Good news, in its Nov-Dec 2012 issue Challenge publishes my analysis on Russia’s economic diversification potential.
In the paper entitled “Is Russia Still a BRIC? Some Observations on the Economy and Its Potential for Diversification” I try to raise a balanced optimism commenting on growth in new local sectors/firms, the so-called “gazelles” as referred to in the Russian media, that specifically focus on domestic demand. Certainly macroeconomic challenges persist, but Continue reading
FRBNY has just released its Quarterly Report on Household Debt and Credit for Q2 2012 with a follow up update from FRBNY Liberty Street Economics.
In the update to their earlier report, FRBNY economists confirm continued overall deleveraging trend of the US households.
While on relative scale trends appear in somewhat opposite directions (e.g. credit cards vs. student loans chart vs. mortgage debt), on aggregate households are reducing their debt positions, primarily by a) reducing the volumes of new mortgage liabilities; b) paying out existing mortgage; and c) due to foreclosures/default. Continue reading
I’m attending a two day 21st annual H. Minsky Conference organized by the Levy Economics Institute.
Really good presentations and interesting discussions. I’ll try to share more detailed impressions later on (most likely in the classroom), for now though a brief remark.
One of the speakers suggested that Central Banks’ focus is primarily stability of the financial system, causing a mixed reaction in the audience. Continue reading
No economic estimate is ever precise, much less if it is derived from high level accounting, yet, some “directional” data offers some substance to the ongoing “slow recovery” debate. Only two points are considered below: Continue reading
Dr. El-Erian says it all again: “the way we manage money, as a society, has to evolve…”
El-Erian on money management
That’s exactly the point on “managed capitalism” in one of the earlier posts.
While the world is zoomed on Greece and euro’s fate, elsewhere the flips in macroeconomy are assuming their own crisis-prone dynamic. A case at hand, the fragile economy of Armenia as suggested in the Policy Forum Armenia (PFA) report on Armenian economy. Continue reading
Great news! AngloHigher publishes my piece on Innovative Fiscal Policy and Social Totality. Follow the link for more
Following up on the topic [rather quickly], some newer discussions seem to reconfirm the earlier view: of pragmatic fiscal policy aimed at sustainable development. There’s been talk on problems of access to education (and quality) and manufacturing jobs drain. Continue reading
Two recent extensive commentaries on changing economy deserve our attention.
There is now a strong chance the euro-zone as it is will break up . Things are moving rather quickly. Some of the most pragmatic scenarios are well summarized by Gavyn Davies of FT. There are also a lot of legal problems of immediate breakup. Continue reading
All are welcome:
Innovative Fiscal Policy and Economic Development In Transition Economies
Featuring Dr. Aleksandr V. Gevorkyan, Author & Professor, New York University
Date: Wed, Nov 16, 2011
Location: NYU-SCPS Building @ 7th East 12th Street, Room 1123
Time: 5:00PM – 8:00PM Continue reading