP Per Capita and the Standard of Living
31 Aug 2016 Leave a comment
in development economics, macroeconomics Tags: living standards
The Solow model and catch-up growth
31 Jul 2016 Leave a comment
in development economics, economic growth, economics, growth miracles Tags: Solow convergence
Four Reasons Financial Intermediaries Fail
28 Jul 2016 Leave a comment
in applied price theory, business cycles, macroeconomics, monetary economics Tags: bank panics, banks runs
Best defence of Employment Contracts Act is a @FairnessNZ graphic
24 Jul 2016 1 Comment
in economic growth, economic history, labour economics, macroeconomics, politics - New Zealand, unions Tags: economic reform, Employment Contracts Act, employment protection laws, employment regulation, Leftover Left, neoliberalism, pessimism bias
Source: Low Wage Economy | New Zealand Council of Trade Unions – Te Kauae Kaimahi, with extra annotations by this blogger.
Tertiary attainment of 25-34 and 55-64 year-olds across the OECD
06 Jul 2016 Leave a comment
in economic growth, economics of education, human capital, labour economics, macroeconomics Tags: endogenous growth theory, graduate premium
Some countries have experienced large increases in the number of young people graduating from University when compared to their parents. Germany and the USA aside, all countries have experienced a noticeable increase in young adults with tertiary degrees.
Source: Education at a Glance 2015 – © OECD 01-01-2015.
If human capital is such a major driver of economic growth, should not these countries with large increases in tertiary educated workers be anticipating a growth spurt? The gaps in tertiary attainment across the OECD are much less than they used to be for young adults. Ireland’s burst in tertiary educated workers was after the Celtic Tiger years, not before or during.
Source: Education at a Glance 2015 – © OECD 01-01-2015.
35 Years of the World Economy
04 Jul 2016 Leave a comment
in development economics, economic growth, economic history, growth disasters, growth miracles, macroeconomics Tags: The Great Escape, The Great Fact
% difference between UK’s GDP per capita and EU founding members since 1950
25 Jun 2016 Leave a comment
in economic growth, economic history, international economics, International law
Eurosclerosis started in the 1970s while the British disease came to an end with the election of the Thatcher government so the chart paper is misleading.
Source: Britain’s EU membership: New insight from economic history | VOX, CEPR’s Policy Portal.
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