…of the post is that Fatas is thinking of the cases of non Euro countries which have suffered sharp recessions following a speculative attack. He notes that the state or…

…speculative bubbles in which agents assume some asset price will increase because it has in the past. This is one of they key features of the data. It is possible…

…1995 through 2008 then lower than predicted investment since the trough in 2009. This very much fits the story of two speculative bubbles (.com stuff then houses) followed by deleveraging….

…investment and very mild recovery since then. The most natural is that because of speculative overbuilding the US housing stock in 2008 exceeded demand given normal to sane expectations about…

…to deter any speculative currency attacks, they carried a low rate of return. That return fell even further during and after the global financial crisis as the Federal Reserve drove…

…like spending on armaments, he reasoned, when war clearly detracted from human welfare? He also wanted to subtract advertising (useless), financial and speculative activities (dangerous) and government spending (tautological, since…

…rate has been low for years giving low-cost funding for the carry-trade and speculative investments. The permanently low Fed rate reflects a lack of discipline. Firms grow accustomed to the…

…benefit” and diminishing some of the speculative figures to an infinitesimal amount by the application of an arbitrary discount rate. In defence of Clark’s earlier formulations regarding secondary benefits, he…

…can get unparalleled coverage of football events on SportScore. All this is speculative but I can easily see the bottom four or five of that bottom seven be flushed out…

…potential output, which in turn reflects demography and what looks like a slowdown in technological progress. That’s more speculative. But the low natural rate is as solid a result as…