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Russia raises interest rates to 10.5%

Russia raises interest rates to 10.5% | IB Macroeconomics | 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 5:26 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 | IB Macroeconomics | 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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Forget the 1%

Forget the 1% | IB Macroeconomics | Scoop.it
AMONG the most controversial of Thomas Piketty’s arguments in his bestselling analysis of inequality, “Capital in the Twenty-First Century”, is that wealth is...
Adam Dean's insight:

2.3 Wealth inequality returning to 18th century levels. Such inequality increases the risk of social reproduction and a reliance on inheritance rather than innovation to accumulate wealth.

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Adam Dean's curator insight, November 11, 2014 4:01 AM

Wealth inequality returning to 18th century levels. Such inequality increases the risk of social reproduction and a reliance on inheritance rather than innovation to accumulate wealth.

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

Gross national happiness - can we measure a UK feelgood factor? | IB Macroeconomics | 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 5:33 AM

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

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Breaking the camel’s back

Breaking the camel’s back | IB Macroeconomics | Scoop.it
ANGUS MADDISON, who died in 2010, was among the most influential of economic historians; his book on the world economy over the past 2,000 years is a classic. Now,...
Adam Dean's insight:

2.3 Trends in global inequality.

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Adam Dean's curator insight, October 12, 2014 8:06 AM

1.4 Trends in global inequality.

Adam Dean's curator insight, October 12, 2014 8:06 AM

Trends in global inequality.

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US unemployment rate at six-year low

US unemployment rate at six-year low | IB Macroeconomics | Scoop.it
Adam Dean's insight:

2.3 US unemployment down.....higher interest rates on the way?

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Adam Dean's curator insight, October 12, 2014 7:33 AM

US unemployment down.....higher interest rates on the way?

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Tax cut plans: The effect on you

Tax cut plans: The effect on you | IB Macroeconomics | Scoop.it
The Conservatives promise tax cuts if they win the next election - but how might you be affected?

Via Westminster Business School
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Labour makes £8 minimum wage pledge

Labour makes £8 minimum wage pledge | IB Macroeconomics | Scoop.it
Adam Dean's insight:

2.3 Distribution of income. Labour looking to reduce income inequality in the UK. What will happen to the gini coefficient? Will it work? What may happen to real wage unemployment? Will it have a negative impact on inflation and international competitiveness?

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Adam Dean's curator insight, September 21, 2014 5:20 AM

Labour looking to reduce income inequality in the UK. What will happen to the gini coefficient? Will it work? What may happen to real wage unemployment? Will it have a negative impact on inflation and international competitiveness?

Adam Dean's curator insight, September 21, 2014 5:22 AM

1.3 Government intervention - price controls. Labour looking to reduce income inequality in the UK. What will happen to the gini coefficient? Will it work? What may happen to real wage unemployment? Will it have a negative impact on inflation and international competitiveness?

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ECB imposes negative interest rate

ECB imposes negative interest rate | IB Macroeconomics | Scoop.it
Adam Dean's insight:

2.5 Monetary policy - excellent analysis of the reasons for and implications of ECB's decision to impose a negative deposit rate.

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Britain's richest 1% own as much as poorest 55% of population

Britain's richest 1% own as much as poorest 55% of population | IB Macroeconomics | Scoop.it
ONS figures reveal growing wealth disparity and north-south divide, with nation's top 10% owning 44% of household wealth
Adam Dean's insight:

2.3 Growing wealth inequality in the UK.

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Adam Dean's curator insight, May 16, 2014 9:02 AM

Growing wealth inequality in the UK.

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Osborne Pledges 'Full Employment' For UK

Osborne Pledges 'Full Employment' For UK | IB Macroeconomics | Scoop.it
The Chancellor claims recent tax and welfare changes will help Britain achieve one of the highest employment rates in the world.
Adam Dean's insight:

Excellent piece on George Osbourne's pursuit of full employment. A series of supply side policies to boost labour flexibility are explored, as well as an excellent analysis of what is actually meant by the term 'full employment'.

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Adam Dean's curator insight, March 31, 2014 5:05 PM

Excellent piece on George Osbourne's pursuit of full employment. A series of supply side policies to boost labour flexibility are explored, as well as an excellent analysis of what is actually meant by the term 'full employment'.

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David Smith's EconomicsUK.com: Inflation falls - and a puzzle

David Smith's EconomicsUK.com: Inflation falls - and a puzzle | IB Macroeconomics | Scoop.it
David Smith's EconomicsUK - all the economics you'll ever need...
Adam Dean's insight:

Falling inflation in the UK means that real wages might be rising....at last.

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Adam Dean's curator insight, March 25, 2014 8:19 AM

Falling inflation in the UK means that real wages might be rising....at last.

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Britain's trade position worsens after fall in exports

Britain's trade position worsens after fall in exports | IB Macroeconomics | Scoop.it
The trade in goods deficit widened to a worse than expected £9.8bn in January from £7.7bn in December

Via Geoff Riley
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Geoff Riley's curator insight, March 14, 2014 9:05 AM

The ambitious target of doubling the value of K exports from 2012-2020 looks almost impossible at the moment. Flagging exports hit by growth slowdown in emerging markets and appreciating sterling. £9bn monthly trade deficit is eye-watering! 

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Hundreds of thousands of apprentices in UK paid as little as £2.73 an hour

Hundreds of thousands of apprentices in UK paid as little as £2.73 an hour | IB Macroeconomics | Scoop.it
More than 350,000 of more than 850,000 apprentices are now over 25 with more than 50,000 over 50
Adam Dean's insight:

Education and training schemes are an example of both fiscal and supply-side policies. Successful apprenticeship schemes should boost AD and AS as worker training is subsidised by the state and labour productivity increases. However, in practice it appears that some firms are simply rebranding on-the-job training as apprenticeships, claiming government funds to cover the cost of training they would have provided themselves.

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Adam Dean's curator insight, November 30, 2014 4:24 PM

Education and training schemes are an example of both fiscal and supply-side policies. Successful apprenticeship schemes should boost AD and AS as worker training is subsidised by the state and labour productivity increases. However, in practice it appears that some firms are simply rebranding on-the-job training as apprenticeships, claiming government funds to cover the cost of training they would have provided themselves.

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Earn less than £30,000 and a robot is much more likely to take over your job

Earn less than £30,000 and a robot is much more likely to take over your job | IB Macroeconomics | Scoop.it
Your job is at risk of being taken over by a robot or automated system according to research by Oxford University and Deloitte
Adam Dean's insight:

Technological unemployment more likely for those on low incomes.

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Adam Dean's curator insight, November 10, 2014 4:34 PM

Technological unemployment more likely for those on low incomes.

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Tata Steel to sell some UK plants

Tata Steel to sell some UK plants | IB Macroeconomics | Scoop.it

Via Geoff Riley
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Geoff Riley's curator insight, October 15, 2014 8:41 AM

Hopefully these sites will find a buyer - AS macro students will readily understand the negative multiplier effects arising from significant factory closures especially for the local and regional economy.

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A Global Economic Malaise

A Global Economic Malaise | IB Macroeconomics | 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 7:44 AM

Macro policy advice from the NY Times.

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Concrete benefits

Concrete benefits | IB Macroeconomics | Scoop.it
THOSE trying to fly to or from Chicago in the past week learned first-hand the shortcomings of America’s public infrastructure. A suicidal employee set fire to a...
Adam Dean's insight:

2.4 The demand and supply side benefits of public investment in infrastructure.

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Adam Dean's curator insight, October 12, 2014 7:03 AM

The demand and supply side benefits of public investment in infrastructure.

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Cameron pledges tax cuts 'for 30m'

Cameron pledges tax cuts 'for 30m' | IB Macroeconomics | Scoop.it
Adam Dean's insight:

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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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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ECB cuts rates and launches stimulus

ECB cuts rates and launches stimulus | IB Macroeconomics | Scoop.it
Adam Dean's insight:

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

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

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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Britain's GDP surpasses pre-recession peak - Telegraph

Britain's GDP surpasses pre-recession peak - Telegraph | IB Macroeconomics | Scoop.it
The level of UK GDP is approximately 0.2pc above where it was in January 2008, according to The National Institute of Economic and Social Research
Adam Dean's insight:

At last, the UK has recovered - it has taken 6 years and 5 months to reach the previous GDP peak of January 2008.

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Rescooped by Adam Dean from Developments in the UK Economy
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Keeping up with the Schmidts

Keeping up with the Schmidts | IB Macroeconomics | 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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How countries calculate their GDP

How countries calculate their GDP | IB Macroeconomics | Scoop.it
WHEN unveiling Britain's annual budget on March 19th George Osborne, the chancellor of the exchequer, crowed that the British economy was forecast to grow at an...
Adam Dean's insight:

2.1 The Economist explains how GDP is calculated and the flaws as a measure of well-being.

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Adam Dean's curator insight, March 27, 2014 5:51 PM
The Economist explains how GDP is calculated and the flaws as a measure of well-being.
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Britain's changing shopping basket

Britain's changing shopping basket | IB Macroeconomics | Scoop.it
Adam Dean's insight:

Measuring inflation in the UK - what is meant by 'a basket of goods'.

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Adam Dean's curator insight, March 24, 2014 7:32 AM

Measuring inflation in the UK - what is meant by 'a basket of goods'.

Kent College History's comment, June 5, 2014 12:26 PM
Britain has its own shopping basket? I've got a lot to learn about economics.