Paul Krugman: Correlation, Causality, and Casuistry: "One last thing: even if you take Dube’s forward-looking regression as a causal relationship, which you shouldn’t, notice how weak that relationship is in the relevant range. It looks as if raising debt from 50 to 150 percent of GDP, other things equal, reduces growth by around 0.1 percentage point over the next three years.
Payments to 4.2 Million Borrowers Covered by Foreclosure Agreement to Begin April 12 WASHINGTON — Payments to 4.2 million borrowers are scheduled to begin on April 12 following an agreement reached by the Office of the Comptroller of the Currency and the Federal Reserve Board w
Patrick A Messerlin, 28 April 2011At the end of this week the world will know whether, after ten years of negotiations, the Doha Round is still stuck in a “game of chicken”. This column argues that the agreement in goods still offers a good basis for a deal as it provides the most precious virtue, i.e. certainty and insurance.