Category Archives: Dubious statistics

Former BIS Chief Economist Warns of Massive Debt Defaults, Need for Debt Jubilee; Fingers Europe as First in Line

Even though the former chief economist of the BIS calls for a debt jubilee, it’s only part of the medicine needed to get the economy out of the ditch.

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Lost in Assumptions: Assessing the Economic Impact of Migrants

Yves here. This post is more important than it seems for several reasons. First, it reveals one of the dirty secrets of modeling: if you tweak assumptions within plausible ranges, you can come up with wildly different outcomes. Second, it identifies what some of these assumptions are in the now-hot-topic of whether letting more migrants […]

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How the Labor Cost Competitiveness Myth is Making the Eurozone Crisis Worse

A new article makes a devastating attack on a fundamental belief driving Eurozone policy, that the member economies need to be made more “competitive,” meaning labor needs to be squeezed, for the currency union to achieve more growth.

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China’s Contradictory Aims, Greater International Role Versus Domestic Economic Control, HIt Breaking Point

China appears to be in denial that it can’t have more open financial markets and maintain the same degree of control over the economy that it once enjoyed.

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