Japan's Abenomics and the Money Multiplier

In recent months, Japan – the world´s third largest economy - has returned to center stage. On April 4, Japan embarked on a daring economic experiment. After two decades of stagnant growth and deflation, Prime Minister Shinzo Abe presented a “three arrow” program: Monetary stimulus to end deflation – the Bank of Japan launched the largest…

Economists: adventures and misadventures

Economists have been in great demand since the beginning of the crisis. This, by the way, was a welcome change, since in the preceding years, those that are now called ‘The Great Moderation’, people did not know what to do with us. We went on, year after year, drawing the same diagrams on the blackboard,…

Will Technological Development Take Your Job?

In The Terminator, a highly intelligent computer becomes self-aware and starts a nuclear holocaust that wipes out the human race, leaving only a few brave souls left to fight the robot soldiers, impersonated by Arnold Schwarzenegger. The fictional date of this catastrophic event – August 27, 1997 – has long since come and gone without…
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