Category Archives: Uncategorized

New paper: is Russia still a BRIC?

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

Households Deleveraging from FRBNY

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

Central banks

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

Managed capitalism?

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