A Fiscal Fantasyland?

A Fiscal Fantasyland?

The May 4 issue of the London “Economist” headlined that ‘Governments are living in a fiscal fantasyland’. It focussed on the four biggest economies – the US, China, EU and Japan – although many smaller ones would also illustrate its proposition, that each was losing control of its fiscal position with rising government debt.

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Fans for Forecasts

Fans for Forecasts

We are going into the budget season when economic forecasting becomes especially prominent. There is a huge gap between how professional forecasters think about the exercise and how the commentariat treats forecasts. Here are some insights into the way those forecasters think, even if it is boring compared to what is in the public rhetoric.

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