F585 The Global Economy
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Russia raises interest rates to 10.5%

Russia raises interest rates to 10.5% | F585 The Global Economy | Scoop.it
Adam Dean's insight:

Russia's central bank has hiked interest rates again in order to appreciate (or at least slow down depreciation) of the rouble and reduce inflationary pressures. Relatively high interest rates serve to encourage hot money inflows  - increasing the demand and value of the rouble. In addition, high rates act as an incentive for Russians to keep their money in Russian banks, reducing hot money outflows. High interest rates help to curb inflation by increasing the cost of borrowing and the reward for saving. This may lead to a decrease in consumer expenditure and investment, a reduction in aggregate demand, and reduced demand-pull inflation. However, borrowers suffer as the cost of servicing their debt increases. Furthermore, a decrease in AD can lead to a recession and cyclical unemployment.

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Adam Dean's curator insight, December 11, 2014 5:25 PM

Russia's central bank has hiked interest rates again in order to appreciate (or at least slow down depreciation) of the rouble and reduce inflationary pressures. Relatively high interest rates serve to encourage hot money inflows  - increasing the demand and value of the rouble. In addition, high rates act as an incentive for Russians to keep their money in Russian banks, reducing hot money outflows. High interest rates help to curb inflation by increasing the cost of borrowing and the reward for saving. This may lead to a decrease in consumer expenditure and investment, a reduction in aggregate demand, and reduced demand-pull inflation. However, borrowers suffer as the cost of servicing their debt increases. Furthermore, a decrease in AD can lead to a recession and cyclical unemployment.

Adam Dean's curator insight, December 11, 2014 5:25 PM

Russia's central bank has hiked interest rates again in order to appreciate (or at least slow down depreciation) of the rouble and reduce inflationary pressures. Relatively high interest rates serve to encourage hot money inflows  - increasing the demand and value of the rouble. In addition, high rates act as an incentive for Russians to keep their money in Russian banks, reducing hot money outflows. High interest rates help to curb inflation by increasing the cost of borrowing and the reward for saving. This may lead to a decrease in consumer expenditure and investment, a reduction in aggregate demand, and reduced demand-pull inflation. However, borrowers suffer as the cost of servicing their debt increases. Furthermore, a decrease in AD can lead to a recession and cyclical unemployment.

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Autumn statement: six graphs you need to see

Autumn statement: six graphs you need to see | F585 The Global Economy | Scoop.it
Chancellor George Osborne will present his latest spending and saving plans alongside new forecasts for the economy on Wednesday. Here are six key graphs to see before he delivers his autumn statement
Adam Dean's insight:

The Autumn Statement is published tomorrow. Given 2015 is an election year, expect something a bit more interesting than previous statements. These charts give some context - where is the UK now, where has it come from, and where is it expected to go.

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Adam Dean's curator insight, December 3, 2014 4:47 AM

The Autumn Statement is published tomorrow. Given 2015 is an election year, expect something a bit more interesting than previous statements. These charts give some context - where is the UK now, where has it come from, and where is it expected to go.

Adam Dean's curator insight, December 3, 2014 4:48 AM

The Autumn Statement is published tomorrow. Given 2015 is an election year, expect something a bit more interesting than previous statements. These charts give some context - where is the UK now, where has it come from, and where is it expected to go.

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Gross national happiness - can we measure a UK feelgood factor?

Gross national happiness - can we measure a UK feelgood factor? | F585 The Global Economy | Scoop.it
Official data shows the UK economy continuing to recover but do such figures reflect how people actually feel? We look beyond GDP for signs of gross national happiness
Adam Dean's insight:

"There is more to life than the cold numbers of GDP and economic statistics".

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Adam Dean's curator insight, October 30, 2014 5:32 AM

"There is more to life than the cold numbers of GDP and economic statistics".

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Cameron pledges tax cuts 'for 30m'

Cameron pledges tax cuts 'for 30m' | F585 The Global Economy | Scoop.it
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Adam Dean's curator insight, October 1, 2014 9:42 AM

Lot here to convince voters that they'll be better off under a Tory government next time round. It will be interesting to see how well off the average Briton is over the course of this current parliament. Currently, with wages failing to keep up with inflation, people are worse off now than they were in 2010. If this continues into next year, Britons will be worse off at the end of parliament than they were at the beginning for the first time since 1920. Expect Labour to focus on that stat, along with the decision to cut the top rate of tax earlier in this parliament.

Adam Dean's curator insight, October 1, 2014 9:43 AM

Lot here to convince voters that they'll be better off under a Tory government next time round. It will be interesting to see how well off the average Briton is over the course of this current parliament. Currently, with wages failing to keep up with inflation, people are worse off now than they were in 2010. If this continues into next year, Britons will be worse off at the end of parliament than they were at the beginning for the first time since 1920. Expect Labour to focus on that stat, along with the decision to cut the top rate of tax earlier in this parliament.

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EU to pay struggling peach growers

EU to pay struggling peach growers | F585 The Global Economy | Scoop.it
Adam Dean's insight:

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

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Adam Dean's curator insight, August 12, 2014 8:23 AM

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

Adam Dean's curator insight, August 12, 2014 8:24 AM

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

Adam Dean's curator insight, August 12, 2014 8:24 AM

Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?

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Angola's new import tariffs putting the squeeze on the poorest residents in one of the world’s most expensive cities

Angola's new import tariffs putting the squeeze on the poorest residents in one of the world’s most expensive cities | F585 The Global Economy | Scoop.it
In Luanda’s Jumbo supermarket, a half-litre tub of imported vanilla ice-cream used to cost $25 (£15), testament to the Angolan capital’s rank as one of the world’s most expensive cities.

Via Geoff Riley
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India's trade: full list of exports, imports and partner countries

India's trade: full list of exports, imports and partner countries | F585 The Global Economy | Scoop.it
Cameron has spent the week in India discussing trade relations with Britain. What are India's main exports and imports, and who are its key trading partners?
Adam Dean's insight:

Interesting data on India's import and export patterns. India's growth in trade shows an increased willingness to open up the world's second largest (by population) economy.

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Adam Dean's curator insight, March 24, 2014 7:20 AM

Interesting data on India's import and export patterns. India's growth in trade shows an increased willingness to open up the world's second largest (by population) economy.

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How five years of rock-bottom interest rates have changed Britain

How five years of rock-bottom interest rates have changed Britain | F585 The Global Economy | Scoop.it
Five years ago on Wednesday, the Bank of England slashed rates to a record low of 0.5% - and it's still there. For some it's been good news, for others bad
Adam Dean's insight:
The base rate has been held at an abnormally low level (average rate since creation of B of E is about 5%) for 5 years. This article looks at the winners (borrowers, home owners, stock markets) and losers (savers) of expansionary monetary policy.
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Adam Dean's curator insight, March 5, 2014 3:38 AM

The base rate has been held at an abnormally low level (average rate since creation of B of E is about 5%) for 5 years. This article looks at the winners (borrowers, home owners, stock markets) and losers (savers) of expansionary monetary policy. 

Adam Dean's curator insight, March 5, 2014 3:39 AM
The base rate has been held at an abnormally low level (average rate since creation of B of E is about 5%) for 5 years. This article looks at the winners (borrowers, home owners, stock markets) and losers (savers) of expansionary monetary policy.
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The Economic Case for Raising the Minimum Wage

The minimum wage helps support family incomes, reducing inequality and poverty, but as a slide deck from the Council of Economic Advisers shows, as the real ...
Adam Dean's insight:

The case for raising the NMW in the US.

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Adam Dean's curator insight, February 27, 2014 2:15 AM

The case for raising the NMW in the US.

Adam Dean's curator insight, February 27, 2014 2:15 AM

The case for raising the NMW in the US.

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Ukrainian currency hits 10-year low

Ukrainian currency hits 10-year low | F585 The Global Economy | Scoop.it
Adam Dean's insight:
Declining value of hryvnia - causes and consequences.
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Adam Dean's curator insight, February 26, 2014 9:50 AM

Declining value of hryvnia - causes and consequences.

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The Big Mac index

The Big Mac index | F585 The Global Economy | Scoop.it
Authoritative weekly newspaper focusing on international politics and business news and opinion.
Adam Dean's insight:

The Big Mac Index and purchasing power parity (PPP).

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Adam Dean's curator insight, December 12, 2013 10:44 AM

3.2 Exchange Rates - The Big Mac Index and the theory of purchasing power parity (PPP).

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OECD literacy leagues: poverty and inequality blamed for England's results

OECD literacy leagues: poverty and inequality blamed for England's results | F585 The Global Economy | Scoop.it
Problem may lie in lack of encouragement and opportunity for people to study once they have left school
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Adam Dean's curator insight, October 9, 2013 7:37 AM

2.6 Supply-side and international competitiveness issues facing England. Despite constant tinkering, England still performs relatively poorly in literacy and numeracy.

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China's fiscal policy over past 5 years |Policy and Regulation |chinadaily.com.cn

During the five year period, the central government's fiscal revenue totaled nearly 21.9 trillion yuan and central fiscal expenditure totaled around 24.9 trillion yuan.
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Falling oil price costs Russia $100bn

Falling oil price costs Russia $100bn | F585 The Global Economy | Scoop.it
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Adam Dean's curator insight, November 24, 2014 6:12 PM

Russia is facing a perfect storm. Sanctions that restrict the flow of capital, a weakening currency, and a fall in the price of it's major export. A part of the BRICs that have seen strong growth in the last decade, it could be about to enter a recession. With Putin playing hardball it looks as if there is little chance of its woes abating any time soon.

Adam Dean's curator insight, November 24, 2014 6:16 PM

Russia is looking to prop up the price of oil by limiting supply and boost exports revenue. This suggests that Russia expects little movement in the way of demand (PED inelastic). Does Russia have sufficient market power to make a difference to the price of oil?

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A Global Economic Malaise

A Global Economic Malaise | F585 The Global Economy | Scoop.it
Too many finance ministers and central bankers are unwilling or ill prepared to respond to a world economy on the verge of a recession.
Adam Dean's insight:

Macro policy advice from the NY Times.

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Adam Dean's curator insight, October 12, 2014 7:43 AM

Macro policy advice from the NY Times.

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ECB cuts rates and launches stimulus

ECB cuts rates and launches stimulus | F585 The Global Economy | Scoop.it
Adam Dean's insight:

Fear of deflation sparks further expansionary monetary policy in the Eurozone.

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Adam Dean's curator insight, September 7, 2014 8:30 AM

2.5 Fear of deflation sparks further expansionary monetary policy in the Eurozone.

Adam Dean's curator insight, September 7, 2014 8:32 AM

Fear of deflation sparks further expansionary monetary policy in the Eurozone.

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A2 Macro - Output gap: Wasted potential

A2 Macro - Output gap: Wasted potential | F585 The Global Economy | Scoop.it
THE rich world is at long last clawing its way from the economic ditch of the Great Recession. This year may be the first since 2007 in which all big advanced...

Via Saint Martin's - Economics
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Keeping up with the Schmidts

Keeping up with the Schmidts | F585 The Global Economy | Scoop.it
AS THE football World Cup approaches, so too does the prospect of another drubbing by Germany. The England team crashed out of the last tournament, in 2010, in a...

Via Geoff Riley
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Geoff Riley's curator insight, April 24, 2014 11:11 AM

Important article that focuses on some of the structural weaknesses in the UK labour market - evidence too of government failure! "They waste public money, do not encourage firms to invest in training and do nothing to plug a yawning skills gap"

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Key points of Budget: At-a-glance

Key points of Budget: At-a-glance | F585 The Global Economy | Scoop.it
Adam Dean's insight:

Budget 2014 - key points. Good news for savers, those on low wages, drinkers and frequent flyers. Not so good for smokers and those hovering around the 40% tax bracket (fiscal drag).

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Adam Dean's curator insight, March 19, 2014 10:30 AM

Budget 2014 - key points. Good news for savers, those on low wages, drinkers and frequent flyers. Not so good for smokers and those hovering around the 40% tax bracket (fiscal drag).

Adam Dean's curator insight, March 19, 2014 10:31 AM

Budget 2014 - key points. Good news for savers, those on low wages, drinkers and frequent flyers. Not so good for smokers and those hovering around the 40% tax bracket (fiscal drag).

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Why raising the minimum wage is not the best way to help Britain's poorest

Why raising the minimum wage is not the best way to help Britain's poorest | F585 The Global Economy | Scoop.it
Adam Dean's insight:
NMW hike - the IEA looks at the hidden picture.
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Adam Dean's curator insight, February 27, 2014 7:39 AM

NMW hike - the IEA looks at the hidden picture.

Adam Dean's curator insight, February 27, 2014 7:40 AM
NMW hike - the IEA looks at the hidden picture.
Adam Dean's curator insight, February 27, 2014 7:40 AM
NMW hike - the IEA looks at the hidden picture.
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Pay body urges 3% minimum wage rise

Pay body urges 3% minimum wage rise | F585 The Global Economy | Scoop.it

Via Adam Dean
Adam Dean's insight:

NMW to increase in real terms for first time in 6 years. Some argue that this may create real wage unemployment. Setting a price floor above the equilibrium wage will lead to an excess supply of workers = unemployment. In addition, critics warn of cost push inflation and damage to SME's who rely on low cost labour.

 

Others believe that NMW is a key tool to reduce the increasing income/wealth inequality, help reduce in work poverty, and boost AD (as low income earners tend to have a high MPC). 

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Adam Dean's curator insight, February 27, 2014 1:52 AM

NMW to increase in real terms for first time in 6 years. Some argue that this may create real wage unemployment. Setting a price floor above the equilibrium wage will lead to an excess supply of workers = unemployment. In addition, critics warn of cost push inflation and damage to SME's who rely on low cost labour.

 

Others believe that NMW is a key tool to reduce the increasing income/wealth inequality, help reduce in work poverty, and boost AD (as low income earners tend to have a high MPC). 

Adam Dean's curator insight, February 27, 2014 1:52 AM

NMW to increase in real terms for first time in 6 years. Some argue that this may create real wage unemployment. Setting a price floor above the equilibrium wage will lead to an excess supply of workers = unemployment. In addition, critics warn of cost push inflation and damage to SME's who rely on low cost labour.

 

Others believe that NMW is a key tool to reduce the increasing income/wealth inequality, help reduce in work poverty, and boost AD (as low income earners tend to have a high MPC). 

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Economics Essays: UK economy forecasts for 2014

Economics Essays: UK economy forecasts for 2014 | F585 The Global Economy | Scoop.it
Adam Dean's insight:

Quick review of UK economic forecasts for 2014.

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Nissan's Ghosn warns UK over EU exit

Nissan's Ghosn warns UK over EU exit | F585 The Global Economy | Scoop.it
Adam Dean's insight:

A warning for Euro-sceptics. Many foreign owners of UK capital enjoy the benefits of free trade with continental Europe. Leaving the EU may jeopardise that benefit and, in turn, jeopardise UK jobs.

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Adam Dean's curator insight, November 8, 2013 2:19 AM

3.4 Topical given today's ESRC conference at CCCU. Nissan warn UK regarding EU membership.

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China admits pollution brought about 'cancer villages' — RT News

China admits pollution brought about 'cancer villages' — RT News | F585 The Global Economy | Scoop.it
The Chinese government has admitted for the first time that so called ‘cancer villages’ exist, as decades of pollution take their toll on the health of Chinese citizens.
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